Enbridge ( ENB-T , Monday’s close $67.58) declined from $59.69 in 2022 to $42.75 in 2023 (A-B) while trading below a falling trendline (dashed line) and below its falling 40-week Moving Average (40wMA). The stock rallied above these indicators in May 2024 (C) and started a sharp rise that culminated with a high of $65.62 in January (D). Enbridge was overbought at that time and far above its 40wMA; it then settled in a horizontal range mostly between $59 and $65 (dotted lines), which provided the average with time to catch up to the price. The recent advance above the top of the trading range signaled a breakout and the resumption of the long-term uptrend (E).

Behaviour indicators including the rising 40wMA and the rising trendline (solid line) confirm the bullish status. There is good s

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