Telesat: Moderate Buy Rating
According to Barchart.com, Telesat Corporation (TSAT) currently holds a moderate buy rating from the two analysts tracking the stock.
Background:
TELESAT CORPORATION (formerly Loral Space & Communications Inc.) is a leading satellite operator, headquartered in Ottawa, Canada. The company provides satellite communications services worldwide, supporting telecommunications, broadcasting, and enterprise applications.
Analysis:
My Elliott Wave count has identified a 3-wave corrective decline in Telesat’s stock price from February 14, 2025, where it peaked at $23.62, to February 21, 2025, where it bottomed at $18.60. A reversal and subsequent upward move breaking the downtrend would indicate a bullish trend.
The Relative Strength Index (RSI) over a 2-period span (RSI(2)) is showing a clear short-term oversold condition, suggesting a potential for a price rebound.
My mid-term channel trend indicator shows that the current price is below the target level for the ongoing correction, highlighting a potential buying opportunity.
The currently dominant cycle in Telesat’s stock price has a period of 18 days. A low was anticipated around February 20, 2025, but the actual low might have occurred a day later, on February 21, 2025.
Moreover, my short, mid-term, and long-term zero balance indicators are all signaling a bullish outlook.
Recommendation:
For February 24, 2025, I recommend placing a buy order for TSAT at a stop price of $20.11.
For detailed insights on managing trades post-entry, please refer to my trading philosophy for equities available on this website.
Happy Trading, Dave Register, CTA