The technicians. We are a complex bunch. Thousands of interpretations of different indicators. But today, Telus (T.TO) rang up a new 52 week high. It can't be much simpler than someone willing to pay more for the stock than ever before.
My iPhone cell plan is more money, the iPhone is in high demand and Telus actually have stock. Is it more than that? Maybe, but the chart tells us that the investors have found renewed interest after Telus hovered between 36 and 41 for the whole year.
The SCTR is above 75. The SPURS are sloping up. The MACD has turned up. Stops can go just below this weeks candle in case it does not hold.
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Good trading,
Greg Schnell, CMT
