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The S&P/TSX Composite endured a difficult trading week to Friday’s close, falling 4.1 per cent, and the index is now only 4.5 per cent higher for 2023. The benchmark’s Relative Strength Index (RSI) of 38 leaves it in the lower end of technical neutral range, closer to the oversold buy signal of 30 than the overbought, RSI sell signal of 70.

There are 19 technically attractive index constituents with RSIs below 30 this week. The five most oversold stocks are Air Canada, MTY Food Group Inc., Park Lawn Corp, Laurentian Bank of Canada and Nuvei Corp.

There is only one stock trading in the overbought range with an RSI above the 70 sell signal – North West Co. Inc. Fairfax Financial is close to overbought with a 69 RSI.

Fairfax Financial Holdings Ltd. is also among two companies showing strong price momentum by hitting a new 52-week high. The other is SNC-Lavalin Group Inc.

There area 11 stocks establishing new 52-week lows and they are ranked by market capitalization in the table below. The biggest companies making new lows are Nuvei Corp., H&R REIT, Allied Properties REIT, Canfor Corp. and Canada Goose Holdings.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
ATRL-TSNC-LAVALIN GROUP INC5.7393.048,071,984,507

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
NVEI-TNUVEI CORP-SUBORDINATE VTG-13.63-40.932,810,775,960
HR-UN-TH&R REAL ESTATE INV-REIT UTS-6.07-15.312,719,900,913
CFP-TCANFOR CORP-3.82-17.322,116,371,308
GOOS-TCANADA GOOSE HOLDINGS INC-8.85-19.141,991,899,494
FR-TFIRST MAJESTIC SILVER CORP-12.56-38.761,979,984,157
PET-TPET VALU HOLDINGS LTD-6.11-37.361,734,430,940
BLDP-TBALLARD POWER SYSTEMS INC-14.51-24.541,460,104,714
PLC-TPARK LAWN CORP-6.18-23.62670,710,770
EDR-TENDEAVOUR SILVER CORP-8.74-23.74639,627,699

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
AC-TAIR CANADA13.6119.1221.38-5.95-1.3926.425.30
MTY-TMTY FOOD GROUP INC20.7558.4962.26-4.133.6915.7215.88
PLC-TPARK LAWN CORP22.0319.5725.34-6.18-23.6219.8914.33
LB-TLAURENTIAN BANK OF CANADA24.0030.7734.42-4.50-1.996.426.41
NVEI-TNUVEI CORP-SUBORDINATE VTG24.5120.2141.79-13.63-40.9332.898.16
GSY-TGOEASY LTD25.69109.68113.65-
PBH-TPREMIUM BRANDS HOLDINGS CORP26.4597.0498.58-7.0119.7625.9518.77
KXS-TKINAXIS INC27.36153.70169.74-7.081.18323.0874.83
CFP-TCANFOR CORP27.6017.6221.61-3.82-17.32#N/A N/A26.42
PET-TPET VALU HOLDINGS LTD28.1924.2734.22-6.11-37.3617.4014.04
CU-TCANADIAN UTILITIES LTD-A28.3730.2235.69-4.15-14.3811.4613.21
EIF-TEXCHANGE INCOME CORP28.8645.2651.72-2.10-11.1816.3011.54
CTC-A-TCANADIAN TIRE CORP-CLASS A29.06147.76166.43-4.857.5910.229.85
OTEX-TOPEN TEXT CORP29.2448.0250.14-8.9322.0028.677.52
AP-UN-TALLIED PROPERTIES REAL ESTAT29.2919.2224.09-7.95-21.02#N/A N/A#N/A N/A
ERO-TERO COPPER CORP29.4523.7524.34-6.5727.4128.0715.37
ATZ-TARITZIA INC-SUBORDINATE VOTI29.5221.9237.34-4.86-53.7115.6920.68
CIGI-TCOLLIERS INTL GR-SUBORD VOT29.56138.36138.53-7.9711.4161.8313.64
LNR-TLINAMAR CORP29.6664.8567.69-3.256.878.547.19
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
NWC-TNORTH WEST CO INC/THE77.2835.8635.151.883.0314.3712.62

Source: Bloomberg

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