A rare down week saw the S&P/TSX Composite drop 1.3 per cent to Friday’s close and the index now stands 16.3 per cent higher for the year.
The benchmark’s Relative Strength Index (RSI) of 44 leaves it in the neutral range but closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.
There are nine index members trading at technically attractive oversold levels below the buy signal of 30 this week. Hexo Corp is the most oversold stock in the benchmark and it’s joined by First Majestic Silver Corp., Canopy Growth Corp., Crescent Point Energy Corp., Silvercorp Metals Inc., Canadian Tire Corp. Ltd., Suncor Energy Inc., Imperial Oil Ltd. and Vermilion Energy Inc.
There are 16 overbought, technically vulnerable TSX companies trading with RSIs above the 70 sell signal. Summit Industrial Income REIT is the most overbought stock in the benchmark, followed by Thomson Reuters Corp., Dream Industrial REIT, Metro Inc., Boardwalk REIT and Firstservice Corp.
There are 12 index members showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization below. Thomson Reuters is the largest company making new highs and Waste Connections Inc., Rogers Communications, Loblaw Co.s Ltd, George Weston Ltd and Emera Inc. are next.
There are six S&P/TSX Composite constituents hitting new 52-week lows – Winpak Ltd., Fortuna Silver Mines Inc., Pan American Silver Corp., Equinox Gold Corp., Eldorado Gold Corp. and IAMGOLD Corp.
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