Enbridge stock trades near C$65.53 support as Tallgrass Energy pipeline deal announced

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Enbridge rises 0.37% to C$67.28 today

Highlights

Enbridge secured C$3.0 billion in a public share offering, increasing capital for acquisitions and strengthening its balance sheet.
Enbridge agreed to buy Tallgrass Energy’s U.S. crude oil assets for $2.55 billion in cash, expanding its liquids pipeline network.
Shares of Enbridge trade within a C$65.53 to C$69.03 range, with mixed technical signals and a higher probability of downward movement.

Capital raise and Tallgrass deal ease funding risks for Enbridge

Enbridge has closed a C$3.0 billion public offering of common shares, providing substantial new capital to support upcoming acquisitions and strengthen the company's balance sheet, according to PR Newswire. This capital injection improves Enbridge's flexibility to pursue growth and manage debt, addressing investor concerns about funding large deals. Separately, Enbridge agreed to acquire Blackstone-owned Tallgrass Energy’s crude oil business, including majority positions in both the Pony Express Pipeline and Powder River Gateway system for $2.55 billion in cash, as reported by Finance Yahoo, further expanding its U.S. liquids pipeline footprint.

Mixed momentum as resistance levels challenge ENB’s advance

The ENB price remains above its MA-20 at C$66.89, with immediate upside capped by the MA-50 at C$68.37 and the MA-200 at C$72.25. The Ichimoku Kijun at C$67.95 represents near-term resistance. Momentum signals are mixed: MACD points to a strong sell, while ADX is supportive of an uptrend. RSI stands at 57.99 and favors buying conditions, but overbought readings from Stoch RSI, CCI, and Bull/Bear Power suggest buyers dominate intraday trade. Awesome Oscillator remains neutral, highlighting the divergence among indicators.

Neutral outlook as volatility band signals range-bound trading

Looking ahead, ENB is likely to trade within a typical volatility band ranging from C$65.53 to C$69.03 over the next few sessions. The base case points toward sideways action inside this channel. There is a 24% probability of a bullish breakout above C$67.95. A confirmed move below C$65.53 would signal downside risk and potentially trigger additional selling.

Viktoras Karapetjanc, analyst at Traders Union, sees Enbridge’s recent capital raise and strategic U.S. pipeline expansion as strong signals for long-term value creation. The expert believes improved liquidity and deal funding flexibility should reassure investors concerned about upcoming growth initiatives. While near-term price action is capped by technical resistance, the fundamental and macro picture remains supportive. "Enbridge is building a solid base for future upside, and I see any consolidation above C$66 as an opportunity for medium-term investors."

Earlier, analysts noted that Enbridge's equity financing and operational developments would shift investor attention toward the company’s growth prospects and ability to absorb capital raises. The latest capital raise and the acquisition of Tallgrass Energy’s assets further reinforce this strategic pivot, making C$67.95 an important resistance level to monitor as traders assess the potential for a breakout.

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.