The S&P/TSX Composite rose another 0.6 per cent for the trading week ending with Friday’s close and stands 16.9 per cent higher for the year.
Relative Strength Index (RSI) indicates that the market as a whole is overbought and vulnerable to a temporary correction. The benchmark’s RSI of 71 is just above the RSI sell signal of 70.
There is one index member stock trading in official oversold territory below the RSI buy signal of 30 – Jamieson Wellness Inc. Saputo Inc. is close to oversold with an RSI of 31.
There are 28 TSX stocks trading at overbought levels above the 70 sell signal. Keyera Corp. is the most overbought company in the index and it’s followed by Gibson Energy Inc., ATS Automation Tooling Systems, Cenovus Energy Inc., Crombie REIT and Canadian Imperial Bank of Commerce. Full list is below.
There are 15 index stocks showing strong price momentum by establishing new 52-week highs and they are sorted by market capitalization in the table. BCE Inc. is the biggest company making new highs with Nutrien Ltd., Fortis Inc., Pembina Pipeline Corp., WSP Global Inc. and Tourmaline Oil Corp. right behind.
There is one company, Enghouse Systems Ltd., making new 52-week lows.
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