As this happened, Jefferies downgraded its Enbridge Inc [ENB] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in late February with a ‘”a Buy”‘ rating. Stifel began covering ENB with “Hold” recommendation on January 18, 2024. Wells Fargo revised its rating on October 25, 2023. It rated ENB as “an Underweight” which previously was an “an Equal weight”.
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Price Performance Review of ENB
On Tuesday, Enbridge Inc [NYSE:ENB] saw its stock jump 0.34% to $41.29. Over the last five days, the stock has gained 1.67%. Enbridge Inc shares have risen nearly 14.63% since the year began. Nevertheless, the stocks have risen 26.15% over the past one year. While a 52-week high of $41.35 was reached on 10/02/24, a 52-week low of $31.31 was recorded on 04/17/24. SMA at 50 days reached $40.14, while 200 days put it at $36.83.
Levels Of Support And Resistance For ENB Stock
The 24-hour chart illustrates a support level at 40.90, which if violated will result in even more drops to 40.52. On the upside, there is a resistance level at 41.49. A further resistance level may holdings at 41.70. The Relative Strength Index (RSI) on the 14-day chart is 61.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 5.88%. Stochastics %K at 82.35% indicates the stock is a selling.
How much short interest is there in Enbridge Inc?
A steep rise in short interest was recorded in Enbridge Inc stocks on 2024-09-30, dropping by -4.73 million shares to a total of 18.9 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 23.63 million shares. There was a decline of -25.01%, which implies that there is a negative sentiment for the stock.
