Can TELUS stock extend gains as trading stays above short-term averages?

Traders Union
All News
Financial News
Telus rises 1.97% to C$14.98 today

Highlights

TELUS exhibits short- and medium-term bullish momentum, trading above key moving averages on the hourly chart.
Long-term sentiment remains bearish as the price stays below the major daily moving average, moderating the near-term upside.
Price is expected to range between C$14.75 and C$15.21 over the next 2–3 days, with a 71% probability of an upward move.

Upward bias capped by neutral long-term momentum signals

T is trading above the MA-20 at C$14.85 and the MA-50 at C$14.81 on the H1 timeframe. However, it remains below the MA-200 at C$18.25 on the daily chart. Immediate support is established by the Ichimoku Kijun at C$14.82. The Relative Strength Index (RSI) is at 57.85. Both the Commodity Channel Index (CCI) and Bull/Bear Power indicate growing buying pressure over the short term, while the Moving Average Convergence Divergence (MACD), Average Directional Index (ADX), Stochastic RSI, and Awesome Oscillator remain neutral, highlighting the absence of a decisive momentum shift beneath today's constructive price action.

High upward probability as consolidation expected in set range

Over the next 2–3 trading days, T is expected to fluctuate within a typical volatility band of C$14.75 to C$15.21. Probability for an upward move is high at 71%, with a 29% chance of a downward move. The most likely scenario is consolidation within this corridor; a break above resistance could see the price test the upper end, while a move below support would expose it to the lower bound of the range.

Anton Kharitonov, expert at Traders Union, believes the technical setup for TELUS remains constructive, with price above key short- and medium-term moving averages and short-term indicators showing increased buying pressure. He notes, however, that neutral readings from several momentum indicators and the lack of strong news drivers call for caution. Kharitonov sees consolidation within C$14.75 to C$15.21 as the most likely course in the coming days, with the probability for a sustained breakout remaining limited until stronger signals appear. "Until TELUS reclaims the daily MA-200 at C$18.25, I remain cautious and favor a neutral to defensive stance."

Earlier, analysts noted that TELUS faced persistent selling pressure and heightened concern over the sustainability of its dividend amid bearish technical momentum. The current technical setup suggests that a sustained move above the MA-200 could be pivotal for altering medium-term sentiment, making it a critical level for investors to monitor in upcoming sessions.

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.