TRANSALTA CORP. - Daily - Technical analysis published on 12/19/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 6.72 USD
My targets
7.49 USD (+7.77%)
8.10 USD (+16.56%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on TRANSALTA CORP. as long as the price remains well above 6.72 USD. The buyers” bullish objective is set at 7.49 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.10 USD. If there is any crossing, the next objective would be the resistance located at 14.04 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
8.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
TRANSALTA CORP. rating 6.95 USD. The price registered a decrease of -0.43% on the session and was between 6.94 USD and 7.01 USD. This implies that the price is at +0.14% from its lowest and at -0.86% from its highest.6.94
7.01
6.95
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by TRANSALTA CORP.:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this TRANSALTA CORP. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.11 | 6.36 | 6.72 | 6.95 | 7.49 | 14.04 | 23.03 |
| Change (%) | -12.09% | -8.49% | -3.31% | - | +7.77% | +102.01% | +231.37% |
| Change | -0.84 | -0.59 | -0.23 | - | +0.54 | +7.09 | +16.08 |
| Level | Minor | Minor | Major | - | Major | Minor | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.63 | 6.71 | 6.84 | 6.92 | 7.05 | 7.13 | 7.26 |
| Camarilla | 6.92 | 6.94 | 6.96 | 6.98 | 7.00 | 7.02 | 7.04 |
| Woodie | 6.67 | 6.72 | 6.88 | 6.93 | 7.09 | 7.14 | 7.30 |
| Fibonacci | 6.71 | 6.79 | 6.84 | 6.92 | 7.00 | 7.05 | 7.13 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.31 | 6.45 | 6.64 | 6.78 | 6.97 | 7.11 | 7.30 |
| Camarilla | 6.75 | 6.78 | 6.81 | 6.84 | 6.87 | 6.90 | 6.93 |
| Woodie | 6.35 | 6.46 | 6.68 | 6.79 | 7.01 | 7.12 | 7.34 |
| Fibonacci | 6.45 | 6.57 | 6.65 | 6.78 | 6.90 | 6.98 | 7.11 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.05 | 5.40 | 6.07 | 6.42 | 7.09 | 7.43 | 8.10 |
| Camarilla | 6.46 | 6.55 | 6.65 | 6.74 | 6.83 | 6.93 | 7.02 |
| Woodie | 5.22 | 5.48 | 6.23 | 6.50 | 7.25 | 7.51 | 8.26 |
| Fibonacci | 5.40 | 5.79 | 6.03 | 6.42 | 6.80 | 7.04 | 7.43 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 63.25 | |
| MACD (12,26,9): | 0.1300 | |
| Directional Movement: | 11.04 | |
| AROON (14): | 14.28 | |
| DEMA (21): | 6.91 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.63 | |
| Elder Ray (13): | 0.18 | |
| Super Trend (3,10): | 6.52 | |
| Zig ZAG (10): | 7.00 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 71.79 | |
| TEMA (21): | 6.94 | |
| Williams %R (14): | -8.77 | |
| Chande Momentum Oscillator (20): | 0.28 | |
| Repulse (5,40,3): | 1.9700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2900 | |
| Courbe Coppock: | 5.64 |
| MA7: | 6.84 | |
| MA20: | 6.74 | |
| MA50: | 6.40 | |
| MA100: | 6.38 | |
| MAexp7: | 6.87 | |
| MAexp20: | 6.74 | |
| MAexp50: | 6.55 | |
| MAexp100: | 6.43 | |
| Price / MA7: | +1.61% | |
| Price / MA20: | +3.12% | |
| Price / MA50: | +8.59% | |
| Price / MA100: | +8.93% | |
| Price / MAexp7: | +1.16% | |
| Price / MAexp20: | +3.12% | |
| Price / MAexp50: | +6.11% | |
| Price / MAexp100: | +8.09% |
News
The latest news and videos published on TRANSALTA CORP. at the time of the analysis were as follows:
- TransAlta Announces Clean Energy Initiatives and Provides 2019 Outlook
- TransAlta Declares Dividends
- TransAlta Announces Appointment of Chief Financial Officer
- TransAlta Reports Third Quarter 2018 Results
- TransAlta Renewables' New Brunswick wind power expansion complete
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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