TELUS reports C$660 million loss and dividend cut: T faces pullback risk

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Telus drops 1.18% to C$13.03 today

Highlights

TELUS Corporation reported a net loss of C$660 million in the third quarter of 2026 due to an C$800 million goodwill impairment in its Health segment.
The company reduced its quarterly dividend by 55% to C$0.1875 per share and announced a C$900 million annual efficiency program to save costs by 2028.
Shares of TELUS trade above short-term averages but remain below long-term resistance, with overbought indicators and a projected trading range of C$12.67 to C$13.39.

Profitability pressured by Health writedown as restructuring accelerates

TELUS Corporation reported a third-quarter 2026 net loss of C$660 million, primarily driven by an C$800 million non-cash goodwill impairment in its Health segment, according to Yahoo Finance. This sizable writedown weighed on near-term profitability and contributed to downward investor reaction, while the company also introduced a C$900 million annual efficiency program targeting operational and capital expenditure savings by the end of 2028. TELUS further reduced its quarterly dividend by 55% to C$0.1875 per share as part of broader restructuring efforts, as reported by Panabee, compounding the cautious market response.

Short-term upside meets overbought signals as major resistance looms

On the H1 chart, T is trading above the MA-20 at C$12.79 and the MA-50 at C$12.45, but still below the MA-200 at C$15.64. The Ichimoku Kijun line at C$12.81 acts as immediate support, with resistance near C$13.39 and support at C$12.67 for the coming sessions. MACD and ADX both indicate ongoing bullish momentum, while RSI, Stoch RSI, and CCI all remain in overbought territory, reflecting potential for a short-term pullback. Bull/Bear Power is positive at 0.27, denoting buyer dominance, while the Awesome Oscillator signals neutrality, suggesting mixed conviction despite prevailing trends.

Sideways outlook with breakout triggers as oscillators warn of volatility

Looking ahead, T’s short-term trading is expected to remain within a C$12.67 to C$13.39 range, in line with the typical volatility band relative to current levels. There is a 78% probability of an upward scenario, though oscillators indicate a non-negligible risk of temporary correction before any sustained breakout. Baseline expectations favor sideways movement unless resistance or support levels are breached, with a bullish breakout above C$13.39 or a bearish dip below C$12.67 to dictate the next directional move.

Anton Kharitonov, analyst at Traders Union, sees TELUS stock under pressure following the hefty goodwill impairment and sharp dividend cut. He notes that, despite short-term technical support and some bullish momentum, fundamentals and sentiment remain weak. Kharitonov believes that operational restructuring and portfolio sales could stabilize the outlook, but only after execution risk subsides. "Until TELUS reclaims C$13.39 with improving news flow, I remain cautious and defensive on the stock."

Earlier, analysts noted that TELUS faced pressure from a major Health segment impairment and a sharp dividend reduction, leading to a period of heightened scrutiny over its core operations. The current technical setup reinforces a cautious stance, with traders advised to watch for a decisive move beyond C$13.39 resistance or below C$12.67 support to determine near-term direction.

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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