Will Enbridge stock test C$80.57 resistance as Sunrise Expansion ramps up pipeline growth?

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Enbridge rises 0.09% to C$79.36 today

Highlights

Enbridge has begun construction on its C$4 billion Sunrise Expansion Program in British Columbia, adding 140km of new natural gas pipeline.
The project will expand regional gas transportation capacity by 300 million cubic feet per day, enhancing Enbridge's regulated pipeline revenue base.
ENB/CAD shows strong bullish momentum with multiple indicators signaling buying strength, and is expected to trade between C$78.15 and C$80.57 over the next 2–3 days.

Long-term growth prospects as major pipeline expansion begins

Enbridge has initiated construction on its C$4 billion Sunrise Expansion Program in British Columbia, a major project set to extend approximately 140km of new natural gas pipeline and expand compression facilities, according to Finance Yahoo. This substantial infrastructure commitment is positioned to significantly raise regional gas transportation capacity—by as much as 300 million cubic feet per day—thereby increasing the company's revenue-generating assets in the regulated pipeline space. The scale of this development is likely to underpin long-term growth expectations for Enbridge and supports a constructive backdrop for equity demand.

Competing momentum signals as bullish bias meets overbought risk

On the hourly chart, ENB is trading above the MA-20 at C$78.69 and the MA-50 at C$78.88, while the daily chart shows price holding above the MA-200 at C$71.37. The Ichimoku Kijun line at C$78.76 now serves as immediate technical support. Momentum indicators show MACD and ADX each signaling a Buy, confirming the active uptrend. RSI stands at 55.11 and CCI readings indicate mild bullish momentum, while Bull/Bear Power demonstrates strong buyer dominance during intraday sessions. Conversely, Stoch RSI issues a Strong Sell signal, implying that the stock may be short-term overbought, which diverges from other positive momentum indicators. The Awesome Oscillator remains supportive of the prevailing upward trend.

Consolidation likely as breakout risk remains contained

Within the next two to three trading days, the price is expected to oscillate between C$78.15 and C$80.57, a typical volatility band relative to current levels. The baseline case calls for ENB to consolidate within this corridor, reflecting equilibrium between buyers and sellers above the main support and just under resistance. A bullish scenario would arise if price breaks above the recent resistance, potentially triggering momentum-driven extension higher. Conversely, a bearish scenario would only be in play should a sustained downside move unfold below the C$78.15 support level—an outcome currently seen as low probability.

Viktoras Karapetjanc, analyst at Traders Union, sees Enbridge delivering firm price action supported by strong intraday demand and a favorable news backdrop. The launch of the Sunrise Expansion signals robust corporate commitment and underpins positive supply-side fundamentals. Technical momentum and a stable macro environment reinforce investor confidence. Karapetjanc believes that with these tailwinds, consolidation above support should persist, with a bullish breakout remaining likely if resistance gives way. "The current setup signals opportunity for further upside as both fundamentals and sentiment align in Enbridge’s favor."

In a recent review, analysts highlighted Enbridge's improving technical strength and the potential for a bullish breakout as construction on strategic pipeline projects advanced. With current momentum indicators broadly supportive despite pockets of short-term caution, investors should monitor C$80.57 as a critical resistance level that, if surpassed, could signal further upside in the near term.

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.