ENBRIDGE INC - 1H - Technical analysis published on 11/10/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 42.75 USD
My targets
41.72 USD (-1.39%)
40.75 USD (-3.69%)
My analysis
The short-term decline is currently reinforcing the basic trend, which is only slightly bearish. It would be possible for traders to only trade short positions (for sale) on ENBRIDGE INC as long as the price remains well below 42.75 USD. The next bearish objective for sellers is set at 41.72 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 40.75 USD. In case of crossing, the next objective would be the support located at 39.67 USD.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
3.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ENBRIDGE INC rating 42.31 USD. The price has increased by +0.05% since the last closing and was between 42.26 USD and 42.56 USD. This implies that the price is at +0.12% from its lowest and at -0.59% from its highest.42.26
42.56
42.31
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of ENBRIDGE INC in 1H shows an overall slightly bearish trend. Only 53.57% of the signals given by moving averages are bearish. This slightly bearish trend is reinforced by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bearish. The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 39.67 | 40.75 | 41.72 | 42.31 | 42.45 | 42.75 | 43.05 |
| Change (%) | -6.24% | -3.69% | -1.39% | - | +0.33% | +1.04% | +1.75% |
| Change | -2.64 | -1.56 | -0.59 | - | +0.14 | +0.44 | +0.74 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 41.66 | 41.96 | 42.12 | 42.42 | 42.58 | 42.88 | 43.04 |
| Camarilla | 42.16 | 42.21 | 42.25 | 42.29 | 42.33 | 42.37 | 42.42 |
| Woodie | 41.60 | 41.93 | 42.06 | 42.39 | 42.52 | 42.85 | 42.98 |
| Fibonacci | 41.96 | 42.13 | 42.24 | 42.42 | 42.59 | 42.70 | 42.88 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 40.62 | 41.17 | 42.24 | 42.79 | 43.86 | 44.41 | 45.48 |
| Camarilla | 42.86 | 43.00 | 43.15 | 43.30 | 43.45 | 43.60 | 43.75 |
| Woodie | 40.87 | 41.30 | 42.49 | 42.92 | 44.11 | 44.54 | 45.73 |
| Fibonacci | 41.17 | 41.79 | 42.17 | 42.79 | 43.41 | 43.79 | 44.41 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 36.34 | 37.99 | 39.92 | 41.57 | 43.50 | 45.15 | 47.08 |
| Camarilla | 40.88 | 41.20 | 41.53 | 41.86 | 42.19 | 42.52 | 42.85 |
| Woodie | 36.49 | 38.06 | 40.07 | 41.64 | 43.65 | 45.22 | 47.23 |
| Fibonacci | 37.99 | 39.35 | 40.20 | 41.57 | 42.93 | 43.78 | 45.15 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 48.66 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | 6.61 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 42.47 | |
| Parabolic SAR (0,02-0,02-0,2): | 42.90 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 43.09 | |
| Zig ZAG (10): | 42.38 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 24.71 | |
| TEMA (21): | 42.38 | |
| Williams %R (14): | -76.47 | |
| Chande Momentum Oscillator (20): | -0.15 | |
| Repulse (5,40,3): | -0.4300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 1.89 |
| MA7: | 42.35 | |
| MA20: | 42.48 | |
| MA50: | 41.10 | |
| MA100: | 40.22 | |
| MAexp7: | 42.39 | |
| MAexp20: | 42.47 | |
| MAexp50: | 42.42 | |
| MAexp100: | 42.31 | |
| Price / MA7: | -0.09% | |
| Price / MA20: | -0.40% | |
| Price / MA50: | +2.94% | |
| Price / MA100: | +5.20% | |
| Price / MAexp7: | -0.19% | |
| Price / MAexp20: | -0.38% | |
| Price / MAexp50: | -0.26% | |
| Price / MAexp100: | -0% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The last news published on ENBRIDGE INC at the time of the generation of this analysis was as follows:
- Quanta Services Selected by Enbridge Pipelines for Line 3 Replacement Program in Canada
- Investor Network: Enbridge Inc. to Host Earnings Call
-
Conflict Of Interest Leads To Firing Of Contractor Doing Enbridge Oil Pipeline Risk Analysis
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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