Enbridge Inc. Stock Forecast
Enbridge Inc. stock price ended at $20.90 on Thursday, after gaining 0.481%.
(Updated on May 30, 2024)
The Enbridge Inc. stock price gained 0.481% on the last trading day (Thursday, 30th May 2024), rising from $20.80 to $20.90. During the last trading day the stock fluctuated 0% from a day low at $20.90 to a day high of $20.90. The price has risen in 5 of the last 10 days. Volume fell on the last day by -624 shares and in total, 2 thousand shares were bought and sold for approximately $31.79 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.75% during the next 3 months and, with a 90% probability hold a price between $21.01 and $22.14 at the end of this 3-month period.
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EBBNF Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -0.476%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Enbridge Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $20.90 and $20.74. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Friday, April 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Tuesday, April 23, 2024 with a target of $20.76. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Enbridge Inc. stock
Enbridge Inc. finds support from accumulated volume at $20.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.245%
Our recommended stop-loss: $20.15 (-3.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (EBBNF) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Enbridge Inc. to open at $20.90, and during the day (based on 14 day Average True Range), to move between $20.70 and $21.10, which gives a possible trading interval of +/-$0.196 (+/-0.94%) up or down from last closing price. If Enbridge Inc. takes out the full calculated possible swing range there will be an estimated 1.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.86 (0.19%) than the resistance at $21.15 (1.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Enbridge Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Enbridge Inc. stock to perform well in the short-term.
Current score: 2.421 Buy Candidate Unchanged
Predicted Opening Price for Enbridge Inc. of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $20.90 ( 0%) | $20.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBBNF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.90 | . | |
| R2 | 20.90 | . | ||
| R1 | 20.90 | . | ||
| Current price: | 20.90 | |||
| Support | S1 | 20.90 | . | |
| S2 | 20.90 | . | ||
| S3 | 20.90 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.20 | 1.44 % | |
| R2 | 21.18 | 1.34 % | ||
| R1 | 21.15 | 1.20 % | ||
| Current price | 20.90 | |||
| Support | S1 | 20.86 | -0.191% | |
| S2 | 20.75 | -0.718% | ||
| S3 | 20.44 | -2.20% |
EBBNF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 14, 2024 | $0 | 0% |
| 2 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0 | 0% |
| 3 | Nov 14, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.366 | 1.94% |
| 4 | Aug 01, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.366 | 1.98% |
| 5 | May 03, 2023 | May 12, 2023 | Jun 01, 2023 | $0.366 | 1.93% |
FAQ
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