TRANSALTA CORP (TAC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:TAC - CA89346D1078 - Common Stock
Overall TAC gets a technical rating of 0 out of 10. TAC scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, TAC is a bad performer in the overall market: 85% of all stocks are doing better.
- TAC is one of the lesser performing stocks in the Independent Power and Renewable Electricity Producers industry. 73% of 20 stocks in the same industry do better.
- In the last month TAC has a been trading in the 11.96 - 13.13 range, which is quite wide. It is currently trading near the lows of this range.
- TAC has an average volume of 1648280 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- TAC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so TAC is lagging the market.
TAC has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 13.03. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 12.54, a Stop Loss order could be placed below this zone. 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
9.37
When analyzing the support we can see 4 important areas.
- A support zone ranging from 12.36 to 12.54. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @12.09 from a horizontal line in the daily time frame.
- Support @9.85 from a trend line in the weekly time frame.
- Support @9.46 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 13.03 to 13.03. 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 | DOWN | NEGATIVE | The long term trend for TAC is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for TAC is down. |
| ChartMill Relative Strength | 15.12 | NEGATIVE | TAC has a low relative strength, it was outperformed by 84.88% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of TAC is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of TAC is below a declining 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) | 43.2 | 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. |
| Stochastics (14,3) | 31.94 | NEUTRAL | The Stochastics value for TAC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.8 | MEDIUM VOLATILITY | The ATR as a percentage value for TAC suggests some volalility. |
| Average Directional Index/ADX (14) | 26.1 | POSITIVE | The high ADX value value for TAC suggests a strong trend. |
12.56
+0.21 (+1.7%)
TRANSALTA CORP / TAC FAQ
What is the ChartMill technical rating of TRANSALTA CORP (TAC) stock?
ChartMill assigns a technical rating of 0 / 10 to TAC.
What is the current trend direction of TRANSALTA CORP (TAC) stock?
The current trend direction for TRANSALTA CORP (TAC) is Bearish.
What is the RSI signal for TAC stock?
TRANSALTA CORP (TAC) has an RSI value of 43.1952. This indicates that the stock is currently neutral.
What is the short term momentum for TAC stock?
The short term momentum for TRANSALTA CORP (TAC) is negative.
What is the buy/sell signal for TRANSALTA CORP (TAC) stock?
The buy/sell signal for TRANSALTA CORP (TAC) is sell as both the short term and long term trends are negative.