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The S&P/TSX Composite dropped 0.76 per cent for the trading week ending with Friday’s close and it now stands 23.4 per cent higher for the year. In terms of technical analysis, the benchmark is in the higher end of the neutral range with a Relative Strength Index (RSI) of 58 that is closer to the overbought sell signal of 70 than the attractive, oversold buy signal of 30.

There are seven TSX stocks trading at oversold levels below the RSI buy signal of 30. Saputo Inc. is the most oversold company in the index with Inter Pipeline Ltd., Restaurant Brands International, Great-West Lifeco Inc., Algonquin Power & Utilities, Cascades Inc. and Hexo Corp following behind.

We have 13 companies trading with technically vulnerable RSIs above the 70 sell signal. The five most overbought stocks are Granite REIT, Pretium Resources Inc., IGM Financial Inc., Suncor Energy Inc. and Tricon Residential Inc.

There are only five S&P/TSX Composite members showing strong price momentum by hitting new 52-week highs, a big drop from last week’s 35. In order of market capitalization, the five are Suncor Energy Inc., Waste Connections Inc., Granite REIT, Tricon Residential Inc.  and Lithium Americas Corp.

There are also five stocks making new 52-week lows – Saputo Inc., Canopy Growth Corp., Yamana Gold Inc., Cronos Group Inc. and Real Matters Inc.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
SU-TSUNCOR ENERGY INC15.2256.1247,820,536,632
WCN-TWASTE CONNECTIONS INC1.4929.7243,562,702,113
GRT-UN-TGRANITE REAL ESTATE INVESTME1.7632.736,498,166,002
TCN-TTRICON RESIDENTIAL INC2.6259.894,791,016,813
LAC-TLITHIUM AMERICAS CORP15.77124.664,209,209,440

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
SAP-TSAPUTO INC-4.77-15.8312,281,646,495
WEED-TCANOPY GROWTH CORP-5.32-50.036,450,964,354
YRI-TYAMANA GOLD INC-8.82-31.804,748,364,010
CRON-TCRONOS GROUP INC-7.76-27.382,497,288,197
REAL-TREAL MATTERS INC-7.46-52.89713,990,520

Overbought and oversold stocks on the TSX

RSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
Oversold
SAP-TSAPUTO INC21.2829.6636.37-4.77-15.8322.7418.12
IPL-TINTER PIPELINE LTD21.6218.8418.56-5.6161.5919.2818.75
QSR-TRESTAURANT BRANDS INTERN24.6070.6480.17-8.51-7.7119.3719.54
GWO-TGREAT-WEST LIFECO INC25.9836.4835.74-1.5124.4410.1210.75
AQN-TALGONQUIN POWER & UTILITIES28.0717.8719.68-4.65-12.0225.7119.31
CAS-TCASCADES INC28.1114.5315.39-5.780.3910.3410.29
HEXO-THEXO CORP28.871.786.42-14.69-61.46N/AN/A
Overbought
GRT-UN-TGRANITE REAL ESTATE INVESTME77.2999.1483.231.7632.7358.49N/A
PVG-TPRETIUM RESOURCES INC77.1614.7813.007.012.6029.7116.64
IGM-TIGM FINANCIAL INC75.7849.1142.482.0848.1513.9311.91
SU-TSUNCOR ENERGY INC75.1932.8026.4215.2256.1216.817.60
TCN-TTRICON RESIDENTIAL INC74.2017.6014.152.6259.89N/A21.89
CP-TCANADIAN PACIFIC RAILWAY LTD73.7096.3891.751.739.1820.0023.18
CUF-UN-TCOMINAR REAL ESTATE INV-TR U71.7111.5510.0511.4946.3811.53N/A
STN-TSTANTEC INC71.4468.0655.970.1867.1633.1126.14
BTE-TBAYTEX ENERGY CORP70.784.202.000.00501.4511.448.75
CNR-TCANADIAN NATL RAILWAY CO70.53164.44140.01-1.8019.0629.0925.12
SMU-UN-TSUMMIT INDUSTRIAL INCOME REI70.4823.1717.450.2077.9535.08N/A
SLF-TSUN LIFE FINANCIAL INC70.2870.5964.59-0.0127.8713.0911.30
TD-TTORONTO-DOMINION BANK70.2190.3383.240.7729.8510.5711.71

Source: Bloomberg

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