Stock Price Prediction

Technical Analysis

Recent price action shows ENB trading in a range between $41.53 and $42.15. The stock has formed a bullish reversal pattern after finding support around $41.50 level. The current price of $41.97 indicates potential upward momentum.

News Impact Analysis

Several significant developments affect ENB's near-term outlook:

1. Positive Factors:

• Strong financial performance with 13% EBITDA growth to $13.3 billion in 2024
• Completion of strategic CA$19 billion acquisition of three U.S. gas utilities
• 30-year track record of dividend increases

2. Risk Factors:

• Potential impact from Trump's proposed 25% tariffs on Canadian imports
• Technical indicators showing possible overbought conditions
• Rising interest rate environment pressuring utility stocks

Price Forecast for Next Week

Based on technical analysis and news sentiment:

Target Prices:

• Resistance: $42.50 (Previous high + gap fill)
• Support: $41.50 (Recent low)

Scenarios:

• Bullish Case (60% probability): Price breaks above $42.15, targeting $42.50-$43.00
• Bearish Case (40% probability): Price falls below $41.50, could test $41.00

Trading Recommendation

SELL with target entry at current price ($41.97)

• Short-term target: $41.00
• Stop loss: $42.50
• Risk/Reward ratio: 1:2

Rationale:

• Negative sentiment from potential tariff implementation
• Technical indicators suggesting resistance at $42.15
• Broader market uncertainty affecting utility stocks