Following these proceedings, A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in late September from “a Buy” to “a Hold”. Jefferies began covering ENB with “Buy” recommendation on February 27, 2024. Stifel started covering the stock on January 18, 2024. It rated ENB as “a Hold”.
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Price Performance Review of ENB
On Tuesday, Enbridge Inc [NYSE:ENB] saw its stock fall -1.15% to $40.40. Over the last five days, the stock has lost -2.53%. Enbridge Inc shares have risen nearly 12.16% since the year began. Nevertheless, the stocks have risen 28.70% over the past one year. While a 52-week high of $42.16 was reached on 10/21/24, a 52-week low of $31.47 was recorded on 04/17/24. SMA at 50 days reached $40.63, while 200 days put it at $37.07.
Levels Of Support And Resistance For ENB Stock
The 24-hour chart illustrates a support level at 40.06, which if violated will result in even more drops to 39.71. On the upside, there is a resistance level at 40.81. A further resistance level may holdings at 41.21. The Relative Strength Index (RSI) on the 14-day chart is 40.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.27%. Stochastics %K at 24.50% indicates the stock is a holding.
How much short interest is there in Enbridge Inc?
A steep rise in short interest was recorded in Enbridge Inc stocks on 2024-10-15, growing by 6.01 million shares to a total of 24.64 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 18.63 million shares. There was a rise of 24.39%, which implies that there is a positive sentiment for the stock.
