You can tell it’s been a good week in Canadian equityland when the number of oversold stocks drops to two. Some of the overbought stocks from last week have merely become more overbought, and there are some new entrants in the “most technically extended” list.
First, a warning. The Relative Strength Index readings in the tables are for the last 14 days of trading. This is the most widely used version of RSI – 30 day and nine day are the others – but investors need to be aware that with such a small data series, the numbers can change extraordinarily quickly. A lot of the RSI numbers will be completely outdated by Tuesday, so this information may have a very limited shelf life.