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The S&P/TSX Composite jumped 2.7 per cent for the trading week ending with Friday’s close and now sits 4.9 per cent lower for the year. The index’s Relative Strength Index (RSI) of 54 puts it in the neutral range, not far from the midpoint between the oversold buy signal of 30 and the overbought RSI sell signal of 70.

There are four benchmark stocks trading in technically attractive territory with RSIs below the 30 buy signal. Corus Entertainment Inc. is the most oversold company in the index, followed by Laurentian Bank of Canada, Rogers Communications Inc. and Open Text Corp.

There are two stocks trading in the technically vulnerable range above the 70 sell signal. Waste Connections inc. is the most overbought company in the benchmark, and CCL Industries Inc. is next.  Cameco Corp. and Intact Financial Corp are close to overbought with RSIs right at 70.

There are three benchmark stocks showing strong price momentum by hitting new 52-week highs. In order of market capitalization, these are Waste Connections Inc., Intact Financial Corp. and Saputo Inc.

There is only one stock,  Corus Entertainment Inc., making new 52-week lows.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
WCN-TWASTE CONNECTIONS INC3.2411.1848,980,183,537
IFC-TINTACT FINANCIAL CORP5.1523.7435,494,770,250
SAP-TSAPUTO INC5.1223.9314,433,451,720

Stocks dropping to 52-week lows

Return 1W %Return YTD %Market Cap
CJR-B-TCORUS ENTERTAINMENT INC-B SH-11.24-31.81594,345,747

Overbought and oversold stocks 

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CJR-B-TCORUS ENTERTAINMENT INC-B SH25.242.964.44-11.24-31.814.284.57
LB-TLAURENTIAN BANK OF CANADA25.2934.7640.78-2.57-
RCI-B-TROGERS COMMUNICATIONS INC-B27.4155.1663.30-1.70-7.2714.3014.34
OTEX-TOPEN TEXT CORP29.4640.7053.172.48-32.0018.979.65
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
WCN-TWASTE CONNECTIONS INC76.20190.70167.163.2411.1847.0736.15
CCL-B-TCCL INDUSTRIES INC - CL B74.8168.7061.736.912.6320.2718.35

Source: Bloomberg

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