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Bearish Moving Average Cross by Enbridge (ENB)

By David Diaz

Today, shares of Enbridge (NYSE:ENB) have fallen below their 10-day MA of $38.41 on a volume of 638K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Enbridge share prices have moved between a 52-week high of $52.89 and a 52-week low of $27.43 and are now trading 38% above that low price at $37.98 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Enbridge on May 11th, 2017 by issuing a Downtrend alert when the shares were trading at $40.24. Since that call, shares of Enbridge have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses enbridge

Ticker(s): ENB