Enbridge stock price forecast: Bullish structure faces near-term selling as ENB slips 1.56%

Traders Union
All News
Financial News
Enbridge slides 1.56% to $74.23 today

Highlights

Enbridge initiated construction on the Line 5 reroute in Wisconsin after key U.S. regulatory approvals and the Supreme Court's support for its continued operation.
The company targets 2026 EBITDA of $20.2–$20.8 billion, plans $10–$20 billion in new investments, and maintains a $39 billion project backlog to 2033.
ENB trades in a bullish technical structure but faces short-term selling pressure, with a projected trading range of $73.50 to $76.50 and high probability of upward movement.

Pipeline progress and growth targets temper selling pressure

Enbridge began work on the Line 5 reroute in northern Wisconsin after securing state and federal approvals, following the U.S. Supreme Court's denial of Michigan's appeal, which allowed the company's lawsuit to proceed and supported continued operation of the Line 5 oil pipeline. The company stated it is targeting full-year 2026 EBITDA of between $20.2 billion and $20.8 billion and distributable cash flow of $5.70 to $6.10 per share. Plans were also announced for final investment decisions on an additional $10 billion to $20 billion in growth projects over the next two years, supplementing its existing $39 billion secured capital backlog through 2033, though price action has remained under broader selling pressure.

Robust momentum persists amid mixed oscillator signals and volatility

Momentum remains robust with MACD signaling a strong buy, reinforced by an upward-trending ADX on the daily chart. RSI at 63.59 and CCI at 97.52 point to underlying strength but do not yet indicate overbought conditions, while Stoch RSI shows neutrality, creating some divergence among oscillators. Bull/Bear Power (BBP) registers as overbought at 1.35, suggesting buyers dominate current intraday dynamics, while the Awesome Oscillator provides a neutral reading. ENB opened slightly lower than the previous close, with a gap down, and trades near the day's low, indicating moderate intraday volatility and some short-term exhaustion despite broader bullish momentum.

High upside chance as volatility band defines breakout risk

For the coming week, ENB is expected to trade within a typical volatility band between $73.50 and $76.50. The probability of a price increase is high (over 80%) according to strong buy signals from the RSI, MACD, and MA-50 on the weekly chart. The baseline scenario anticipates sideways movement within this band. A break above $76.50 could trigger further upside, while a move below $73.50 would expose the stock to a short-term correction, though longer-term support remains strong well below.

Anton Kharitonov, expert at Traders Union, notes that Enbridge maintains a bullish technical structure above key moving averages, but momentum is showing early signs of exhaustion near resistance. He believes the market remains wary despite strong long-term project announcements and favorable regulatory developments, as broader selling pressure persists. The analyst sees a clear range for ENB between $73.50 and $76.50, with a high probability of sideways movement and a risk of short-term correction if support fails. "Until bullish momentum decisively overcomes resistance at $76.50, I remain cautious and prefer to wait for confirmation before taking a new position."

Earlier, analysts noted that Enbridge was demonstrating sustained bullish momentum, supported by strong technical and operational fundamentals. The current outlook not only reinforces this positive trajectory but also highlights new growth drivers and project milestones, making a sustained move above $76.50 the key trigger to watch for further upside.

Source of Data: ENB Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.