The S&P/TSX Composite fell 1.0 per cent for the trading week ending with Friday’s close, leaving it 26.6 per cent higher for 2021 so far.
Relative Strength Index (RSI) leaves the benchmark in the upper end of the technically neutral range with a reading of 60 that is far closer to the overbought sell signal of 70 than the oversold RSI buy signal of 30.
There are eight technically attractive benchmark constituents with RSIs below the buy signal. Boyd Group Services Inc. is the most oversold company in the index and it’s followed by Cogeco Communications Inc., TC Energy Corp., Lightspeed Commerce Inc., Quebecor Inc., Aecon Group Inc., and Mullen Group Ltd.
Kinaxis Inc. is the most overbought of the 10 stocks trading in overbought territory. Pretium Resources Inc., SSR Mining Inc., Stantec Inc. and Thomson Reuters Corp. join Kinaxis in the top five.
There are nine companies showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization below. Shopify Inc. (A), Thomson Reuters, Constellation Software Inc., Colliers International Group and Stantec Inc. are the five biggest companies making new highs.
Quebecor Inc., Parkland Corp., Boyd Group Services, Well Health Technologies Corp. and Badger Infrastructure Solutions are hitting new lows.
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