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The S&P/TSX Composite climbed a robust 4.0 per cent for the five trading days ending with Monday’s close and stands 4.3 per cent higher for 2022. The benchmark’s Relative Strength Index  (RSI) of 66 leaves it very close to overbought territory – the sell signal is 70.

There are two index constituents trading with technically attractive, oversold RSIs below the buy signal of 30. Great-West Lifeco Inc. is now oversold after dropping 2.3 per cent for the week and Boyd Group Services Inc. is also under the buy signal after falling 5.0 per cent.

There are only five technically vulnerable overbought stocks this week which is a remarkably small number given the index’s surge higher. In order, these are Intertape Polymer Group Inc., Brookfield Infrastructure Partners, ECN Capital Corp., First Quantum Minerals Ltd., and Nutrien Ltd.

There are 17 S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization in the table below. The five largest companies making new highs are Enbridge Inc., Bank of Montreal, Canadian Pacific Railway Ltd., Canadian Natural Resources, and Nutrien Ltd.

There is only one stock hitting new lows and that is Boyd Group Services.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
ENB-TENBRIDGE INC1.1417.14115,479,633,244
BMO-TBANK OF MONTREAL2.8113.2499,900,987,314
CP-TCANADIAN PACIFIC RAILWAY LTD3.0111.2095,094,916,797
CNQ-TCANADIAN NATURAL RESOURCES7.1748.8091,160,297,480
NTR-TNUTRIEN LTD4.1539.2472,352,659,246
BIP-UN-TBROOKFIELD INFRASTRUCTURE PA4.726.2535,833,673,673
FM-TFIRST QUANTUM MINERALS LTD13.5739.3828,917,896,498
TOU-TTOURMALINE OIL CORP9.0834.5617,588,920,649
CCO-TCAMECO CORP11.5733.6114,398,156,749
ARX-TARC RESOURCES LTD8.8043.0411,413,225,069
TIH-TTOROMONT INDUSTRIES LTD2.224.149,866,913,478
TRQ-TTURQUOISE HILL RESOURCES LTD7.7676.257,377,144,810
TCN-TTRICON RESIDENTIAL INC3.287.395,717,227,660
MX-TMETHANEX CORP10.3340.425,213,897,566
POU-TPARAMOUNT RESOURCES LTD -A12.7524.644,273,489,721
STLC-TSTELCO HOLDINGS INC10.6125.353,818,610,281
OGC-TOCEANAGOLD CORP8.6131.822,014,043,454

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
BYD-TBOYD GROUP SERVICES INC-5.00-25.983,180,998,180

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
GWO-TGREAT-WEST LIFECO INC27.4435.6737.95-2.25-4.9819.669.51
BYD-TBOYD GROUP SERVICES INC29.85148.56215.39-5.00-25.9866.5857.53
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
ITP-TINTERTAPE POLYMER GROUP INC83.8739.4227.870.4450.6621.8415.51
BIP-UN-TBROOKFIELD INFRASTRUCTURE PA73.5181.1872.334.726.2538.84176.74
ECN-TECN CAPITAL CORP72.206.654.5013.1624.18#N/A N/A17.38
FM-TFIRST QUANTUM MINERALS LTD71.5542.3429.0413.5739.3825.7913.44
NTR-TNUTRIEN LTD70.73130.5486.864.1539.2417.708.32

Source: Bloomberg

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