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The S&P/TSX Composite rose another 0.9 per cent for the trading week ending with Friday’s close to stand 16.2 per cent higher for 2021.

In technical terms, the benchmark remains overbought and vulnerable to a temporary pullback according to Relative Strength Index (RSI). The index’s 70 RSI reading puts it right at the overbought sell signal.

There are no benchmark stocks trading at attractive oversold technical levels below the RSI buy signal of 30. Winpak Ltd. and Canfor Corp. are closest with RSIs of 32 and 35 respectively.

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There are 24 S&P/TSX composite stocks trading at overbought levels this week, led by Keyera Corp and Canadian Imperial Bank of Commerce. Inter Pipeline Ltd., Telus Corp., Bank of Montreal and Canadian Natural Resources Ltd. are also among the top ten most technically extended stocks in the index.

There are 23 benchmark stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. Royal Bank of Canada is the biggest company hitting new highs, followed by BCE Inc., Canadian Natural Resources, Suncor Energy Inc. and Nutrien Ltd.

There are no index stocks hitting new 52-week lows.

Stocks reaching 52-week highs

Return 1W %Return YTD %Market Cap
RY-TROYAL BANK OF CANADA0.4723.03179,467,092,402
BCE-TBCE INC1.6813.9455,408,721,331
CNQ-TCANADIAN NATURAL RESOURCES8.5350.3653,459,688,768
SU-TSUNCOR ENERGY INC11.1246.3846,134,056,464
NTR-TNUTRIEN LTD3.7828.3945,023,632,129
T-TTELUS CORP2.2711.8937,925,899,465
MG-TMAGNA INTERNATIONAL INC3.1040.3137,384,645,846
POW-TPOWER CORP OF CANADA1.7839.0426,913,013,045
IFC-TINTACT FINANCIAL CORP4.3314.1724,500,436,536
CVE-TCENOVUS ENERGY INC16.0047.0822,675,593,737
H-THYDRO ONE LTD0.658.9418,484,910,955
CCO-TCAMECO CORP7.1351.5010,449,795,371
IPL-TINTER PIPELINE LTD14.8873.178,623,013,226
KEY-TKEYERA CORP9.8549.907,117,574,067
REI-UN-TRIOCAN REAL ESTATE INVST TR1.1830.956,901,405,721
PBH-TPREMIUM BRANDS HOLDINGS CORP0.9123.195,368,864,391
HR-UN-TH&R REAL ESTATE INV-REIT UTS2.0124.784,698,817,300
CPG-TCRESCENT POINT ENERGY CORP17.4195.373,325,513,046
OR-TOSISKO GOLD ROYALTIES LTD2.9010.392,993,051,458
LIF-TLABRADOR IRON ORE ROYALTY CO4.6946.422,952,960,000
ATA-TATS AUTOMATION TOOLING SYS3.5437.492,863,597,903
SPB-TSUPERIOR PLUS CORP3.0629.782,728,646,149
MEG-TMEG ENERGY CORP10.6099.332,653,303,695

Overbought stocks on the TSX

RSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
KEY-TKEYERA CORP85.7833.2024.479.8549.9027.3717.74
CM-TCAN IMPERIAL BK OF COMMERCE85.54144.81114.321.9235.1011.5610.74
IPL-TINTER PIPELINE LTD84.1120.0815.0414.8873.1723.4123.19
POW-TPOWER CORP OF CANADA82.0039.7430.671.7839.0411.1610.80
T-TTELUS CORP77.7527.9725.362.2711.8927.2624.51
MEG-TMEG ENERGY CORP75.898.694.9710.6099.3322.3612.02
BMO-TBANK OF MONTREAL74.90128.1298.740.9234.9512.8011.34
SES-TSECURE ENERGY SERVICES INC74.125.062.7617.97103.26#N/A N/A#N/A N/A
CNQ-TCANADIAN NATURAL RESOURCES74.0345.0931.848.5350.3633.2810.89
CVE-TCENOVUS ENERGY INC73.8511.257.7216.0047.08#N/A N/A14.00
CIX-TCI FINANCIAL CORP73.5122.4618.050.3143.988.607.46
GEI-TGIBSON ENERGY INC73.4625.2921.895.0323.9133.6421.67
MTY-TMTY FOOD GROUP INC73.2461.6948.931.867.9232.6621.95
CGX-TCINEPLEX INC73.1916.3810.394.6672.17#N/A N/A#N/A N/A
RY-TROYAL BANK OF CANADA73.18125.87107.480.4723.0312.7811.76
SU-TSUNCOR ENERGY INC72.4530.6322.7111.1246.3873.0711.99
IFC-TINTACT FINANCIAL CORP72.38171.08149.214.3314.1718.8417.37
BCE-TBCE INC72.1661.2056.561.6813.9420.3419.02
SIA-TSIENNA SENIOR LIVING INC72.1316.1013.380.3717.84#N/A N/A#N/A N/A
BBD-B-TBOMBARDIER INC-B71.751.040.599.28120.83#N/A N/A#N/A N/A
HR-UN-TH&R REAL ESTATE INV-REIT UTS71.5516.3813.012.0124.78#N/A N/A#N/A N/A
BTE-TBAYTEX ENERGY CORP70.542.080.9713.04201.45#N/A N/A11.43
CPG-TCRESCENT POINT ENERGY CORP70.405.743.5017.4195.379.157.18
ALA-TALTAGAS LTD70.0824.5219.482.3433.7018.2815.75

Source: Bloomberg

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