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5 Big Stocks to Trade This Earnings Season


First up is Enbridge (ENB - Get Report), the $32 billion energy firm. ENB has been churning sideways for most of the year, delivering gains that only come in at half of what the S&P has produced since the first trading session in 2012. But Enbridge shareholders could be rewarded for their patience in the near-term thanks to the pattern that's been setting up in this stock's chart.

>>5 Stocks Poised to Pop on Bullish Earnings

Enbridge is currently forming an ascending triangle, a bullish setup that's formed by a horizontal resistance level above shares -- in this case at $41.50 -- and uptrending support below them. As ENB bounces in between those two technical price levels, it's getting squeezed closer and closer to a breakout above resistance. That breakout is the buy signal.

The long-term setup that ENB has been setting has equally long-term trading implications. The fact that $41.50 has acted as such a strong barrier to upside (a fact gleaned from just how hard shares fell each of the last three times they approach it) means that a breakout has all the more significance.

Still, it's important not to be early here. When the breakout does happen, I'd recommend putting a protective stop just below the 200-day moving average.
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BRK.B $128.92 0.94%
ENB $31.95 -0.90%
KO $42.85 -1.00%
PX $104.82 0.96%
V $70.80 3.60%


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