Following these proceedings, Wells Fargo upgraded its Enbridge Inc [ENB] rating to an Equal weight from a an Underweight in a research note published recently. Jefferies also remained covering ENB and has decreased its forecast on September 30, 2024 with a “Hold” recommendation from previously “Buy” rating. Jefferies started covering the stock on February 27, 2024. It rated ENB as “a Buy”.
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Price Performance Review of ENB
On Tuesday, Enbridge Inc [NYSE:ENB] saw its stock jump 0.30% to $43.49. Over the last five days, the stock has gained 1.26%. Enbridge Inc shares have risen nearly 20.74% since the year began. Nevertheless, the stocks have risen 23.62% over the past one year. While a 52-week high of $43.70 was reached on 12/03/24, a 52-week low of $32.85 was recorded on 04/17/24. SMA at 50 days reached $41.68, while 200 days put it at $37.93.
Levels Of Support And Resistance For ENB Stock
The 24-hour chart illustrates a support level at 43.33, which if violated will result in even more drops to 43.17. On the upside, there is a resistance level at 43.77. A further resistance level may holdings at 44.04. The Relative Strength Index (RSI) on the 14-day chart is 62.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.90%. Stochastics %K at 81.14% 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 2024-11-15, growing by 38.54 million shares to a total of 63.18 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 24.64 million shares. There was a rise of 61.0%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on January 18, 2024 when Stifel began covering the stock and recommended ‘”a Hold”‘ rating .
