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The S&P/TSX Composite rose a marginal 0.3 per cent for the trading week ending with Friday’s close and sits almost exactly 1.0 per cent lower for the year. Relative Strength Index (RSI) leaves the benchmark in neutral technical territory with a 52 level that is close to the halfway point between the RSI buy signal of 30 and the overbought sell signal of 70.

There are only two companies trading as official buys by RSI this week with readings below the 30 buy signal – Bausch Health Companies Inc. and Aurora Cannabis Inc. Hexo Corp is trading just out of buy range with an RSI of 31.

There are six index constituents with technically vulnerable RSIs above the overbought sell signal of 70. In order, these are Crescent Point Energy Corp., Cenovus Energy Inc., Gibson Energy Inc., H&R REIT, Enerplus Corp. and Intertape Polymer Group Inc.

There are 12 S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below. The five biggest companies making new highs are Cenovus Energy, ARC Resources Ltd., Whitecap Resources Inc., MEG Energy Corp. and Crescent Point Energy Corp.

There are two stocks establishing new 52-week lows and they are Bausch Health Companies Inc. and Canopy Growth Corp.

Stocks dropping to 52-week lows

Return 1W %Return YTD %Market Cap
BHC-TBAUSCH HEALTH COS INC-8.76-67.204,142,557,454
WEED-TCANOPY GROWTH CORP-11.87-50.912,137,770,514

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
CVE-TCENOVUS ENERGY INC4.9795.2659,436,375,259
ARX-TARC RESOURCES LTD4.6374.0713,556,577,336
WCP-TWHITECAP RESOURCES INC6.9158.967,266,076,590
MEG-TMEG ENERGY CORP4.2895.737,112,252,757
CPG-TCRESCENT POINT ENERGY CORP7.9579.916,904,435,245
CPX-TCAPITAL POWER CORP1.7417.465,546,012,072
ERG-TENERPLUS CORP5.8752.194,887,584,681
CPX-TBAYTEX ENERGY CORP11.1995.654,354,483,964
HR-UN-TH&R REAL ESTATE INV-REIT UTS4.6514.514,099,273,456
GEI-TGIBSON ENERGY INC3.8524.564,035,411,107
FRU-TFREEHOLD ROYALTIES LTD4.0041.402,419,456,357
HWX-THEADWATER EXPLORATION INC7.6949.511,722,974,807

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
BHC-TBAUSCH HEALTH COS INC22.0411.4630.36-8.76-67.2013.612.13
ACB-TAURORA CANNABIS INC29.322.016.48-6.07-70.66#N/A N/A#N/A N/A
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CPG-TCRESCENT POINT ENERGY CORP12.087.426657.9535379.9070810.921244925.23396880415.00534759
CVE-TCENOVUS ENERGY INC30.2317.877854.96527895.2599716.464755756.4155348058.982464236
GEI-TGIBSON ENERGY INC27.5224.032553.84905724.5642126.1132781622.2473726811.68173599
HR-UN-TH&R REAL ESTATE INV-REIT UTS14.2912.817414.65350114.5093610.25100248#N/A N/A5.466970387
ERF-TENERPLUS CORP20.1913.53115.87309952.191998.9986349424.95235896.975425331
ITP-TINTERTAPE POLYMER GROUP INC4030.77561.93679952.8023535.5157133915.362694474.94913755

Source: Bloomberg

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