Rogers Communication stock resistance test at $33.74: Technical outlook

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Rogers Communication gains 0.38% today

Highlights

Rogers Communication delivered adjusted earnings of $0.83 per share in Q2 2026, surpassing estimates and growing 1.2% year over year.
Free cash flow rose 6% to $1.0 billion, supporting a quarterly dividend of C$0.50 per share with a 6.0% yield.
Technical outlook is bearish, with price likely to consolidate between $31.68 and $33.92 as downside probability remains high.

Earnings beat and cash growth as core business strengthens

Rogers Communication reported second-quarter 2026 adjusted earnings of $0.83 per share, exceeding estimates and registering a 1.2% increase year over year, highlighting its operating strength for the period. Revenue of $3.95 billion also surpassed forecasts, reflecting robust core performance and supporting near-term cash generation. The company recorded a 6% rise in free cash flow to $1.0 billion, while reaffirming its outlook for service revenue and EBITDA growth in 2026. Rogers Communication additionally declared a quarterly dividend of C$0.50 per share, with an annualized yield of 6.0%, according to Tradingview.

Bearish momentum confirmed as resistance caps rebound attempts

RCI is trading below the MA-20 ($33.44) and MA-50 ($34.15) on the hourly timeframe, with MA-200 at a higher $36.93. The Kijun (Ichimoku) stands at $33.74, providing immediate resistance and limiting potential upward moves. Momentum indicators including MACD and ADX are both set to Sell, while RSI is at 34.33 and CCI reinforces prevailing downside momentum. Although Stoch RSI shows an overbought condition, this contrasts with strong selling signals from Bull/Bear Power and Awesome Oscillator, both indicating sellers remain dominant amid moderate volatility near today's highs.

Downside scenario likely as breakout risks remain limited

Over the next 2–3 trading days, RCI is expected to trade within a typical volatility range of $31.68 to $33.92. The likelihood of an upside move remains low, while downside risk is pronounced and a bullish reversal is considered unlikely. The baseline scenario anticipates consolidation within this band. A sustained move above the $33.74 resistance would be needed for a bullish breakout, while a drop below the $31.68 support zone would likely invite further selling pressure.

Anton Kharitonov, expert at Traders Union, sees Rogers Communication showing stable operational fundamentals after its recent earnings and cash flow beat. However, momentum remains weak, with key technical indicators pointing to continued selling pressure and resistance capping upside moves. He expects price to remain confined between $31.68 and $33.92, with the risk still skewed to the downside. "Until RCI reclaims the $33.74 resistance, I remain defensive and see limited scope for a bullish reversal."

Earlier, analysts noted that Rogers Communication stock remained under downside pressure amid cautious technical signals, despite ongoing improvements in operational efficiency and financial fundamentals. The current setup, reinforced by stronger-than-expected earnings and persistent selling momentum, suggests traders should monitor the $33.74 resistance for a potential shift in trend, as downside risks remain elevated in the near term.

Source of Data: 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.