Based on the provided data and recent market developments, here's the analysis for ENB's price prediction for next week:
Technical Analysis
News Impact Analysis
Price Prediction for Next Week Based on technical and fundamental factors:
Bearish Scenario (60% probability):
Neutral Scenario (30% probability):
Bullish Scenario (10% probability):
Trading Recommendation SELL with target entry at current levels ($43.18):
The recommendation is based on:
The price of ENB is predicted to go up 10.73%, based on the high correlation periods with LCUT. The similarity of these two price pattern on the periods is 90.53%.
ENB
LCUT
Enbridge is the liquids-focused version of gas-oriented Williams in terms of an attractive, highly regulated, utilitylike earnings profile.
Enbridge offers a highly secure dividend that can increase 3% annually for the foreseeable future.
The cancelation of Keystone XL puts Enbridge in a leading position to capture new organic pipeline expansions to serve the unmet needs of producers.