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Sun Life, Power Financial top oversold stocks

The S&P/TSX Composite is barely changed over the past five trading sessions, but this apparent stability masks some extreme sector-related volatility that has created interesting oversold situations and potential trading opportunities.

The list of technically attractive domestic stocks that are poised for a bounce has expanded to include some of the country’s most prominent companies, particularly in the insurance sector. Sun Life Financial Inc. and Power Financial Corp. are now well into buy territory by Relative Strenth Index readings (below the buy signal of 30) after the stocks dropped 2.75 per cent and 2.4 per cent respectively in the past week.