The most oversold and overbought stocks on the TSX

Published February 22, 2021

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The S&P/TSX Composite eased lower by 0.41 per cent for the trading week ending with Friday’s close and stands 5.8 per cent higher for 2021.

The benchmark is in the higher end of technically neutral territory with a Relative Strength Index (RSI) of 61 that is closer to the overbought RSI sell signal of 70 than the oversold buy signal of 30.

There are a lot more technically attractive index member stocks – 13 - than we’ve seen lately in today’s list, thanks to the precious metals sector. Barrick Gold Corp. is the most oversold company in the benchmark, and Maple Leaf Foods Inc, Ritchie Brothers Auctioneers, Franco-Nevada Corp. and Agnico Eagle Mines Ltd. lined up behind.

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Bond yield-sensitive, dividend-paying sectors are also well represented on the oversold list this week. Examples of this trend include Emera Inc. and Fortis Inc.

There are 23 overbought, technically vulnerable S&P/TSX Composite companies trading with RSIs above the sell signal of 70. Inter Pipeline Ltd., is the most extended stock in the index, followed by TransAlta Corp., Lundin Mining Corp., Frontera Energy Corp., Cineplex Inc. and Equitable Group Inc.

There are no stocks in the benchmark making either new 52-week highs or lows, which is rare. This may indicate a higher degree of churn – rotation from one sector to another – than usual.

Last week's overbought and oversold stocks on the TSX

	OVERSOLD STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
ABX-T	BARRICK GOLD CORP	20.17	25.71	34.25	-11.34	-14.03	18.12	14.43
MFI-T	MAPLE LEAF FOODS INC	24.62	23.89	26.90	-0.95	-14.60	30.40	21.31
RBA-T	RITCHIE BROS AUCTIONEERS	24.98	64.98	73.96	-9.05	-23.92	32.10	27.49
FNV-T	FRANCO-NEVADA CORP	25.46	144.56	182.25	-8.71	-12.04	46.71	37.79
AEM-T	AGNICO EAGLE MINES LTD	26.61	76.91	94.85	-10.90	-15.76	31.37	18.03
EMA-T	EMERA INC	26.89	49.86	54.11	-3.62	-6.24	16.52	16.83
SSRM-T	SSR MINING INC	27.78	19.60	25.83	-9.48	-25.63	33.08	7.75
TXG-T	TOREX GOLD RESOURCES INC	27.84	15.28	19.53	-9.29	-21.27	13.93	5.98
OGC-T	OCEANAGOLD CORP	28.25	1.90	2.57	-14.80	-22.76	#N/A N/A	9.41
RCI-B-T	ROGERS COMMUNICATIONS INC-B	28.54	55.34	56.91	-3.01	-5.89	16.55	14.90
INE-T	INNERGEX RENEWABLE ENERGY	29.06	25.29	23.64	-4.06	-5.81	#N/A N/A	77.10
KL-T	KIRKLAND LAKE GOLD LTD	29.50	46.02	58.47	-7.20	-14.28	11.85	9.74
FTS-T	FORTIS INC	29.64	49.83	52.84	-2.31	-2.30	19.23	17.84

	OVERBOUGHT STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
IPL-T	INTER PIPELINE LTD	86.70	17.80	13.08	2.75	51.34	23.84	21.55
TA-T	TRANSALTA CORP	83.10	11.95	8.89	4.51	26.89	#N/A N/A	#N/A N/A
LUN-T	LUNDIN MINING CORP	80.71	15.05	8.76	14.36	34.60	47.54	15.21
FEC-T	FRONTERA ENERGY CORP	80.39	6.31	3.26	12.40	83.49	#N/A N/A	#N/A N/A
CGX-T	CINEPLEX INC	78.93	14.16	9.43	15.85	47.46	#N/A N/A	#N/A N/A
EQB-T	EQUITABLE GROUP INC	78.85	121.48	84.65	8.52	20.50	10.11	8.42
BHC-T	BAUSCH HEALTH COS INC	78.11	40.18	25.68	1.54	52.56	#N/A N/A	7.51
SNC-T	SNC-LAVALIN GROUP INC	76.44	27.10	22.58	1.80	25.22	#N/A N/A	31.08
FM-T	FIRST QUANTUM MINERALS LTD	73.43	29.37	15.11	15.40	27.26	#N/A N/A	21.83
TECK-B-T	TECK RESOURCES LTD-CLS B	73.34	29.16	18.26	15.90	25.58	131.88	11.34
ATA-T	ATS AUTOMATION TOOLING SYS	73.25	28.72	20.22	4.56	31.23	45.87	21.07
CPG-T	CRESCENT POINT ENERGY CORP	73.18	4.66	2.46	12.22	54.55	14.67	18.87
HBM-T	HUDBAY MINERALS INC	72.74	10.43	6.12	18.86	14.59	#N/A N/A	48.61
CCA-T	COGECO COMMUNICATIONS INC	72.66	115.55	101.91	-0.94	19.48	14.47	13.51
FRU-T	FREEHOLD ROYALTIES LTD	71.57	6.85	4.41	7.22	28.67	299.79	102.24
GOOS-T	CANADA GOOSE HOLDINGS INC	71.35	57.52	38.03	4.19	50.34	102.30	39.24
ERO-T	ERO COPPER CORP	71.34	24.74	18.91	16.01	17.43	69.43	11.48
IVN-T	IVANHOE MINES LTD-CL A	71.30	8.06	5.15	17.44	13.85	#N/A N/A	638.62
TOU-T	TOURMALINE OIL CORP	71.29	23.84	16.46	1.81	38.00	#N/A N/A	14.18
NA-T	NATIONAL BANK OF CANADA	71.18	75.65	67.03	3.39	4.87	12.32	11.23
LIF-T	LABRADOR IRON ORE ROYALTY CO	70.76	36.71	27.06	6.02	12.33	11.72	7.73
CJR-B-T	CORUS ENTERTAINMENT INC-B SH	70.5969	5.18	3.5928	1.750973	22.19626	6.889479483	#N/A N/A
VII-T	SEVEN GENERATIONS ENERGY - A	70.20	8.63	4.72	0.35	30.56	62.97	16.22

Source: Bloomberg

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