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The S&P/TSX Composite eased lower by a half a per cent for the trading week ending with Friday’s close and now stands 12.2 per cent higher for 2021.

The index’s Relative Strength Index (RSI) reading of 57 leaves it in the higher end of technically neutral territory, closer to the overbought sell signal of 70 than the oversold, technically attractive RSI buy signal of 30.

There are 11 oversold benchmark stocks trading below the RSI buy signal this week. Logistics software provider Enghouse Systems Ltd is the most oversold company in the index, and it’s followed by Northland Power Inc., Altus Group Ltd., Descartes Systems Group, Cascades Inc. and Boralex Inc.

The overbought list of stocks is still sizeable at 23 members.

Keyera Corp is the frothiest company in the index by RSI with Great-West Lifeco Inc., Russell Metals Inc. Home Capital Group Inc. and Equitable Group Inc. close behind.  Other widely-held names on the overbought list include Canadian Imperial Bank of Commerce, National Bank of Canada, Imperial Oil Ltd., Toronto-Dominion Bank, Royal Bank of Canada and Baytex Energy Corp.

There are 29 S&P/TSX Composite stocks showing strong price momentum by hitting new 52 week highs and they are ranked by market capitalization in the table below. The banks dominate the top of the list as the top five includes Royal Bank, TD Bank, Bank of Nova Scotia and Bank of Montreal. REITs are well represented by Choice Properties REIT, Canadian Apartment Properties REIT, Dream Industrial REIT and Chartwell Retirement Residences REIT.

There is one company, Enghouse Systems, hitting new 52-week lows.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
RY-TROYAL BANK OF CANADA1.3318.79173,375,471,834
TD-TTORONTO-DOMINION BANK1.8924.46159,800,011,716
BNS-TBANK OF NOVA SCOTIA0.4218.8296,879,755,633
BAM-A-TBROOKFIELD ASSET MANAGE-CL A3.9911.6792,968,160,465
BMO-TBANK OF MONTREAL2.3827.2178,173,896,852
CM-TCAN IMPERIAL BK OF COMMERCE1.4023.3259,422,909,182
GWO-TGREAT-WEST LIFECO INC1.4322.8234,032,172,560
NA-TNATIONAL BANK OF CANADA0.7528.8631,110,451,306
IMO-TIMPERIAL OIL LTD2.1562.3228,944,646,450
POW-TPOWER CORP OF CANADA2.2630.0925,308,836,676
L-TLOBLAW COMPANIES LTD2.1715.4424,679,180,239
WSP-TWSP GLOBAL INC8.4615.3415,611,316,075
CHP-UN-TCHOICE PROPERTIES REIT1.0512.7510,312,829,370
TFII-TTFI INTERNATIONAL INC0.8065.8910,141,225,335
CU-TCANADIAN UTILITIES LTD-A1.5217.149,533,818,471
ONEX-TONEX CORPORATION2.2019.097,771,696,013
IAG-TIA FINANCIAL CORP INC1.9131.777,618,202,048
KEY-TKEYERA CORP6.0638.826,554,420,644
SNC-TSNC-LAVALIN GROUP INC14.4448.155,698,491,020
CIX-TCI FINANCIAL CORP4.3139.504,356,260,608
CWB-TCANADIAN WESTERN BANK5.5326.423,120,786,945
EQB-TEQUITABLE GROUP INC4.8452.402,535,150,758
RUS-TRUSSEL METALS INC2.6646.562,027,716,605
HCG-THOME CAPITAL GROUP INC5.5022.091,819,521,180
SIA-TSIENNA SENIOR LIVING INC3.4111.921,039,106,407

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
ENGH-TENGHOUSE SYSTEMS LTD-7.99-13.132,898,029,811

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
ENGH-TENGHOUSE SYSTEMS LTD22.8452.2464.14-7.99-13.1328.2928.88
NPI-TNORTHLAND POWER INC24.2838.1942.86-2.24-15.2438.8324.58
AIF-TALTUS GROUP LTD25.5056.0053.70-5.9714.3653.1928.07
DSG-TDESCARTES SYSTEMS GRP/THE26.6470.5175.59-5.44-5.3694.0976.10
CAS-TCASCADES INC27.9913.5115.27-4.42-7.436.417.63
BLX-TBORALEX INC -A28.3234.2440.74-3.02-25.6251.9254.52
BLDP-TBALLARD POWER SYSTEMS INC28.7617.5227.55-5.03-40.40#N/A N/A#N/A N/A
ACB-TAURORA CANNABIS INC29.078.4811.46-23.31-21.79#N/A N/A#N/A N/A
BIP-UN-TBROOKFIELD INFRASTRUCTURE PA29.5963.5164.12-1.592.3949.97#N/A N/A
INE-TINNERGEX RENEWABLE ENERGY29.6618.7524.39-4.76-29.28#N/A N/A225.90
AQN-TALGONQUIN POWER & UTILITIES29.7018.3620.08-3.58-10.3433.0420.46
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
KEY-TKEYERA CORP85.1630.6623.936.0638.8225.2816.39
GWO-TGREAT-WEST LIFECO INC83.9136.6530.071.4322.8241.7611.30
RUS-TRUSSEL METALS INC83.1132.5922.532.6646.5626.5613.05
HCG-THOME CAPITAL GROUP INC83.0235.4628.125.5022.098.718.12
EQB-TEQUITABLE GROUP INC82.47149.76103.764.8452.409.699.66
CM-TCAN IMPERIAL BK OF COMMERCE79.28132.57111.241.4023.3213.5111.00
CWB-TCANADIAN WESTERN BANK79.2835.8329.285.5326.4212.1311.49
FRU-TFREEHOLD ROYALTIES LTD78.649.325.577.5777.18#N/A N/A27.33
POW-TPOWER CORP OF CANADA78.0337.3929.712.2630.0910.5010.16
NA-TNATIONAL BANK OF CANADA77.7892.2574.800.7528.8614.0012.53
SNC-TSNC-LAVALIN GROUP INC77.6632.5324.0814.4448.15#N/A N/A18.46
IMO-TIMPERIAL OIL LTD76.1239.4124.972.1562.32#N/A N/A11.51
TD-TTORONTO-DOMINION BANK74.7387.8371.541.8924.4613.2112.84
CIX-TCI FINANCIAL CORP74.6021.3517.834.3139.508.177.10
SJR-B-TSHAW COMMUNICATIONS INC-B73.6935.9125.790.6464.3924.69#N/A N/A
WSP-TWSP GLOBAL INC72.44133.45106.858.4615.3438.0930.06
RY-TROYAL BANK OF CANADA72.24121.67105.451.3318.7915.0412.33
TFII-TTFI INTERNATIONAL INC71.85108.7875.200.8065.8929.5321.78
BMO-TBANK OF MONTREAL71.47329120.7795.296152.38458927.2051914.6917579411.44413911
FNV-TFRANCO-NEVADA CORP70.57183.60172.630.8513.7453.0743.42
BTE-TBAYTEX ENERGY CORP70.251.780.89-1.14150.72#N/A N/A9.78
OGC-TOCEANAGOLD CORP70.172.682.293.166.10#N/A N/A15.96
IGM-TIGM FINANCIAL INC70.0744.9935.330.4032.2213.6111.64

Source: Bloomberg

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