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The S&P/TSX Composite ascended another 0.9 per cent for the trading week ending with Friday’s close and stands 13.2 per cent higher year-to-date.

According to Relative Strength Index (RSI) the benchmark is hovering in the upper reaches of technically neutral territory with a 61 level that is much closer to the overbought sell signal of 70 than the attractive, oversold RSI buy signal of 30.

There are three oversold benchmark companies by RSI this week. Canadian National Railway Co. is the most oversold stock in the index followed by Stella-Jones Inc. and Parex Resources Inc. Cogeco Communications Inc. is close to oversold with an RSI of 31 that is just above the 30 buy signal.

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There are 19 overbought, technically vulnerable names trading above the 70 sell signal. Financials dominate the top of the list with Canadian Imperial Bank of Commerce the most overextended stock and Power Corp of Canada , Great-West LifeCo Inc., Canadian Western Bank, National Bank of Canada, Royal Bank and CI Financial Corp all in the top ten.

Other prominent names in the overbought table include Russell Metals Inc., Loblaw Companies Ltd., Chartwell REIT and TFI International Inc.

There are 12 companies showing strong price momentum by making new 52-week highs and they are ranked by market capitalization below. Banks again feature heavily – the largest five stocks are Royal Bank, Bank of Montreal, non-financial Canadian Pacific Railway Ltd., then CIBC and Great-West LifeCo.

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
RY-TROYAL BANK OF CANADA1.3220.36175,897,037,858
BMO-TBANK OF MONTREAL2.7130.6580,206,236,943
CP-TCANADIAN PACIFIC RAILWAY LTD0.7810.9565,174,321,355
CM-TCAN IMPERIAL BK OF COMMERCE2.1325.9560,655,284,750
GWO-TGREAT-WEST LIFECO INC1.4424.5934,635,579,875
NA-TNATIONAL BANK OF CANADA2.3031.8331,599,609,345
POW-TPOWER CORP OF CANADA3.2034.2526,202,089,735
CIX-TCI FINANCIAL CORP1.4241.494,509,219,196
CWB-TCANADIAN WESTERN BANK2.4829.563,202,660,786
LWRK-TLIFEWORKS INC7.7710.432,337,985,597
RUS-TRUSSEL METALS INC2.1049.642,086,274,319
SIA-TSIENNA SENIOR LIVING INC3.8116.191,077,318,707

Overbought and oversold stocks

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CNR-TCANADIAN NATL RAILWAY CO25.86125.80139.72-3.28-9.7222.8420.41
SJ-TSTELLA-JONES INC27.7647.3247.01-4.502.6013.3311.99
PXT-TPAREX RESOURCES INC29.7319.3918.92-4.2510.6713.88#N/A N/A
CCA-TCOGECO COMMUNICATIONS INC31.00113.70107.67-4.9117.5013.8612.79
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CM-TCAN IMPERIAL BK OF COMMERCE85.46135.35112.272.1325.9513.8010.95
RUS-TRUSSEL METALS INC85.0433.4922.902.1049.6427.2913.41
POW-TPOWER CORP OF CANADA82.8138.7230.063.2034.2510.8710.52
GWO-TGREAT-WEST LIFECO INC82.1537.3130.391.4424.5942.5111.51
CWB-TCANADIAN WESTERN BANK77.8936.7729.612.4829.5612.4411.68
BMO-TBANK OF MONTREAL77.26123.9296.502.7130.6515.0711.36
SIA-TSIENNA SENIOR LIVING INC77.0416.0713.133.8116.19#N/A N/A#N/A N/A
NA-TNATIONAL BANK OF CANADA76.9193.6775.542.3031.8314.2112.33
CIX-TCI FINANCIAL CORP75.6922.1117.911.4241.498.467.35
RY-TROYAL BANK OF CANADA75.63123.47106.201.3220.3615.2612.22
L-TLOBLAW COMPANIES LTD75.1074.1766.922.8118.6921.0614.78
WDO-TWESDOME GOLD MINES LTD74.9111.6510.8524.339.7034.9917.52
MTY-TMTY FOOD GROUP INC73.3659.9247.533.473.4031.7221.35
HCG-THOME CAPITAL GROUP INC72.4335.9428.44-0.8821.018.838.23
KEY-TKEYERA CORP71.9230.1524.16-1.0837.3324.8616.11
SNC-TSNC-LAVALIN GROUP INC71.3832.6424.341.4650.32#N/A N/A19.02
TD-TTORONTO-DOMINION BANK70.8688.1172.250.4325.0013.2612.46
CSH-UN-TCHARTWELL RETIREMENT RESIDEN70.5713.1511.180.3819.64#N/A N/A#N/A N/A
TFII-TTFI INTERNATIONAL INC70.21111.2176.522.6270.2430.2622.31

Source: Bloomberg

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