Hold/Accumulate
Fri 21'st Apr 2017

VOLUME
Sell
TREND
Sell
MV LONG
Buy
MV SHORT
Sell
PIVOT
Buy
MACD
Sell
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TELUS Corporation Stock Analysis

Technical stock analysis for Fri 21'st Apr 2017

Hold candidate since 2017-04-21

TELUS Corporation gained 0.21% in the last trading day, rising from USD 32.79 to USD 32.86 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days , but is still down by -0.27% for this period. Volume fell in the last day by -176 564 shares, and in total, 355 338 shares bought and sold for approximately USD 11.68 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Trend

TELUS Corporation lies in the middle of a weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.1% during the next 3 months and, with 90% probability hold a price between USD 30.36 and USD 32.79 at the end of this period.

Signals

TELUS Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 33.13. On a fall, the stock will find some support from the long-term average at approximately USD 32.44. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Wednesday April 19, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

The stock had a Golden Star Signal* on Friday October 14, 2016 in the mediumterm chart.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Relative Strength Index (RSI)

RSI14 is 57 and the stock is currently not being overbought or oversold

Support & Resistance

TELUS Corporation finds support from accumulated volume at USD 32.80, USD 32.66, and USD 32.37. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 33.44, USD 32.96 and USD 33.08.

The stock is about to test the resistance from accumulated volume at USD 33.44 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 0.25 (0.77%) between high and low. For the last week, the stock has had a daily average volatility of 1.27%.

Our recommended stoploss: USD 31.11 (-5.32%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)

Evaluation

TELUS Corporation holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.

Hold/Accumulate

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