The S&P/TSX Composite climbed 0.5 per cent for the weekend ending with Friday’s close and sits 0.2 per cent lower for the year. Relative Strength Index (RSI) leaves the benchmark squarely in the technical mid-range with a 50 reading that is exactly halfway between the oversold buy signal of 30 and the overbought RSI sell signal of 70.
There are 12 oversold, attractive index members trading below the 30 buy signal this week. The top five most oversold companies are Sleep Country Canada Holdings, Quebecor Inc. , CCL Industries Inc., Primo Water Corp. and Altus Group Ltd.
There are 10 stocks trading with overbought, technically vulnerable RSIs above the 70 sell signal. Artis REIT, Winpak Ltd., Labrador Iron Ore Royalty Co., Telus Corp. and RioCan REIT are the most overbought stocks in the index.
There are 14 S&P/TSX constituents showing strong price momentum by hitting new 52-week highs are they are sorted by market capitalization in the table below. The five largest companies making new highs are Canadian Natural Resources, Nutrien Ltd., Telus Corp., Teck Resources Ltd. and Arc Resources Ltd.
There are two benchmark stocks making new 52-week lows – CCL Industries Inc. and Parkland Corp.
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Scott Barlow