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The S&P/TSX Compoiste was almost exactly flat for the trading week ending with Friday’s close, up a scant 0.05 per cent, and is now higher by 8.8 per cent for 2021.

The benchmark’s Relative Strength Index (RSI) of 61 leaves it in the higher end of the technically neutral range, closer to the overbought sell signal of 70 than the oversold RSI buy signal of 30.

Renewable power stocks continue to take a beating, leaving Innergex Renewable Energy Inc. and Boralex Inc. as the only two oversold, technically attractive stocks by RSI this week. Cargojet Inc. and Real Matters Inc. are closest to oversold territory, both with RSIs of 36.

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The list of technically vulnerable, overbought index companies is less than half the size of last week at 20 members. Banks dominate the list with National Bank of Canada the most overbought stock, Canadian Imperial Bank of Commerce the third, and Laurentian Bank, Toronto-Dominion Bank, Bank of Montreal and Royal Bank of Canada also represented. Other prominent names on the overbought list include Shaw Communications Inc. for takeover reasons, Power Corp. of Canada and Cominar REIT.

Data for the table this week are as 11 a.m. (ET) Monday.

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
INE-TINNERGEX RENEWABLE ENERGY24.5321.4824.07-5.86-23.13#N/A N/A121.36
BLX-TBORALEX INC -A26.6037.3039.09-11.12-22.2455.7656.77
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
NA-TNATIONAL BANK OF CANADA93.7587.9069.791.9523.9313.3411.77
SJR-B-TSHAW COMMUNICATIONS INC-B86.9533.7523.5841.2153.0425.0524.82
CM-TCAN IMPERIAL BK OF COMMERCE84.25126.18104.811.8616.6412.8610.74
CJR-B-TCORUS ENTERTAINMENT INC-B SH79.106.103.865.5348.688.11#N/A N/A
PBH-TPREMIUM BRANDS HOLDINGS CORP78.85117.5498.560.5916.0448.2226.37
POW-TPOWER CORP OF CANADA75.7333.5427.641.9214.5411.109.56
AIF-TALTUS GROUP LTD75.4862.6649.952.1627.9868.9531.19
LB-TLAURENTIAN BANK OF CANADA75.4740.7430.461.2529.8713.1611.70
STN-TSTANTEC INC74.9053.2442.902.0629.6528.0022.82
EMA-TEMERA INC74.8555.2753.932.972.5920.6219.56
MFI-TMAPLE LEAF FOODS INC74.8228.6926.944.831.5529.4122.95
TD-TTORONTO-DOMINION BANK73.0881.8667.200.9415.8212.3212.47
IGM-TIGM FINANCIAL INC72.7539.5733.751.6814.0812.6210.44
WPK-TWINPAK LTD72.1443.5742.913.742.9721.2120.98
CUF-UN-TCOMINAR REAL ESTATE INV-TR U71.729.838.112.0020.4510.66#N/A N/A
ITP-TINTERTAPE POLYMER GROUP INC71.6929.1718.932.4522.2319.0114.22
FTS-TFORTIS INC71.6153.8852.712.254.0720.7918.73
BMO-TBANK OF MONTREAL71.54110.8687.381.2416.5813.4911.04
RY-TROYAL BANK OF CANADA71.18116.22100.720.0812.5614.3711.98
EFN-TELEMENT FLEET MANAGEMENT COR70.1013.9811.820.435.5318.8915.32

Source: Bloomberg

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