Why is TELUS stock down 1.7% today?

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Telus slides 1.74% today to C$12.12

Highlights

TELUS Corporation posted a 1% year-over-year decrease in consolidated service revenue to $4.5 billion and recorded an $800 million non-cash impairment tied to TELUS Health, resulting in a $660 million net loss for the third quarter of 2026.
Management initiated a multi-year restructuring and efficiency program targeting $900 million in annualized cash savings by 2028, maintained the quarterly dividend, and has paused acquisitions.
Shares of TELUS closed at C$12.12, trading below key moving averages with mixed momentum readings, a 58% probability of moving down to the C$11.64 to C$12.6 range over the next five sessions.

Impairment-driven net loss shapes sentiment despite buyback signals and cost cuts

TELUS Corporation reported a 1% year-over-year decline in consolidated service revenue for the third quarter of 2026, totaling $4.5 billion. The results included an $800 million non-cash impairment related to TELUS Health, contributing to a net loss of $660 million. Management implemented a multi-year efficiency and restructuring program targeting $900 million in annualized cash savings by the end of 2028, reaffirmed financial targets, maintained the quarterly dividend, ended the dilutive dividend reinvestment plan discount, paused acquisitions, and highlighted operational improvements, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees TELUS facing persistent challenges. He points to declining service revenue, a heavy net loss, and restructuring charges as mounting headwinds. Weak price action below all key moving averages signals enduring seller dominance. Divergent oscillators and low momentum deepen uncertainty, while selling exhaustion remains unproven. "TELUS offers little near-term reward to compensate for ongoing structural and sentiment-driven risks," Kharitonov warns.

Viktoras Karapetjanc, expert at Traders Union, believes TELUS’s proactive restructuring and cost efficiency drive lay strong foundations. He sees management’s move to protect the dividend and end dilutive reinvestment as supportive for long-term value. Operational improvements should aid recovery as broader selling pressure abates. He remains confident in upside potential once market sentiment shifts. "The underlying bullish structure persists — further growth is likely as efficiency gains take hold," Karapetjanc states.

Jainam Mehta, market strategist, observes directional ambiguity for TELUS near support at C$12.08. He notes mixed momentum signals, with oversold stochastic RSI hinting at possible short-term rebounds. The wide five-day range keeps both breakout and breakdown scenarios in play. "A swift move above C$12.23 could attract tactical longs seeking a quick test of C$12.6," Mehta suggests.

Mixed momentum as bearish setup persists under key moving averages

T is trading below its 20-day (C$12.3), 50-day (C$12.23), and 200-day (C$15.52) moving averages, indicating persistent seller pressure across short-, medium-, and long-term trends. The nearest support is at C$12.08 (Ichimoku Kijun) and resistance lies at C$12.23 (MA-50), with a bearish bias confirmed by the MA-50 being below the MA-200. Momentum signals are mixed overall: the MACD and ADX show underlying bullish tendencies, but the RSI and CCI are neutral, and the Stochastic RSI is in the oversold zone. BBP remains positive, reflecting marginal intraday buying dominance, while the Awesome Oscillator is neutral and does not confirm a trend. The stock is trading near the session low following an initial upside gap, with volatility at 1.95%. Divergent oscillator readings and low momentum highlight short-term directional uncertainty despite selling exhaustion signals.

Earlier, analysts noted that TELUS remained under downside pressure as operational headwinds and asset writedowns weighed on technical signals. With the current article highlighting continued mixed momentum and key support at C$12.08, monitoring for a decisive break below this level is critical as it could accelerate downside risk toward C$11.64.

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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