Enbridge stock faces resistance test at C$72.25: Resistance levels in focus

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Enbridge edges up 0.1% to C$67.77

Highlights

Enbridge will acquire Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its U.S. pipeline and storage assets.
The deal adds a 51% stake in the Powder River Gateway pipeline, 8.4 million barrels of storage across nine terminals, and Stanchion Energy's crude marketing operations.
ENB/CAD stock shows short-term bullish momentum with a projected 2-3 day trading range of C$66.81 to C$68.73, although technical signals suggest potential for short-term pullbacks.

U.S. expansion and cash flow lift as Tallgrass deal closes

Enbridge has agreed to acquire the crude oil business of Blackstone-owned Tallgrass Energy for $2.55 billion in cash, in a transaction that significantly expands its U.S. pipeline and crude storage network, according to Energiesmedia. The purchase brings a controlling 51% interest in the Powder River Gateway pipeline along with nearly 8.4 million barrels of storage across nine terminals and adds the crude oil marketing operations of Stanchion Energy. The deal is expected to be accretive to distributable cash flow per share in its first full year of ownership, providing Enbridge with an immediate boost to operational reach and financial flexibility.

Mixed momentum and overbought risk amid cluster of technical signals

ENB is currently positioned above its MA-20 at C$67.49 but slightly below the MA-50 at C$67.79 on the H1 chart, with clear resistance remaining at the MA-200 daily level of C$72.25. The Ichimoku Kijun sits at C$67.14, acting as immediate support. Momentum indicators show mixed signals: MACD indicates a Buy, the ADX remains Neutral, and both the RSI at 56.7 and CCI suggest buying pressure. However, the Stochastic RSI signals overbought conditions, while Bull/Bear Power points to strong intraday buying momentum and the Awesome Oscillator is neutral. Divergence among these signals, particularly with overbought conditions, underscores a risk of short-term pullbacks despite prevailing buyer interest.

Sideways trading favored as support and resistance contain moves

In the short term, ENB is expected to consolidate within a range of C$66.81 to C$68.73 over the next few trading days, based on typical intraday volatility. The most likely scenario is continued sideways trading. Should the price break above resistance, there would be room to test the upper band of this corridor. Conversely, a move below the immediate support at the Ichimoku Kijun would expose the stock to further downside within the specified range.

Anton Kharitonov, expert at Traders Union, notes that Enbridge's recent Tallgrass Energy deal modestly increases operational scale and diversifies earnings streams. He observes that price is above its short-term averages but meets resistance at key medium- and long-term levels. The technical outlook remains mixed and overbought momentum could limit further upside for now. "Until ENB decisively breaks C$68.73, I remain cautious despite increased deal-driven interest."

Earlier, analysts noted that Enbridge’s pursuit of new pipeline projects and incremental infrastructure options was enhancing its medium-term growth outlook amid mixed technical signals. The latest Tallgrass Energy acquisition further diversifies Enbridge’s U.S. portfolio and provides fresh catalysts, with traders advised to watch for any breakout from the current C$66.81–C$68.73 consolidation range as the next signal of directional momentum.

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

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