TRANSALTA CORP (TAC) Stock Technical Analysis
NYSE:TAC - New York Stock Exchange, Inc. - CA89346D1078 - Common Stock - Currency: USD
Overall TAC gets a technical rating of 9 out of 10. In the last year, TAC was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, TAC did better than 90% of all other stocks.
TAC is part of the Independent Power and Renewable Electricity Producers industry. There are 19 other stocks in this industry. TAC outperforms 72% of them.
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 1470480 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.
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.
More info and screens
8.56
11.59
When analyzing the support we can see 3 important areas.
- A support zone ranging from 10.85 to 10.85. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @9.00 from a trend line in the daily time frame.
- Support @8.65 from a trend line in the weekly time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 11.10 to 11.10. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 11.28 to 11.29. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @11.48 from a horizontal line 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 | 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 | 90.85 | POSITIVE | TAC has a high relative strength, it outperformed 90.85% 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) | 59.31 | NEUTRAL | The RSI value for TAC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests TAC has a negative trend. |
| Stochastics (14,3) | 62.54 | NEUTRAL | The Stochastics value for TAC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.47 | MEDIUM VOLATILITY | The ATR as a percentage value for TAC suggests some volalility. |
| Average Directional Index/ADX (14) | 43.46 | 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)
10.86
-0.15 (-1.36%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg-1.36%
1 Week-3.89%
2 Weeks4.42%
1 Month15.04%
3 Month14.68%
6 Month-23.74%
12 Month53.39%
2 Year16.03%
3 Year-4.74%
5 Year83.14%
10 Year40.13%
15 Year-41.3%
Volatility
ATR(14)0.38
ATR(20)%3.47%
ATR Inc-34.54%
Range Today0.26
ADR(20)0.34
ADR(20)%3.17%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.85
Mansfield0.15
10 Day High11.51
10 Day Low10.31
20 Day High11.51
20 Day Low9.43
52 Week High14.64
52 Week Low6.78
CS1 End10.85
CR1 Start11.1
Volume & EV
DER(3)-1.97%
DER(5)-1.26%
Volume953.10K
Volume Incr-17.4%
Vol(5)1.60M
Vol(50)1.47M