Telus Corp. (TU) looks like it can continue higher this year, extending the gains from its early 2016 nadir. A review of the up-to-date charts and indicators should give us some useful parameters to work with. Let's check.
In this daily bar chart of TU, below, we can see that prices have been trending higher from early March. TU is above the rising 50-day moving average line and well above the positively sloped 200-day moving average. While volume has slowed from mid-November levels, the daily On-Balance-Volume (OBV) line has only be flat/neutral in December and does not suggest that buyers or sellers of TU are being aggressive. The trend-following Moving Average Convergence Divergence (MACD) oscillator turned upward about a week or so ago to a fresh go long signal.
In this weekly bar chart of TU, below, we can see that prices are comfortably above the rising 40-week moving average line. The weekly OBV line shows a positive trend the past two years but also a high in early November that might become a peak. The weekly MACD oscillator is above the zero line in bullish territory but the two moving averages that make up this indicator are on top of each other and turn up or down (bullish or bearish) from here depending on the price action.
In this Point and Figure chart of TU, below, we ignore volume and we ignore time as the chart is driven by price reversals. Small "jiggles" or "noise" are also ignored. Prices are in an uptrend with no signs of distribution or selling. A trade up at $38.23 will be a fresh breakout and open the way to a possible longer-term price objective of $45.46.
Bottom line: Regular readers of Kamich's Korner know that most of the time I like buying strength. Aggressive traders could go long TU above $38 and above $38.50. Risk a close below $36 and look for gains to the mid-$40s.