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The S&P/TSX Composite index was higher by 0.7 per cent higher for the trading week ending with Friday’s close and sits exactly 9.0 per cent lower for the year. The benchmark’s Relative Strength Index (RSI) of 36 leaves it in neutral territory but much closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.

There are 16 index constituents trading with attractive RSIs below the 30 buy signal. Toronto-Dominion Bank and Bank of Nova Scotia are the two most oversold stocks – the first time I can remember that two major banks heading that list - followed by Lundin Mining Corp., Canadian Western Bank and Canadian Natural Resources Ltd..

There are only two stocks trading at technically vulnerable RSI levels above the overbought sell signal of 70 – Saputo Inc. and Thomson Reuters Corp. Shaw Communications is close to overbought with an RSI of 68.

Only one benchmark company, Intertape Polymer Group Inc., is showing strong price momentum by hitting new 52-week highs. Bank of Nova Scotia and Stella-Jones Inc. are making new lows.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
ITP-TINTERTAPE POLYMER GROUP INC2.17281555.373682397483257

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
BNS-TBANK OF NOVA SCOTIA-4.70425-14.6695790505615595
SJ-TSTELLA-JONES INC-3.307573-20.960991956388394

Overbought and oversold stocks on the TSX

OVERSOLD STOCKRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMBest PE Ratio
TD-TTORONTO-DOMINION BANK23.3883.7494.73-3.12-12.0810.459.94
BNS-TBANK OF NOVA SCOTIA24.8375.5685.50-4.70-14.678.998.80
LUN-TLUNDIN MINING CORP25.958.4810.84-9.79-12.174.785.44
CWB-TCANADIAN WESTERN BANK26.8025.8836.07-1.67-27.376.836.82
CNQ-TCANADIAN NATURAL RESOURCES27.1865.1464.85-4.7024.339.085.52
PXT-TPAREX RESOURCES INC27.3521.1624.65-10.87-0.654.672.49
RUS-TRUSSEL METALS INC27.6425.6632.46-2.06-21.833.577.09
KEY-TKEYERA CORP28.0229.0030.88-2.004.9114.8915.43
IVN-TIVANHOE MINES LTD-CL A28.217.4910.29-11.57-27.42165.9212.40
FEC-TFRONTERA ENERGY CORP28.8110.2610.90-2.840.201.921.30
NA-TNATIONAL BANK OF CANADA28.9583.6097.81-1.38-11.588.539.05
PSK-TPRAIRIESKY ROYALTY LTD29.2215.9216.09-5.0717.6021.7010.96
HBM-THUDBAY MINERALS INC29.435.498.69-11.45-40.01#N/A N/A4.86
BEI-UN-TBOARDWALK REAL ESTATE INVEST29.5142.8753.262.29-21.199.41#N/A N/A
TECK-B-TTECK RESOURCES LTD-CLS B29.5640.8642.28-13.9813.865.434.14
SJ-TSTELLA-JONES INC29.9031.2839.48-3.31-20.969.348.99
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMBest PE Ratio
SAP-TSAPUTO INC70.8952528.7629.39584.7299622.15585733.0779646619.41931128
TRI-TTHOMSON REUTERS CORP70.22142134.19138.0214.49307-10.4738633.4140093540.0273319

Source: Bloomberg

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