TRANSALTA CORP (TAC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:TAC - CA89346D1078 - Common Stock
We assign a technical rating of 0 out of 10 to TAC. TAC's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- 83% of all other stocks performed better in the past year than TAC.
- TAC is part of the Independent Power and Renewable Electricity Producers industry. There are 20 other stocks in this industry, of which 68% are performing better than TAC.
- TAC has an average volume of 1445060 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is negative, the long term trend is neutral. Not much exciting going on here.
- 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.
- In the last month TAC has a been trading in the 11.96 - 13.37 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Volume is considerably higher in the last couple of days.
Although the technical rating is bad, TAC does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 12.93. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 12.66, 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
9.41
We found 3 important support areas.
- A support zone ranging from 12.00 to 12.66. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.89 from a trend line in the weekly time frame.
- Support @9.50 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 12.93 to 13.02. This zone is formed by a combination of multiple trend lines in the daily time frame.
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 | NEUTRAL | NEUTRAL | The long term trend for TAC is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for TAC is down. |
| ChartMill Relative Strength | 17.4 | NEGATIVE | TAC has a low relative strength, it was outperformed by 82.6% 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) | 47.84 | NEUTRAL | The RSI value for TAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests TAC has a positive trend. |
| Stochastics (14,3) | 39.01 | NEUTRAL | The Stochastics value for TAC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.27 | MEDIUM VOLATILITY | The ATR as a percentage value for TAC suggests some volalility. |
| Average Directional Index/ADX (14) | 22.62 | NEUTRAL | The ADX value for TAC suggests a possible start of a new trend. |
12.7
+0.23 (+1.84%)
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 47.8361. 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.