Enbridge saw a positive improvement to its Relative Strength (RS) Rating on Friday, with an increase from 69 to 73.
When To Sell Stocks To Lock In Profits And Minimize Losses
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks compares to other publicly traded companies.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating of above 80 as they launch their largest price moves. See if Enbridge can continue to show renewed price strength and clear that threshold.
Enbridge broke out earlier, but has fallen back below the prior 47.44 entry from a cup without handle. If a stock you're watching clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
Enbridge posted 12% EPS growth in its most recent report. Revenue rose 31%.
Enbridge earns the No. 3 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Hess Midstream is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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