TRANSALTA CORP (TAC) Stock Technical Analysis
NYSE:TAC - New York Stock Exchange, Inc. - CA89346D1078 - Common Stock - Currency: USD
Taking everything into account, TAC scores 7 out of 10 in our technical rating. In the past year, TAC was one of the better performing stocks in the market. The medium term picture became unclear, although we see some improvement happening in recent action.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
TAC is one of the better performing stocks in the Independent Power and Renewable Electricity Producers industry, it outperforms 73% of 20 stocks in the same industry.
In the last month TAC has a been trading in the 8.34 - 10.67 range, which is quite wide. It is currently trading near the high of this range.
TAC has an average volume of 1229790 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, TAC did better than 89% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
TAC is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so TAC is lagging the market slightly.
Although TAC has an excellent technical rating, it does not present a decent entry opportunity 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
8.35
10.50
3 important support areas can be observed.
- A support zone ranging from 9.27 to 9.34. 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 8.80 to 8.86. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 8.43 to 8.53. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 10.30 to 10.40. 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 | NEUTRAL | NEUTRAL | The long term trend for TAC is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TAC is up. |
| ChartMill Relative Strength | 89.54 | POSITIVE | TAC has a high relative strength, it outperformed 89.54% 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 | MIXED | The current price of TAC is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 67.56 | NEUTRAL | The RSI value for TAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.13 | POSITIVE | The MACD value suggests TAC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 84.27 | OVERBOUGHT | The high Stochastics value suggests TAC may be overbought. |
| Average True Range in percent/ATR (20) | 3.04 | MEDIUM VOLATILITY | The ATR as a percentage value for TAC suggests some volalility. |
| Average Directional Index/ADX (14) | 23.04 | NEUTRAL | The ADX value for TAC suggests a possible start of a new 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)
10.29
+0.16 (+1.58%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg1.58%
1 Week5.97%
2 Weeks16.01%
1 Month20.77%
3 Month10.41%
6 Month-23.66%
12 Month43.31%
2 Year9.94%
3 Year-9.74%
5 Year73.52%
10 Year32.77%
15 Year-44.38%
Volatility
ATR(14)0.32
ATR(20)%3.04%
ATR Inc75.88%
Range Today0.55
ADR(20)0.3
ADR(20)%2.94%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.54
Mansfield0.02
10 Day High10.67
10 Day Low8.73
20 Day High10.67
20 Day Low8.34
52 Week High14.64
52 Week Low6.78
CS1 End9.34
CR1 Start10.3
Volume & EV
DER(3)1.98%
DER(5)2.48%
Volume1.91M
Volume Incr26.89%
Vol(5)1.62M
Vol(50)1.23M