ENB slides nearly 2% as trading remains below key moving averages following capital raise

Traders Union
All News
Stocks
Enbridge slides 1.63% today to C$65.84

Highlights

Enbridge posted quarterly revenue of CAD 29.318 billion and executed a public offering of 44,735,000 shares.
The company advanced U.S. midstream expansion via crude gathering acquisitions and invested in organic pipeline and renewables, with a 5.7% dividend yield and 30-year growth track record.
Shares of Enbridge last traded at C$65.84, trading below key moving averages with momentum indicators signaling further downside risk within an expected range of C$65.1 to C$66.58 over the next five days.

Dividend stability persists as capital deployment fails to lift price

Enbridge reported quarterly revenue of CAD 29.318 billion and completed a public offering of 44,735,000 shares on September 14, 2026. The company expanded its midstream operations through U.S. crude gathering asset acquisitions and investments in its organic growth pipeline. Emphasis remained on recurring EBITDA and renewable energy projects with a stable dividend growth profile and a 30-year history of increases, closing with a dividend yield of about 5.7%, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, points to sustained technical weakness in Enbridge Inc., given the breach of all major moving averages and unrelenting downside momentum. He highlights that the large share offering has not eased the selling pressure, with momentum and oscillators confirming bearish sentiment. Despite a strong history of stable dividends, he remains skeptical as critical support at C$65.1 is at risk. Kharitonov notes that broad capital outflows and weak price action outweigh the company’s fundamental strengths. "Given this persistent pressure across all timeframes, I see little chance for a meaningful reversal unless major resistance is reclaimed."

Viktoras Karapetjanc, expert at Traders Union, sees the recent capital raise as expanding growth opportunities for Enbridge, particularly with U.S. asset acquisitions and renewable investments. He emphasizes the company’s 30-year track record of dividend increases and robust recurring EBITDA, which signal resilience and future upside potential. Karapetjanc remains confident that the stable 5.7% yield underpins long-term investor interest. He believes that near-term volatility presents attractive entry points rather than deeper risk. "Despite current price weakness, I expect the bullish structure to reassert as Enbridge capitalizes on its expanded portfolio and dividend reliability."

Sholanke Dele, market strategist, sees sentiment around Enbridge as deeply negative after the share offering and persistent price declines. He notes that heavy session tone and investor skepticism dominate, despite a stable dividend yield. Dele flags a lack of positive momentum, with no bullish catalysts visible in the short term. "Market conviction remains low here — I don’t see any near-term appetite for a reversal."

Persistent downside momentum as broad technical resistance caps gains

ENB is trading below all major moving averages, with C$65.84 under the MA-20 at C$68.41, the MA-50 at C$71.95, and the MA-200 at C$72.26, indicating persistent weakness across short, medium, and long-term periods. The Ichimoku Kijun at C$68.8 acts as firm resistance, with nearby support defined at C$65.1 and initial resistance at C$65.99. Momentum indicators confirm a clear downside bias—MACD and ADX both reflect strong selling pressure, while RSI, Stochastic RSI, and CCI continue to signal selling with no visible reversal. Bull/Bear Power remains below zero, suggesting intraday seller control and an oversold forecast. Intraday volatility stands at 1.53%, and session tone is heavy, with session lows tested following a downside gap. All momentum and short-term oscillators are aligned to the downside.

Earlier, analysts noted that Enbridge shares faced persistent bearish pressure amid operational and regulatory scrutiny, with downside risks dominating the technical outlook. The current article reinforces this negative trend, highlighting broad-based weakness across all timeframes and signaling that a drop below C$65.1 would mark a critical threshold for renewed downside risk.

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

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.