TU - TELUS Corporation

Industry: Wireless Communications Sector: Technology | Exchange: NYSE

Strong Buy Candidate
Buy Score Rank #164 out of #5176
Wed 26'th Jul 2017

PERIOD COVERED
2017-04-27 - 2017-07-26
CHANGE
0.14%
PRICE
$36.09
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

BOLLINGER
Buy
Request Prediction
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TELUS Corporation Stock Analysis

Technical stock analysis for Wed 26'th Jul 2017

Buy candidate since 2017-06-21 Gain 7.06%

TELUS Corporation gained 0.14% in the last trading day, rising from $36.04 to $36.09 The price has risen in 6 of the last 10 days and is up by 2.65% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 159 561 more shares were traded than the day before. In total, 478 943 shares bought and sold for approximately $17.29 million.

Trend

TELUS Corporation has broken the narrow and weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $35.72, a level that may pose a second chance to hit a runner. According to fan-theory $36.95 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.

Signals

Only positive signals in the chart today. TELUS Corporation holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $35.87 and $34.57. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday June 29, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

The stock had a Golden Star Signal* on Monday June 12, 2017 for the short-term and also have Golden Star Signal for the mediumterm dated Friday October 14, 2016.

* 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)

The stock holds a RSI14 at 80 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.

Support & Resistance

TELUS Corporation finds support from accumulated volume at . There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

Support: $36.04 Price: $36.09
S: $36.04 Price: $36.09

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 $0.36 (1.00%) between high and low. For the last week, the stock has had a daily average volatility of 1.14%.

The stock is extremely overbought on RSI14 (80). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stoploss: $34.14 (-5.41%) (This stock has low daily movements and this gives low risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from pivot bottom found 18 days ago.)

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

Evaluation

TELUS Corporation holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.

Strong Buy Candidate

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