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The S&P/TSX Composite recovered 1.1 per cent for the trading week ending with Friday’s close and it now stands 3.1 per cent higher for 2023. The index’s Relative Strength Index (RSI) of 44 leaves it in technically neutral territory although closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.

There are 21 technically attractive benchmark stocks according to RSI this week, trading below the buy signal. The five most oversold companies are Canfor Corp., MTY Food Group Inc., Westshore Terminals Investment Corp., Air Canada and Interfor Corp.

There are no index constituents trading at overbought, extended levels with RSIs above 70 this week.

There are three stocks showing strong price momentum by hitting new 52-week highs – Canadian Natural Resources Ltd., ARC Resources Ltd. and MEG Energy Corp. - and they are ranked by market capitalization in the table below.

There are 14 companies making new 52-week lows. The largest of these are Brookfield Infrastructure Partners, West Fraser Timber Co. Ltd., Air Canada, Kinaxis Inc. and Brookfield Business Partners.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
CNQ-TCANADIAN NATURAL RESOURCES8.6125.6399,429,014,585
ARX-TARC RESOURCES LTD4.9924.4413,433,214,297
MEG-TMEG ENERGY CORP8.4343.987,744,524,414

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
BIP-UN-TBROOKFIELD INFRASTRUCTURE PA-7.28-12.3321,101,483,778
WFG-TWEST FRASER TIMBER CO LTD-1.56-5.977,590,208,599
AC-TAIR CANADA-6.18-8.416,366,409,564
KXS-TKINAXIS INC-7.21-9.173,930,586,173
BBU-UN-TBROOKFIELD BUSINESS PT-UNNIT-4.88-13.872,814,213,129
TIXT-TTELUS INTERNATIONAL CDA INC-7.12-64.352,607,813,864
LAC-TLITHIUM AMERICAS CORP-24.58#N-A N-A1,890,162,995
GOOS-TCANADA GOOSE HOLDINGS INC-7.98-26.741,804,679,357
CFP-TCANFOR CORP-6.45-32.661,719,344,949
SVI-TSTORAGEVAULT CANADA INC-8.61-31.121,556,291,035
MTY-TMTY FOOD GROUP INC-9.11-9.791,242,401,030
NWH-UN-TNORTHWEST HEALTHCARE PROPERT-10.92-48.211,104,271,233
TCL-A-TTRANSCONTINENTAL INC-CL A-6.20-24.89935,422,220
IFP-TINTERFOR CORP-7.94-18.24883,307,268

Oversold stocks on the TSX

OVERSOLD STOCKSRSI 14DPX LASTMOV_AVG_200DLAST_CLOSE_TRR_1WKLAST_CLOSE_TRR_YTDPE_RATIOBEST_PE_RATIO
CFP-TCANFOR CORP10.5155614.3521.15815-6.453716-32.66072#N-A N-A23.33333333
MTY-TMTY FOOD GROUP INC15.4121950.8962.05125-9.108769-9.78532811.6205758413.31501832
WTE-TWESTSHORE TERMINALS INVESTME17.4719523.727.8728-3.6585379.74776919.2008717114.47770312
AC-TAIR CANADA17.4843817.7621.3561-6.180665-8.40639524.54147144.872427984
IFP-TINTERFOR CORP19.4842117.1722.53065-7.935657-18.23809#N-A N-A29.10169492
BB-TBLACKBERRY LTD20.377154.736.0894-8.155347.256236#N-A N-A#N-A N-A
LB-TLAURENTIAN BANK OF CANADA21.586227.0334.13015-2.171553-12.571935.6409102025.657178736
KXS-TKINAXIS INC22.10023137.98169.6142-7.209146-9.169903286.696359967.28391693
CIGI-TCOLLIERS INTL GR-SUBORD VOT23.19707124.95139.0045-3.9363420.612594255.1942288112.27244297
TCL-A-TTRANSCONTINENTAL INC-CL A23.7140410.7413.92495-6.200873-24.887198.0660967615.623036649
ERO-TERO COPPER CORP24.1364219.9724.6002-10.728657.13519323.331025212.91260389
NWH-UN-TNORTHWEST HEALTHCARE PROPERT24.987144.577.8477-10.91618-48.210026.0459014510.22371365
DND-TDYE & DURHAM LTD26.6154912.0317.7373-11.54412-26.44773#N-A N-A#N-A N-A
AQN-TALGONQUIN POWER & UTILITIES27.053997.8310.40415-0.886076-7.35410938.572832869.64155599
IGM-TIGM FINANCIAL INC27.8652333.2739.7424-1.771479-8.03481610.29639529.006497022
BHC-TBAUSCH HEALTH COS INC27.888279.7510.72015-12.0829614.70588#N-A N-A2.004886045
INE-TINNERGEX RENEWABLE ENERGY27.940039.6213.7573-1.936799-37.9422216.81594733111.8604651
GOOS-TCANADA GOOSE HOLDINGS INC28.1158117.6424.0079-7.981221-26.7441917.8489390713.87883556
WFG-TWEST FRASER TIMBER CO LTD28.9876390.84102.9906-1.560468-5.97172675.7101412415.25204031
STLC-TSTELCO HOLDINGS INC29.9312133.8645.80675-8.683927-21.472756.6338748869.017310253
PLC-TPARK LAWN CORP29.9738718.1224.8501-3.514377-28.8481818.2066132413.50061611

Source:  Bloomberg

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 23/02/24 0:55pm EST.

SymbolName% changeLast
CFP-T
Canfor Corp
-0.49%16.29
MTY-T
Mty Food Group Inc
+1.02%49.48
WTE-T
Westshore Terminals Investment Corp
+0.7%26.04
AC-T
Air Canada
+0.83%18.17
IFP-T
Interfor Corp
-0.51%19.46
CNQ-T
Canadian Natural Resources Ltd.
-1.31%88.2
ARX-T
Arc Resources Ltd
-1.27%22.53
MEG-T
Meg Energy Corp
+0.19%26.88
BIP-UN-T
Brookfield Infra Partners LP Units
+0.34%41.62
BBU-UN-T
Brookfield Business Partners LP
-0.1%29.78
KXS-T
Kinaxis Inc
+3.52%153.95

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