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The S&P/TSX Composite jumped 1.8 per cent for the week ending with Friday’s close and stands 5.9 per cent higher for the year.

Relative Strength Index (RSI) indicates that the benchmark is in the higher end of technically neutral territory with a 55 level closer to the overbought sell signal of 70 than the oversold RSI buy signal of 30.

Utilities stocks dominate the 10-company list of oversold, technically attractive benchmark members according to RSI this week. Innergex Renewable Energy Inc. is the most oversold stock in the index and it’s followed by Kinaxis Inc., Algonquin Power and Utilities, Cargojet Inc., Transalta Renewables Inc. and Brookfield Renewable Partners LP.

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The list of technically vulnerable index stocks expanded to 31 this week after the market’s overall strong return.

Banks dominate the overbought category with National Bank and Canadian Imperial Bank of Commerce. the most extended stocks in the S&P/TSX Composite and Laurentian Bank of Canada not far behind in fourth place (Spinmaster Corp. is in third place).

Other prominent names trading above the RSI sell signal of 70 this week include Baytex Energy Corp., Whitecap Resources Inc., Cenovus Energy, First Capital REIT, Bank of Nova Scotia and Suncor Energy Inc.

There are no benchmark stocks making either new 52-week highs or 52-week lows.

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
INE-TINNERGEX RENEWABLE ENERGY16.9021.4123.89-9.55-20.42#N/A N/A120.96
KXS-TKINAXIS INC22.25135.63187.28-22.74-26.32218.60155.92
AQN-TALGONQUIN POWER & UTILITIES24.7519.3919.73-2.44-8.2128.9020.89
CJT-TCARGOJET INC24.83170.26189.85-12.69-22.35#N/A N/A36.34
RNW-TTRANSALTA RENEWABLES INC25.1118.9017.41-7.53-13.6337.2224.23
BEP-UN-TBROOKFIELD RENEWABLE PARTNER26.8848.4746.15-8.93-9.94#N/A N/A#N/A N/A
BLX-TBORALEX INC -A27.8139.4338.51-10.12-15.4258.9460.02
CPX-TCAPITAL POWER CORP29.4934.2731.29-1.66-3.5429.2320.05
TA-TTRANSALTA CORP29.5810.689.05-7.287.05#N/A N/A#N/A N/A
OGC-TOCEANAGOLD CORP29.761.802.53-2.17-26.83#N/A N/A10.15
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
NA-TNATIONAL BANK OF CANADA88.6484.2868.334.1816.5712.7911.29
CM-TCAN IMPERIAL BK OF COMMERCE84.61123.23102.944.4212.6912.5610.50
TOY-TSPIN MASTER CORP-SUB VTG SHR84.3941.8127.5243.7239.9561.5231.54
LB-TLAURENTIAN BANK OF CANADA84.3940.7629.9415.0928.5913.1611.70
FEC-TFRONTERA ENERGY CORP81.106.783.3911.39119.31#N/A N/A#N/A N/A
IPL-TINTER PIPELINE LTD80.9217.9513.401.0153.2024.0421.01
BTE-TBAYTEX ENERGY CORP80.251.480.7021.95117.39#N/A N/A113.85
WCP-TWHITECAP RESOURCES INC78.876.693.3718.8039.87#N/A N/A27.64
CVE-TCENOVUS ENERGY INC78.8210.376.6410.4034.19#N/A N/A1152.22
FRU-TFREEHOLD ROYALTIES LTD78.297.764.5812.3249.71#N/A N/A77.60
AIF-TALTUS GROUP LTD76.9359.7048.976.4020.8665.6929.86
CPG-TCRESCENT POINT ENERGY CORP76.935.382.6217.7785.1917.0915.78
EFX-TENERFLEX LTD76.659.346.138.3544.369.2131.99
FCR-UN-TFIRST CAPITAL REAL ESTATE IN76.6116.7014.155.9221.9819.67#N/A N/A
MEG-TMEG ENERGY CORP76.547.693.9218.5775.06#N/A N/A71.20
CNQ-TCANADIAN NATURAL RESOURCES75.9639.2927.2613.1728.41#N/A N/A19.80
VET-TVERMILION ENERGY INC73.519.315.7317.8265.32#N/A N/A#N/A N/A
CAE-TCAE INC73.3539.3725.8214.909.7293.2745.20
SJR-B-TSHAW COMMUNICATIONS INC-B73.2723.8423.277.227.2517.6917.47
CUF-UN-TCOMINAR REAL ESTATE INV-TR U73.139.408.016.1216.2310.19#N/A N/A
STN-TSTANTEC INC73.0600451.6842.32053.07569425.0242327.1797155122.15173596
ERF-TENERPLUS CORP72.986.693.7710.2371.29#N/A N/A9.36
ARE-TAECON GROUP INC72.8319.8015.474.5117.5443.4419.80
BHC-TBAUSCH HEALTH COS INC72.8042.3226.524.3458.24245.367.62
BNS-TBANK OF NOVA SCOTIA72.6078.1961.194.0714.0414.5511.17
SU-TSUNCOR ENERGY INC72.5327.8421.4810.9731.35#N/A N/A30.23
CWB-TCANADIAN WESTERN BANK72.2335.2026.922.2719.5311.9111.34
CHR-TCHORUS AVIATION INC72.204.923.1811.4326.4916.8212.12
MSI-TMORNEAU SHEPELL INC70.6433.2630.291.507.4373.1553.22
MFC-TMANULIFE FINANCIAL CORP70.5327.2620.665.6019.629.348.56
ZZZ-TSLEEP COUNTRY CANADA HOLDING70.1931.4722.0213.4416.2818.2815.48
IMO-TIMPERIAL OIL LTD70.1630.6622.438.4125.15#N/A N/A15.32

Source: Bloomberg

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