Enbridge Inc Cum Red Pref Registered Shs Stock Forecast
Enbridge Inc Cum Red Pref Registered Shs stock price up 1.24% on Friday
(Updated on Jun 28, 2024)
The Enbridge Inc Cum Red Pref Registered Shs stock price gained 1.24% on the last trading day (Friday, 28th Jun 2024), rising from $17.77 to $17.99. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.29% from a day low at $17.80 to a day high of $18.03. The price has risen in 7 of the last 10 days and is up by 5.08% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 5 thousand shares were bought and sold for approximately $94.88 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 the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $18.09 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.63% during the next 3 months and, with a 90% probability hold a price between $16.03 and $17.43 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ENB-PFA.TO Signals & Forecast
The Enbridge Inc Cum Red Pref Registered Shs stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $17.29 and $17.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 7.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Enbridge Inc Cum Red Pref Registered Shs stock
Enbridge Inc Cum Red Pref Registered Shs finds support from accumulated volume at $17.90 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 controlled movements and therefore the general risk is considered 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 $0.230 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: $17.39 (-3.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (ENB-PFA.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Enbridge Inc Cum Red Pref Registered Shs Series 9 to open at $17.94, and during the day (based on 14 day Average True Range), to move between $17.78 and $18.20, which gives a possible trading interval of +/-$0.213 (+/-1.19%) up or down from last closing price. If Enbridge Inc Cum Red Pref Registered Shs Series 9 takes out the full calculated possible swing range there will be an estimated 2.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.00 (0.06%) than the support at $17.90 (0.50%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Enbridge Inc Cum Red Pref Registered Shs Series 9 stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.217 Buy Candidate Unchanged
Predicted Opening Price for Enbridge Inc Cum Red Pref Registered Shs Series 9 of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $17.94 ( 0.278%) | $17.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENB-PFA.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.17 | 1.00% |
| R2 | 18.08 | 0.512% |
| R1 | 18.03 | 0.210% |
| Price | 17.99 | |
| S1 | 17.85 | -0.766% |
| S2 | 17.80 | -1.07% |
| S3 | 17.71 | -1.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.39 | 2.22% |
| R2 | 18.15 | 0.89% |
| R1 | 18.00 | 0.0556% |
| Price | 17.99 | |
| S1 | 17.90 | -0.500% |
| S2 | 17.20 | -4.39% |
| S3 | 17.11 | -4.89% |
ENB-PFA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 14, 2024 | $0.256 | 1.40% |
| 2 | Feb 14, 2024 | Feb 14, 2024 | Feb 14, 2024 | $0.256 | 1.48% |
| 3 | Nov 14, 2023 | Nov 14, 2023 | Nov 14, 2023 | $0.256 | 1.63% |
| 4 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | $0.256 | 1.66% |
| 5 | May 12, 2023 | May 12, 2023 | May 12, 2023 | $0.256 | 1.71% |
FAQ
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