TELUS shares technical analysis: Support test at C$11.98 in focus

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Telus dips 0.41% to C$12.23 today

Highlights

TELUS stock trades below all key moving averages with persistent downward momentum across timeframes.
Indicators mostly signal selling pressure, although some oscillators are oversold or diverge on direction.
Expected trading range is C$11.98 to C$12.48, with very high probability of further downside and little sign of recovery.

Downside momentum intensifies as oscillators diverge near oversold levels

On the technical side, T remains below the MA-20 at C$12.41 and MA-50 at C$12.56 on the H1 chart, and is well beneath the MA-200 at C$16.67 on the daily timeframe. The Ichimoku Kijun at C$12.46 marks immediate resistance. Both MACD and ADX continue to register Sell signals, while the Awesome Oscillator also signals ongoing downside momentum. The current RSI sits at 37.18, indicating a Sell reading, with CCI signaling oversold conditions, in contrast to Stoch RSI, which shows a strong buy and highlights a divergence among oscillators. Bull/Bear Power confirms intraday seller dominance.

Limited upside as downside risk persists in tight trading band

Over the coming sessions, T is expected to consolidate in a volatility band from C$11.98 to C$12.48. Upward price moves face very low probability in the short term, while downside risk remains elevated. The baseline scenario projects continued range-bound trade, though a breakout above the C$12.46 resistance could prompt a limited recovery, whereas a drop below C$11.98 would likely open the door to additional losses.

Viktoras Karapetjanc, expert at Traders Union, sees a technically weak setup for TELUS, with several indicators signaling ongoing downside. He notes that the price remains stuck below key moving averages and resistance levels, and that negative momentum persists. However, Karapetjanc remains constructive, pointing out that the current volatility band could present opportunities if resistance at C$12.46 is broken. "Should buyers reclaim momentum above C$12.46, a limited rebound could follow — until then, I expect continued consolidation within the current range."

Earlier, analysts noted that TELUS was experiencing sustained bearish momentum with little prospect for near-term recovery. The current technical setup reinforces this negative bias, with heightened downside risk making the C$11.98 support an essential level for traders to monitor in the sessions ahead.

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.