TRANSALTA CORP (TAC) Stock Technical Analysis
NYSE:TAC - New York Stock Exchange, Inc. - CA89346D1078 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to TAC. Both in the recent history as in the last year, TAC has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, TAC did better than 92% of all other stocks.
In the last month TAC has a been trading in the 10.28 - 12.81 range, which is quite wide. It is currently trading near the high of this range.
TAC has an average volume of 1452160 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
TAC is an average performer in the Independent Power and Renewable Electricity Producers industry, it outperforms 66% of 19 stocks in the same industry.
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 an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
8.73
12.49
When analyzing the support we can see 2 important areas.
- A support zone ranging from 10.90 to 11.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @8.82 from a trend line in the weekly time frame.
We found 1 important resistance area.
- Resistance @12.37 from a horizontal line in the weekly 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 | 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 | 92.14 | POSITIVE | TAC has a high relative strength, it outperformed 92.14% 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) | 66.36 | 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) | 83.53 | OVERBOUGHT | The high Stochastics value suggests TAC may be overbought. |
| Average True Range in percent/ATR (20) | 3.06 | MEDIUM VOLATILITY | The ATR as a percentage value for TAC suggests some volalility. |
| Average Directional Index/ADX (14) | 41.82 | 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 |
|---|---|---|---|
| 12.38 | 11.33 | 1.05 (8.48%) | 11.79% |
| An entry @12.38. This is a Buy Stop order right above the resistance zone. | An exit @11.33. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.05 points, which is 8.48%. | When investing 11.79% 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.
12.27
-0.05 (-0.41%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg-0.41%
1 Week-0.73%
2 Weeks7.54%
1 Month14.57%
3 Month36.49%
6 Month-8.91%
12 Month67.62%
2 Year20.18%
3 Year7.44%
5 Year88.19%
10 Year93.84%
15 Year-39.53%
Volatility
ATR(14)0.41
ATR(20)%3.06%
ATR Inc-33.96%
Range Today0.16
ADR(20)0.35
ADR(20)%2.87%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.14
Mansfield0.66
10 Day High12.81
10 Day Low11.34
20 Day High12.81
20 Day Low10.28
52 Week High14.64
52 Week Low7.27
CS1 End11.04
CR1 Start12.37
Volume & EV
DER(3)0.63%
DER(5)3.04%
Volume1.01M
Volume Incr-12.8%
Vol(5)1.01M
Vol(50)1.45M