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The S&P/TSX Composite had a terrific trading week to Friday’s close, rising 2.6 per cent, and is now 8.7 per cent higher for 2021. 

The benchmark is, however, approaching overbought territory according to Relative Strength Index (RSI). The index’s RSI of 65 leaves it far closer to the sell signal of 70 than the technically attractive range below the oversold RSI buy signal of 30.

There are two oversold benchmark companies this week – Kinaxis Inc. and Innergex Renewable Energy Inc. – and no other stock is anywhere close.

The list of overbought, technically vulnerable S&P/TSX Composite stocks is huge at 47 members. National Bank of Canada and Canadian Imperial Bank of Commerce are the frothiest stocks in the index and Bank of Nova Scotia is also among the top ten. Energy names are also well represented near the top of the most overbought list with Secure Energy Services Inc., Imperial Oil Ltd, Inter Pipeline and Vermilion Energy Inc.

There are, once again, no index constituents making either new 52-week highs or 52-week lows. The latter is not surprising, but we must be close to having a long list of new 52-week highs if the rally continues.

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
KXS-TKINAXIS INC29.15141.00186.412.67-24.35230.35223.07
INE-TINNERGEX RENEWABLE ENERGY29.6821.9523.992.62-18.34#N/A N/A124.01
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
NA-TNATIONAL BANK OF CANADA92.2787.0269.134.2721.5513.2011.65
CM-TCAN IMPERIAL BK OF COMMERCE83.55123.63103.941.6114.5112.6010.53
SES-TSECURE ENERGY SERVICES INC82.794.412.0736.2278.86#N/A N/A#N/A N/A
PBH-TPREMIUM BRANDS HOLDINGS CORP82.52116.6297.798.8515.3747.8526.17
EFN-TELEMENT FLEET MANAGEMENT COR81.1314.2211.717.005.0819.2115.59
IMO-TIMPERIAL OIL LTD78.3631.5822.687.4734.49#N/A N/A12.82
IPL-TINTER PIPELINE LTD78.2218.4613.551.8256.0024.7322.03
SCL-TSHAWCOR LTD78.047.353.2935.13106.53#N/A N/A#N/A N/A
VET-TVERMILION ENERGY INC77.8610.555.8015.3490.67#N/A N/A#N/A N/A
BNS-TBANK OF NOVA SCOTIA77.3778.7561.852.4316.8114.6111.24
ITP-TINTERTAPE POLYMER GROUP INC77.1828.9018.5017.3119.3018.8914.18
POW-TPOWER CORP OF CANADA76.9732.5627.405.0912.3811.469.80
LB-TLAURENTIAN BANK OF CANADA76.9639.6230.21-0.2528.2712.7911.38
CHR-TCHORUS AVIATION INC76.875.273.2310.0439.1918.0212.98
SU-TSUNCOR ENERGY INC76.8629.1321.585.3938.43#N/A N/A17.88
AC-TAIR CANADA75.9230.7819.7510.4830.52#N/A N/A#N/A N/A
CJR-B-TCORUS ENTERTAINMENT INC-B SH75.826.003.797.4940.897.98#N/A N/A
CPG-TCRESCENT POINT ENERGY CORP75.575.582.713.6892.0017.7313.88
TOU-TTOURMALINE OIL CORP75.4825.7117.2014.9951.9841.2711.04
RY-TROYAL BANK OF CANADA75.38115.64100.103.4512.4714.2911.92
TD-TTORONTO-DOMINION BANK75.3037681.6166.65432.69148514.7399412.2782513512.42728795
AIF-TALTUS GROUP LTD75.2660.4549.483.6525.2766.5230.09
CNQ-TCANADIAN NATURAL RESOURCES75.0540.2327.612.3431.42#N/A N/A15.53
STN-TSTANTEC INC74.8452.2142.601.6127.0327.4622.38
CVE-TCENOVUS ENERGY INC74.6910.556.751.8036.61#N/A N/A31.59
BTE-TBAYTEX ENERGY CORP74.641.460.72-1.33114.49#N/A N/A112.31
CUF-UN-TCOMINAR REAL ESTATE INV-TR U74.049.608.061.6018.0910.41#N/A N/A
SJR-B-TSHAW COMMUNICATIONS INC-B72.9631.7623.301.058.3723.5723.32
PSK-TPRAIRIESKY ROYALTY LTD72.9314.309.874.9042.02100.1045.98
IIP-UN-TINTERRENT REAL ESTATE INVEST72.6614.5613.565.798.4613.02#N/A N/A
MTL-TMULLEN GROUP LTD71.8212.529.5514.0115.1126.7219.53
ERF-TENERPLUS CORP71.666.933.844.4278.86#N/A N/A8.58
HR-UN-TH&R REAL ESTATE INV-REIT UTS71.4715.1311.594.5613.26#N/A N/A#N/A N/A
MSI-TMORNEAU SHEPELL INC71.4032.4530.311.489.0261.1839.33
ALA-TALTAGAS LTD71.3621.1217.716.7713.8220.6114.11
SPB-TSUPERIOR PLUS CORP71.3314.1912.094.0417.27105.2225.43
PSI-TPASON SYSTEMS INC71.3310.207.204.1231.60467.50115.91
BMO-TBANK OF MONTREAL70.93109.3386.351.9415.1513.3010.89
CSH-UN-TCHARTWELL RETIREMENT RESIDEN70.8711.9010.454.546.00#N/A N/A#N/A N/A
ACO-X-TATCO LTD -CLASS I70.7340.4538.867.8512.4321.1113.58
AP-UN-TALLIED PROPERTIES REAL ESTAT70.6542.0738.603.2010.9523.90#N/A N/A
IGM-TIGM FINANCIAL INC70.5338.4833.606.9912.2012.2810.15
LIF-TLABRADOR IRON ORE ROYALTY CO70.5340.0728.445.5323.5811.308.40
EQB-TEQUITABLE GROUP INC70.41140.2590.393.5839.3810.849.35
CAR-UN-TCAN APARTMENT PROP REAL ESTA70.3154.8048.524.699.4927.80#N/A N/A
MFC-TMANULIFE FINANCIAL CORP70.3126.9220.931.6121.549.228.46
D-UN-TDREAM OFFICE REAL ESTATE INV70.2521.5719.904.419.658.28#N/A N/A

Source: Bloomberg

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