ENBRIDGE INC - 1H - Technical analysis published on 09/18/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
28%
33%
39%
My opinion
Bullish above 34.53 USD
My targets
35.62 USD (+1.60%)
36.45 USD (+3.96%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ENBRIDGE INC as long as the price remains well above 34.53 USD. The buyers' bullish objective is set at 35.62 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 36.45 USD. If there is any crossing, the next objective would be the resistance located at 36.89 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
5.4
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Additional analysis
Quotes
The ENBRIDGE INC price is 35.06 USD. The price is lower by -0.09% since the last closing and was traded between 34.80 USD and 35.29 USD over the period. The price is currently at +0.75% from its lowest and -0.65% from its highest.34.80
35.29
35.06
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 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this ENBRIDGE INC chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 7 are neutral and 6 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 33.21 | 34.18 | 34.53 | 35.06 | 35.10 | 35.62 | 36.45 |
| Change (%) | -5.28% | -2.51% | -1.51% | - | +0.11% | +1.60% | +3.96% |
| Change | -1.85 | -0.88 | -0.53 | - | +0.04 | +0.56 | +1.39 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.43 | 34.67 | 34.88 | 35.12 | 35.33 | 35.57 | 35.78 |
| Camarilla | 34.97 | 35.01 | 35.05 | 35.09 | 35.13 | 35.17 | 35.21 |
| Woodie | 34.42 | 34.66 | 34.87 | 35.11 | 35.32 | 35.56 | 35.77 |
| Fibonacci | 34.67 | 34.84 | 34.95 | 35.12 | 35.29 | 35.40 | 35.57 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 32.40 | 33.04 | 34.07 | 34.71 | 35.74 | 36.38 | 37.41 |
| Camarilla | 34.63 | 34.78 | 34.94 | 35.09 | 35.24 | 35.40 | 35.55 |
| Woodie | 32.59 | 33.14 | 34.26 | 34.81 | 35.93 | 36.48 | 37.60 |
| Fibonacci | 33.04 | 33.68 | 34.08 | 34.71 | 35.35 | 35.75 | 36.38 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30.79 | 32.37 | 33.73 | 35.31 | 36.67 | 38.25 | 39.61 |
| Camarilla | 34.27 | 34.54 | 34.81 | 35.08 | 35.35 | 35.62 | 35.89 |
| Woodie | 30.67 | 32.32 | 33.61 | 35.26 | 36.55 | 38.20 | 39.49 |
| Fibonacci | 32.37 | 33.50 | 34.19 | 35.31 | 36.44 | 37.13 | 38.25 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 59.55 | |
| MACD (12,26,9): | 0.2200 | |
| Directional Movement: | 3.01 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 35.21 | |
| Parabolic SAR (0,02-0,02-0,2): | 35.29 | |
| Elder Ray (13): | 0 | |
| Super Trend (3,10): | 34.64 | |
| Zig ZAG (10): | 35.04 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 46.02 | |
| TEMA (21): | 35.26 | |
| Williams %R (14): | -59.82 | |
| Chande Momentum Oscillator (20): | -0.17 | |
| Repulse (5,40,3): | -0.1100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 1.79 |
| MA7: | 34.45 | |
| MA20: | 34.53 | |
| MA50: | 35.64 | |
| MA100: | 36.61 | |
| MAexp7: | 35.05 | |
| MAexp20: | 34.90 | |
| MAexp50: | 34.59 | |
| MAexp100: | 34.59 | |
| Price / MA7: | +1.77% | |
| Price / MA20: | +1.53% | |
| Price / MA50: | -1.63% | |
| Price / MA100: | -4.23% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.46% | |
| Price / MAexp50: | +1.36% | |
| Price / MAexp100: | +1.36% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The latest news and videos published on ENBRIDGE INC at the time of the analysis were as follows:
- We Are Better Together: DEI at Enbridge
- Gas Utility Acquisitions a 'Once-In-A-Generation Opportunity'
- Goats on the Go: A New Breed of Pipeline Patrols
- Proudly Serving Those Who Have Served
- Keeping Teams Safe Everyday: Employee and Contractor Safety at Enbridge
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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