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The S&P/TSX Composite fell 1.1 per cent for the trading week ending with Friday’s close and now sits 4.6 per cent lower for 2022. The index’s Relative Strength Index (RSI) of 52 leaves it in technical neutral territory, close to the half way point between the oversold buy signal and the overbought RSI sell signal of 70.

There are four benchmark constituents trading at technically attractive, oversold RSIs below 30, fewer than I would have expected given Friday’s sell-off. In order, the most oversold companies are Open Text Corp., Centerra Gold Inc., Cineplex Inc. and CAE Inc.

There are eight technically vulnerable, overbought index stocks according to RSI this week. The five most overbought companies are Shawcor Ltd., Brookfield Infrastructure Partners, Nutrien Ltd., Northland Power Inc. and Capital Power Corp.

There are two S&P/TSX Composite members showing strong price momentum by hitting new 52-week highs – Vermilion Energy Inc. and Advantage Energy Ltd.

There are 11 stocks hitting new 52-week lows and they are sorted by market capitalization in the table below. The three largest stocks making new lows are Open Text Corp., Canadian Tire Corp and CAE Inc.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
VET-TVERMILION ENERGY INC14.98140.546,377,567,888
AAV-TADVANTAGE ENERGY LTD3.0261.002,269,428,593

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
OTEX-TOPEN TEXT CORP-16.30-30.0911,213,705,859
CTC-A-TCANADIAN TIRE CORP-CLASS A-4.56-8.939,918,045,082
CAE-TCAE INC-4.24-21.537,856,242,806
NVEI-TNUVEI CORP-SUBORDINATE VTG-5.13-51.305,627,584,564
PAAS-TPAN AMERICAN SILVER CORP-1.10-33.344,378,940,051
CSH-UN-TCHARTWELL RETIREMENT RESIDEN-3.10-7.452,457,241,966
EQX-TEQUINOX GOLD CORP-0.41-43.111,513,076,644
CG-TCENTERRA GOLD INC-0.37-38.251,298,492,892
WDO-TWESDOME GOLD MINES LTD-3.94-27.981,172,664,109
PLC-TPARK LAWN CORP-4.48-33.22938,292,898
CF-TCANACCORD GENUITY GROUP INC-6.76-46.06789,146,258

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMBest PE Ratio
OTEX-TOPEN TEXT CORP21.8941.3154.29-16.30-30.0919.219.79
CG-TCENTERRA GOLD INC25.255.9210.05-0.37-38.2540.9623.84
CGX-TCINEPLEX INC26.499.1912.40-6.48-32.11#N/A N/A8.53
CAE-TCAE INC29.3124.6931.82-4.24-21.5337.7721.81
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMBest PE Ratio
SCL-TSHAWCOR LTD81.828.215.494.0667.21#N/A N/A7.96
BIP-U-TBROOKFIELD INFRASTRUCTURE PA79.3556.0551.181.6511.3652.43#N/A N/A
NTR-TNUTRIEN LTD77.09129.78108.6511.4739.108.336.06
NPI-TNORTHLAND POWER INC76.6545.6239.251.1122.5539.1025.22
CPX-TCAPITAL POWER CORP74.2451.4042.672.0234.0421.0918.30
VET-TVERMILION ENERGY INC71.9838.4823.6914.98140.543.485.07
TECK-B-TTECK RESOURCES LTD-CLS B71.3746.0843.577.3332.204.627.79
TFII-TTFI INTERNATIONAL INC70.22132.56121.435.54-0.7616.5013.10

Source: Bloomberg

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