TRANSALTA CORP (TAC) Stock Technical Analysis
USA - NYSE:TAC - CA89346D1078 - Common Stock
13.62 USD
+0.13 (+0.96%)
13.62 USD
0 (0%)
Taking everything into account, TAC scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TAC is showing a nice and steady performance.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that TAC is one of the better performing stocks in the market, outperforming 85% of all stocks.
TAC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so TAC is lagging the market slightly.
TAC is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
TAC has an average volume of 1132070 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
TAC is part of the Independent Power and Renewable Electricity Producers industry. There are 20 other stocks in this industry, TAC did better than 63% of them.
Besides having an excellent technical rating, TAC also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. We notice that large players showed an interest for TAC in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
9.10
14.59
We found 3 important support areas.
- A support zone ranging from 12.79 to 12.89. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 11.99 to 12.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @9.19 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 14.28 to 14.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for TAC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TAC is up. |
| ChartMill Relative Strength | 85.89 | POSITIVE | TAC has a high relative strength, it outperformed 85.89% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TAC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TAC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TAC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.98 | NEUTRAL | The RSI value for TAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests TAC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 82.08 | OVERBOUGHT | The high Stochastics value suggests TAC may be overbought. |
| Average True Range in percent/ATR (20) | 2.25 | MEDIUM VOLATILITY | The ATR as a percentage value for TAC suggests some volalility. |
| Average Directional Index/ADX (14) | 42.21 | POSITIVE | The high ADX value value for TAC suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 13.91 | 12.63 | 1.27 (9.17%) | 10.91% |
| An entry @13.90. This is a Buy Stop order right above the 10 day high. | An exit @12.63. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.27 points, which is 9.17%. | When investing 10.91% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
13.62
+0.13 (+0.96%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg0.96%
1 Week-0.15%
2 Weeks7.75%
1 Month8.01%
3 Month27.41%
6 Month43.82%
12 Month31.47%
2 Year56.55%
3 Year54.25%
5 Year121.46%
10 Year192.9%
15 Year-36.3%
Volatility
ATR(14)0.33
ATR(20)%2.25%
ATR Inc-34.66%
Range Today0.19
ADR(20)0.29
ADR(20)%2.12%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS85.89
Mansfield1.03
10 Day High13.9
10 Day Low12.64
20 Day High13.9
20 Day Low11.94
52 Week High14.64
52 Week Low7.82
CS1 End12.89
CR1 Start14.28
Volume & EV
DER(3)3.54%
DER(5)2.68%
Volume526.90K
Volume Incr-20.24%
Vol(5)873.20K
Vol(50)1.13M