Our Signals help define rules-based Trading Plans predicated on the Basic Rules of Tehnical Analysis. Take a trial, review our Index ETF Signals, macro, more...
December 22, 2024, 09:30 am ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy ENB near 39.49 with an upside target of 41.57. This data also tells us to set a stop loss @ 39.38 to protect against excessive loss in case the stock begins to move against the trade. 39.49 is the first level of support below 41.37 , and by rule, any test of support is a buy signal. In this case, support 39.49 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of ENB as it gets near 41.57 with a downside target of 39.49. We should have a stop loss in place at 41.69though. 41.57 is the first level of resistance above 41.37, and by rule, any test of resistance is a short signal. In this case, if resistance 41.57 is being tested, so a short signal would exist.
If 41.57 begins to break higher, the technical summary data tells us to buy ENB just slightly over 41.57, with an upside target of 43.64. The data also tells us to set a stop loss @ 41.45 in case the stock turns against the trade. 41.57 is the first level of resistance above 41.37, and by rule, any break above resistance is a buy signal. In this case, 41.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of ENB if it tests 41.57 with a downside target of 40.89. We should have a stop loss in place at 41.69 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 41.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
If 41.57 begins to break higher, the technical summary data tells us to buy ENB just slightly over 41.57, with an upside target of 43.64. The data also tells us to set a stop loss @ 41.47 in case the stock turns against the trade. 41.57 is the first level of resistance above 41.37, and by rule, any break above resistance is a buy signal. In this case, 41.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of ENB if it tests 41.57 with a downside target of 41.04. We should have a stop loss in place at 41.67 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 41.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
From then on you can just click to get the real time update whenever you want.
GET REAL TIME UPDATES
The technical pivots for Enbridge Inc (NYSE: ENB) help you determine how to trade, when to buy, when to sell, and how to control risk.