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The S&P/TSX Composite jumped 2.9 per cent (total return) for the trading week ending with Friday’s close and is now only 3.2 per cent lower for 2022. The benchmark, however, is now bumping up against overbought, technically vulnerable levels according to Relative Strength Index (RSI). At 68, the index RSI is only marginally below the 70 sell signal that would indicate it’s overbought.

There is only one benchmark stock – TransAlta Corp. -  trading at attractive oversold levels with an RSI below the 30 buy signal. Centerra Gold Inc. is right at the buy signal and CAE is close to oversold territory with an RSI of 31.

There are 26 companies trading in the overbought range above the RSI sell signal of 70. The five most extended stocks are Element Fleet Management Corp., Northland Power Inc., Martinrea International Inc. ATS Automation Tooling Systems and Brookfield Asset Management.

Six benchmark constituents are showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below.    Alimentation Couche-Tard is the largest stock making new highs, followed by Dollarama Inc., Northland Power Inc., Element Fleet Management, Exchange Income Corp and Mullen Group.

The only company hitting new 52-week lows is cemetery operator Park Lawn Corp.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
ATD-TALIMENTATION COUCHE-TARD INC3.8212.7160,823,697,684
DOL-TDOLLARAMA INC4.2625.4722,968,480,279
NPI-TNORTHLAND POWER INC7.1422.7110,771,414,097
EFN-TELEMENT FLEET MANAGEMENT COR14.1635.596,854,720,924
EIF-TEXCHANGE INCOME CORP2.3619.821,866,318,984
MTL-TMULLEN GROUP LTD1.7732.371,388,877,165

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
PLC-TPARK LAWN CORP-6.25-27.231,020,993,360

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
TA-TTRANSALTA CORP25.3912.7313.70-7.69-8.73#N/A N/A18.06
CG-TCENTERRA GOLD INC30.036.6210.24-17.15-31.281.6021.00
CAE-TCAE INC31.3027.5624.20
NAMERSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
EFN-TELEMENT FLEET MANAGEMENT COR87.3217.2513.0214.1635.5920.2916.38
NPI-TNORTHLAND POWER INC86.4345.7438.967.1422.7139.2031.54
MRE-TMARTINREA INTERNATIONAL INC78.4310.959.6315.63-3.7138.385.11
ATA-TATS AUTOMATION TOOLING SYS78.3846.0143.218.08-8.4230.6418.44
BAM-A-TBROOKFIELD ASSET MANAGE-CL A77.6568.5567.806.28-9.79240.2517.51
ECN-TECN CAPITAL CORP77.617.135.5813.5433.97#N/A N/A15.95
SNC-TSNC-LAVALIN GROUP INC77.5727.3028.1712.35-11.5546.5317.84
BYD-TBOYD GROUP SERVICES INC77.51193.00171.5219.03-3.13132.8543.66
AFN-TAG GROWTH INTERNATIONAL INC77.3039.5034.4517.8825.7537.8611.97
QSR-TRESTAURANT BRANDS INTERN76.4677.2270.790.222.7518.8119.31
IAG-TIA FINANCIAL CORP INC76.0273.1471.504.803.842.808.16
MTL-TMULLEN GROUP LTD75.6214.9312.341.7732.3717.5710.57
SJ-TSTELLA-JONES INC75.4140.5438.217.332.4413.0810.81
BBD-B-TBOMBARDIER INC-B75.1132.6735.4115.56-22.21#N/A N/A#N/A N/A
TFII-TTFI INTERNATIONAL INC75.05137.23121.64-0.11-2.6917.1913.62
CHE-UN-TCHEMTRADE LOGISTICS INCOM FD74.129.157.808.4129.22#N/A N/A#N/A N/A
AIF-TALTUS GROUP LTD73.9756.3154.287.36-20.1576.3031.08
BEI-U-TBOARDWALK REAL ESTATE INVEST73.3250.7452.616.26-6.356.68#N/A N/A
TRI-TTHOMSON REUTERS CORP73.15148.81137.140.88-0.72245.4140.47
WCN-TWASTE CONNECTIONS INC72.77180.76165.701.005.2344.7934.40
TCN-TTRICON RESIDENTIAL INC71.7615.1017.324.35-21.27#N/A N/A18.70
SRU-UN-TSMARTCENTRES REAL ESTATE INV71.3730.2230.564.21-2.7317.43#N/A N/A
BBU-UN-TBROOKFIELD BUSINESS PT-UNIT71.0632.8033.502.60-10.585.35#N/A N/A
AQN-TALGONQUIN POWER & UTILITIES70.9318.4718.131.433.5828.5618.96
HR-U-TH&R REAL ESTATE INV-REIT UTS70.1213.9012.905.3812.1810.38#N/A N/A
EIF-TEXCHANGE INCOME CORP70.0948.9343.232.3619.8223.4412.28

Source: Bloomberg

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