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The S&P/TSX Composite eased higher by 0.3 per cent during the trading week ending with Friday’s close and is now 0.3 per cent higher for 2024. The benchmark’s Relative Strength Index (RSI) of 61 positions it in the upper reaches of technically neutral territory, far closer to the overbought sell sign of 70 than the oversold RSI buy signal at 30.

There are no index constituents trading with attractive RSIs below the 30 buy signal. There are 13 stocks with RSIs above 70, indicating temporary technical vulnerability. The five most overbought companies are Constellation Software Inc. (CSU-T), Aritzia Inc. (ATZ-T), Winpak Ltd. (WPK-T), Sienna Senior Living Inc. (SIA-T) and Allied Properties REIT (AP.UN-T).

There are eights stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The four biggest companies making new highs are Shopify Inc. (SHOP-T), Canadian National Railway Co. (CNR-T), Constellation Software and Cameco Corp. (CCO-T).

Nutrien Ltd. (NTR-T) is the only stock making a new 52-week low.



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