Technical Analysis Transurban ASX:TCL (Bullish)

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Transurban (ASX:TCL) is one of the worlds largest toll-road operators. An Australian owned company, they build and operate roads in Sydney, Brisbane, Melbourne, Washington and Montreal.

Outlook is good for Transurban, as more and more people begin returning to work, and lockdowns across Australia, America and Canada ease, we will see an increased use of their toll-roads generating more income.

With 6 more major projects underway and scheduled to be complete over the next few years, the long-term outlook for Transurban is also promising.

(ASX:TCL)

  • Strong rebound from support zone, tested multiple times
  • “Three white soldiers” pattern to finish candlestick chart indicating a buy signal
  • MACD line trending above MACD (EMA) line also indicating buy signal

 

Chart Legend

Yellow – MACD

Blue – MACD (EMA)

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