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This week’s most overbought and oversold TSX stocks Add to ...

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The S&P/TSX Composite climbed 1.9 per cent for the five days ending with Thursday’s close and is now officially overbought and technically vulnerable to a pullback according to the Relative Strength Index (RSI).

The benchmark itself will be the focus chart this week, but I’ll first note the small number – three – of benchmark constituent stocks that are trading in oversold, technically attractive territory below the RSI buy signal of 30. Valeant Pharmaceutical International Inc. is the most oversold stock in the S&P/TSX Composite, surprising exactly no one. Performance Sports Group Ltd. is next with an RSI of 29 and last week’s focus, Empire Co. Ltd., is the third.

Follow Scott Barlow on Twitter @SBarlow_ROB.

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