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The most oversold stocks on the TSX Add to ...

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The S&P/TSX Composite is NOT officially oversold according to Relative Strength Index , which surprised me. The RSI reading for the benchmark over the past 14 days (the most widely-used time frame) puts it just above the oversold, buy signal of 30 at 33.5.

The list of oversold TSX stocks is predictably enormous at 39 members. Like last week, however, there are no oversold stocks by RSI still trading above their 200-day moving averages. As we’ve discussed previously, technical measures like RSI are far less useful for picking lucrative entry points when stocks are in a down trend, trading below the 200 day moving average.

Follow Scott Barlow on Twitter @SBarlow_ROB.

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