As this happened, Scotiabank downgraded its Telus Corp. [TU] rating to a Sector perform from a a Sector outperform in a research note published recently. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early January from “an Overweight” to “a Neutral”. TD Securities also remained covering TU and has increased its forecast on June 17, 2022 with a “Buy” recommendation from previously “Hold” rating. Barclays revised its rating on May 10, 2022. It rated TU as “an Equal weight” which previously was an “an Overweight”.
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Price Performance Review of TU
On Tuesday, Telus Corp. [NYSE:TU] saw its stock jump 0.06% to $16.14. Over the last five days, the stock has lost -0.12%. Telus Corp. shares have fallen nearly -9.27% since the year began. Nevertheless, the stocks have fallen -3.41% over the past one year. While a 52-week high of $19.14 was reached on 01/24/24, a 52-week low of $14.63 was recorded on 07/02/24. SMA at 50 days reached $16.42, while 200 days put it at $16.56.
Levels Of Support And Resistance For TU Stock
The 24-hour chart illustrates a support level at 16.06, which if violated will result in even more drops to 15.98. On the upside, there is a resistance level at 16.24. A further resistance level may holdings at 16.34. The Relative Strength Index (RSI) on the 14-day chart is 39.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.72%. Stochastics %K at 22.70% indicates the stock is a holding.
How much short interest is there in Telus Corp.?
A steep rise in short interest was recorded in Telus Corp. stocks on 2024-09-30, dropping by -0.95 million shares to a total of 29.28 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 30.23 million shares. There was a decline of -3.25%, which implies that there is a negative sentiment for the stock.
