Telus stock slides as foreign investment limit removal proposal weighs on sentiment

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Telus slides 1.44% today to C$16.07

Highlights

TELUS's outgoing CEO has advocated eliminating foreign investment limits for Canadian telecoms, potentially unlocking greater international capital access if regulations change.
With Darren Entwistle retiring after 26 years effective June 30, TELUS faces a possible reassessment of strategic priorities amid sustained share price pressure.
Technicals show TELUS trades below major moving averages with strong bearish momentum; C$15.67–C$16.27 is the expected near-term range, with downside risk prevailing.

Foreign investment access considered amid CEO departure and strategic uncertainty

Darren Entwistle, the outgoing CEO of TELUS Corporation, has taken a public position advocating for the removal of foreign investment caps for major Canadian telecom firms, which could eventually allow Telus enhanced access to international capital, according to Theglobeandmail. This development introduces the possibility of greater financial flexibility and potential new funding sources should regulatory changes occur. Meanwhile, Entwistle’s planned retirement on June 30 after a 26-year tenure may prompt reassessment of Telus’s strategic direction, although price action has remained under broader selling pressure.

Momentum favors further downside as oscillators align and trend weakens

T is trading below the MA-20 at C$16.24 and MA-50 at C$16.36 on the hourly chart, with the daily MA-200 much higher at C$18.74. Immediate resistance is identified at the Ichimoku Kijun level of C$16.24, and the current forecasted trading range for the next sessions is C$15.67 to C$16.27. MACD, Awesome Oscillator, and BBP all signal a sell setup, while RSI stands at 37.64 and CCI in oversold territory, highlighting building downside pressure. ADX and Stoch RSI indicate a lack of trend strength, and today’s session closed near the low with moderate volatility, confirming aligned momentum and oscillator signals with no major divergences.

Limited rebound likely as range persists with downside risk on break

Over the next several sessions, the price of T is expected to remain within the C$15.67 to C$16.27 range, consistent with the recent volatility band. The likelihood of a recovery is limited; a move above resistance at C$16.24 would open the path to higher levels, while a break below C$15.67 could trigger further downside and sustain the current negative momentum.

Anton Kharitonov, analyst at Traders Union, sees continued downside for Telus as technical signals remain negative and the stock trades below all key moving averages. He notes Entwistle’s retirement and push for regulatory change create uncertainty, but these have not improved the short-term outlook. The price action stays weak and momentum indicators point to further pressure. "Unless C$16.24 is reclaimed soon, I expect the bearish trend to persist and am not considering a long position here."

Earlier, analysts noted that Telus was experiencing persistent technical weakness and ongoing seller pressure despite positive corporate developments. The current environment not only reinforces this cautious outlook but also introduces potential longer-term shifts, with CEO succession and advocacy for relaxed foreign investment limits emerging as factors that could eventually reshape Telus’s strategic landscape—making the C$15.67 support a critical level to watch for signs of a directional turn.

Source of Data: T Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.