Higher and Higher!T.ENB closed above strong resistance at $59.35 yesterday. It has been consolidating below this line for a month now and will most likely follow a trend line higher for another leg up.
The next strong resistance is at $65.50 which coincidentally sits at ENB's all time highs. Once we get above the physcological $60 number I can see this stock climbing steadily towards this share price especially with another excellent dividend to soon be announced and a run up to Q2 earnings approaching. Demand is up and summer cooling season has natural gas prices peaking along with European LNG demand and do not forget that now is when natural gas supplies are injected back into storage for the upcoming winter heating season demand which shows no signs of slowing down. Why would it? Full pipes and high prices...get some!
Go Enbridge! ;-)