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The S&P/TSX Composite dropped 2.4 per cent for the trading week ending with Friday’s close and sits 3.3 per cent lower year to date.

In terms of Relative Strength Index (RSI), which on the table is updated to 10:00am Monday, the benchmark’s 41 reading is not quite as close to the technically oversold RSI buy signal of 30 as I expected. It is, however, a long way from the overbought RSI sell signal of 70.

There are 13 index constituents trading in officially oversold territory as of 10:00am Monday. The most oversold companies are, in order, Dream Office REIT, Bausch Health Companies Inc., Enghouse Systems Ltd., Tricon Residential Inc., Killam Apartment REIT and Rogers Communications Inc.

There are five TSX stocks trading at technically vulnerable RSI levels above the sell signal of 70 – Enerplus Corp., Baytex Energy Corp., Crescent Point Energy Corp., Boralex Inc. and Capital Power Corp.

As of Friday’s close, there were two S&P/TSX Composite members showing strong price momentum by hitting new 52-week highs – Capital Power Corp. and Boralex Inc.  - and they are sorted by market capitalization in the table below.

There are 19 companies making new 52-week lows. The largest of these are CIBC, Restaurant Brands International, Gildan Activewear Inc., Allied Properties REIT, and Premium Brands Holdings Corp.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
CPX-TCAPITAL POWER CORP1.4019.105,527,820,474
BLX-TBORALEX INC -A9.4929.224,337,769,527

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
CM-TCAN IMPERIAL BK OF COMMERCE-4.28-7.7459,796,939,518
QSR-TRESTAURANT BRANDS INTERN-2.32-15.7228,515,639,443
GIL-TGILDAN ACTIVEWEAR INC-5.47-29.646,854,521,500
AP-UN-TALLIED PROPERTIES REAL ESTAT-5.30-15.734,527,763,392
PBH-TPREMIUM BRANDS HOLDINGS CORP-2.39-24.524,168,878,243
SNC-TSNC-LAVALIN GROUP INC-3.91-23.544,060,569,849
BHC-TBAUSCH HEALTH COS INC-10.56-70.663,614,797,080
DIR-UN-TDREAM INDUSTRIAL REAL ESTATE-6.26-22.923,447,265,417
BYD-TBOYD GROUP SERVICES INC-6.69-34.582,751,876,383
CWB-TCANADIAN WESTERN BANK-5.06-20.132,547,457,397
TLRY-TTILRAY BRANDS INC-18.64-51.572,055,535,956
KMP-UN-TKILLAM APARTMENT REAL ESTATE-9.02-25.471,926,042,670
RUS-TRUSSEL METALS INC-4.10-8.741,846,641,612
WEED-TCANOPY GROWTH CORP-14.39-57.971,703,905,649
ENGH-TENGHOUSE SYSTEMS LTD-26.33-48.221,340,635,420
CRON-TCRONOS GROUP INC-4.67-30.321,264,760,933
D-UN-TDREAM OFFICE REAL ESTATE INV-8.46-13.88971,463,121
ACB-TAURORA CANNABIS INC-11.94-74.16488,324,076
HUT-THUT 8 MINING CORP-17.30-75.93372,638,765

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMBEST_PE_RATIO
D-UN-TDREAM OFFICE REAL ESTATE INV17.9720.2124.56-8.46-13.888.98#N/A N/A
BHC-TBAUSCH HEALTH COS INC19.1710.0629.74-10.56-70.6611.661.85
ENGH-TENGHOUSE SYSTEMS LTD21.2024.2146.01-26.33-48.2214.8015.18
TCN-TTRICON RESIDENTIAL INC22.1013.2117.97-11.30-29.19#N/A N/A11.48
KMP-UN-TKILLAM APARTMENT REAL ESTATE23.5516.8021.58-9.02-25.4716.31#N/A N/A
RCI-B-TROGERS COMMUNICATIONS INC-B25.6960.5063.62-3.373.3316.1115.14
SMU-UN-TSUMMIT INDUSTRIAL INCOME REI26.4117.2721.64-8.07-24.0128.47#N/A N/A
AP-UN-TALLIED PROPERTIES REAL ESTAT27.0735.6342.93-5.30-15.7347.32#N/A N/A
ACB-TAURORA CANNABIS INC27.991.646.31-11.94-74.16#N/A N/A#N/A N/A
CWB-TCANADIAN WESTERN BANK28.3327.7536.55-5.06-20.137.327.31
DIR-UN-TDREAM INDUSTRIAL REAL ESTATE28.3812.6316.07-6.26-22.9215.69#N/A N/A
CSH-UN-TCHARTWELL RETIREMENT RESIDEN28.7911.1112.19-6.94-1.64#N/A N/A#N/A N/A
BEI-UN-TBOARDWALK REAL ESTATE INVEST29.5145.4953.47-7.06-14.129.98#N/A N/A
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMBEST_PE_RATIO
ERF-TENERPLUS CORP77.2660421.0113.920711.3917869.529369.1422534234.90184413
BTE-TBAYTEX ENERGY CORP76.143018.294.7854515.29412125.57547.7143189138.581780538
CPG-TCRESCENT POINT ENERGY CORP76.068712.27.65218.44370895.0979111.0297345.169491525
BLX-TBORALEX INC -A73.1867142.2537.0639.48977129.2196340.6334392552.16049383
CPX-TCAPITAL POWER CORP70.3903745.5441.450351.39951919.1007723.0035090819.58709677

Source: Bloomberg

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