TEL Technical Analysis - TELENOR ASA

Technical Rating and Analysis

Taking everything into account, TEL scores 6 out of 10 in our technical rating. Although TEL is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!

TEL is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so TEL is lagging the market slightly.

When compared to the yearly performance of all other stocks, TEL outperforms 68% of them, which is more or less in line with the market.

TEL is part of the Diversified Telecommunication Services industry. There are 33 other stocks in this industry, TEL did better than 65% of them.

In the last month TEL has a been trading in a tight range between 162.20 and 170.20.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

TEL has an average technical rating and also 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

136.61

172.11

When analyzing the support we can see 4 important areas.

A support zone ranging from 162.80 to 166.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @159.70 from a horizontal line in the daily time frame.
Support @156.70 from a horizontal line in the daily time frame.
Support @137.99 from a trend line in the weekly time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 168.60 to 170.41. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

Technical Indicator Signal Analysis

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 TEL.OL is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for TEL.OL is neutral.
ChartMill Relative Strength	68.65	NEUTRAL	TEL.OL is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of TEL.OL is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of TEL.OL is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of TEL.OL is above the rising SMA(200).
Relative Strength Index/RSI (14)	50.7	NEUTRAL	The RSI value for TEL.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.34	POSITIVE	The MACD value suggests TEL.OL has a positive trend, although the MACD value is declining.
Stochastics (14,3)	80.12	OVERBOUGHT	The high Stochastics value suggests TEL.OL may be overbought.
Average True Range in percent/ATR (20)	1.33	LOW VOLATILITY	The low ATR as a percentage value for TEL.OL suggests low volalility.
Average Directional Index/ADX (14)	14.57	NEGATIVE	The low ADX value for TEL.OL suggests a weak or negative trend.