TELUS shares drop around 1.5% after renewed technical momentum drives sellers

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Telus slides 1.58% today to C$11.80

Highlights

Shares of TELUS trade below all major moving averages, confirming persistent downward pressure across short, medium, and long timeframes.
Momentum and trend-based indicators show clear weakness, with MACD, ADX, and several oscillators all in oversold territory and favoring sellers.
The forecast range for the next five sessions is C$11.61 to C$12.03, with over 80% probability of further downside unless C$12.03 is surpassed.

Anton Kharitonov, expert at Traders Union, sees TELUS locked in a pronounced bearish phase. He notes a clear absence of news catalysts, leaving technical pressure unchecked. Key moving averages and oscillators reinforce a lack of buyer conviction, while oversold readings hint at persistent weakness. Downside risk remains high with consolidation at lower price levels likely. He concludes, "Sellers dominate this setup and I see little reason for reversal until strong support or fresh news shifts sentiment."

Viktoras Karapetjanc, expert at Traders Union, focuses on the resilience of TELUS in challenging conditions. He highlights that despite the lack of fresh news, the market often presents hidden opportunities in oversold stocks. The present technical structure may attract bargain hunters seeking rebound potential above C$12.03. He sees further growth as likely if consolidation holds. He adds, "Bullish setups often emerge after oversold phases — I see upside prospects building for TELUS on any stabilization."

Parshwa Turakhiya, analyst, observes that sentiment remains fragile as TELUS grinds close to support at C$11.61. He notes severe oversold conditions based on RSI and CCI, opening room for short-term volatility trades. Turakhiya sees the consolidation band as a tactical range for active traders rather than a directional bet. He remarks, "For now, I’d watch for quick reversals near key support levels and stay nimble around C$11.61 to C$12.03."

Momentum oscillators and oversold readings reinforce persistent downside

TELUS is trading below its 20-day (C$12.74), 50-day (C$13.47), and 200-day (C$16.51) moving averages, indicating continued downward pressure across all observed timeframes. The Ichimoku Kijun (C$12.89) acts as immediate resistance, with technical ceilings at C$11.87 and support at C$11.61 affirming a sustained bearish setup. Momentum oscillators, including MACD and ADX, extend the case for further weakness, while the RSI, Stochastic RSI, and CCI all signal oversold conditions. Bear Power remains negative, confirming seller dominance. The Awesome Oscillator also supports the persistent downside move, with prices near session lows and volatility at 1.34%.

Earlier, analysts noted that TELUS was experiencing sustained downside momentum and a cautious technical outlook driven by persistent selling pressure. The latest data reinforce this narrative and highlight the importance of monitoring the C$11.61 support level as a potential pivot point in the current consolidation phase.

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

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