The S&P/TSX composite was almost exactly flat for the trading week ending with Friday’s close, falling 0.07 per cent. Year to date the benchmark is lower by 6.0 per cent.
Relative Strength Index (RSI) leaves the index in the upper end of technically neutral territory with a 58 reading that is closer to the RSI sell signal of 70 than the oversold, RSI buy signal of 30.
There are four oversold companies trading below the RSI buy signal of 30 this week. In order, these are Spin Master Corp., Chartwell Retirement Residences, ECN Capital Corp. and Westshore Terminals Investment Corp.
There are eight stocks trading in the overbought range with RSIs above the 70 sell signal. The five most overbought companies are Martinrea International Inc., Enerflex Ltd., Imperial Oil ltd., Freehold Royalties Ltd., and Canadian Natural Resources.
There are four index members showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. Restaurant Brands International is the largest company followed by Enerplus Corp., Nuvista Energy Ltd. and Freehold Royalties.
There are six stocks making new 52-week lows, led by Colliers International Group Inc., Parkland Corp., and Spin Master.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.