I am not sure if I am misreading the ENB chart, but I am having some difficulty understanding how you were building a position below $35/share starting in late 2015 since the chart I am looking at shows the stock traded down to a $40-$45 range in late 2015. It was possible to obtain ENB for less than $35 in peak panic of March, but it was only in that range for two trading days. Prior to March 2020, ENB had not dipped below $35 since late 2011.DealRNothing wrote: ↑ I have found ENB one of the easier stocks to pick bottoms (or close to) to build a position. I started in late 2015 and have never bought / added above $35 CAD which has worked out from a Capital appreciation & income POV.
The catalyst for my interest was the Spectra acquisition announcement and then I patiently waited as the stock absorbed the selling pressure on the acquisition metrics, additional roll-ups (ENF, etc).
My last add was on the March sell-off at $33.95 CAD
Looking back to 2015, ENB has had pretty strong support at the downside at about $40/share. However, it has traded very poorly since March 2020 with questionable future prospects in light of the growing popularity of anti-pipelines politics.
I am currently out of the stock, but previously held it for several years. I personally think pipelines are essential, but I find my opinions on a lot of things increasingly unpopular with the masses and I am ultimately investing for returns only.