On Wednesday, Enbridge hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 79 the day before.
This exclusive rating from Investor's Business Daily tracks share price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners tend to have an RS Rating north of 80 in the early stages of their moves.
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While it's not currently an ideal time to invest, see if the stock manages to offer and clear an appropriate buy point.
Earnings grew -11% last quarter, up from -15% in the prior report. Revenue also increased, from 9% to 51%. Keep an eye out for the company's next round of numbers on or around Feb. 14.
Enbridge earns the No. 12 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Western Midstream Ptrs, Energy Transfer and Hess Midstream are among the top 5 highly rated stocks within the group.
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