The S&P/TSX Composite rose a marginal 0.3 per cent for the trading week ending with Friday’s close and sits almost exactly 1.0 per cent lower for the year. Relative Strength Index (RSI) leaves the benchmark in neutral technical territory with a 52 level that is close to the halfway point between the RSI buy signal of 30 and the overbought sell signal of 70.
There are only two companies trading as official buys by RSI this week with readings below the 30 buy signal – Bausch Health Companies Inc. and Aurora Cannabis Inc. Hexo Corp is trading just out of buy range with an RSI of 31.
There are six index constituents with technically vulnerable RSIs above the overbought sell signal of 70. In order, these are Crescent Point Energy Corp., Cenovus Energy Inc., Gibson Energy Inc., H&R REIT, Enerplus Corp. and Intertape Polymer Group Inc.
There are 12 S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below. The five biggest companies making new highs are Cenovus Energy, ARC Resources Ltd., Whitecap Resources Inc., MEG Energy Corp. and Crescent Point Energy Corp.
There are two stocks establishing new 52-week lows and they are Bausch Health Companies Inc. and Canopy Growth Corp.
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