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TransAlta oversold as TSX burns off froth

The S&P/TSX Composite is back in safer territory according to my favourite technical indicator, Relative Strength Index, after treading water in terms of performance for the second straight week.

The number of oversold, technically attractive stocks has increased by 250 per cent, but unfortunately that still means there’s only five of them. Aimia Inc. retakes the dubious honour of most oversold stock in the index, although it was only down 0.22 per cent for the week.