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The S&P/TSX Composite dropped 1.2 per cent for the trading week ending with Friday’s close, after being in official overbought territory the week prior.

The benchmark is now in the technically neutral range, according to Relative Strength Index (RSI), with a reading of 55 that is only slightly closer to the RSI sell signal of 70 than the oversold, technically attractive buy signal of 30.

We have one oversold stock this week and it’s a big one – Canadian National Railway Co.

CN Rail fell 8.6 per cent for the week as the firm’s participation in the competitive bidding war for U.S. competitor Kansas City Southern heated up. PrairieSky Royalty Ltd. is close to oversold with an RSI of 31.

There are 17 overbought benchmark stocks by RSI this week, led by Canadian Tire Corp.. Great-West Lifeco Inc. is next on the list followed by Franco-Nevada Corp. and two REITs – Summit Industrial Income REIT and Crombie REIT.

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CNR-TCANADIAN NATL RAILWAY CO29.52135.11139.19-8.62-2.5025.4522.82
PSK-TPRAIRIESKY ROYALTY LTD31.3512.76
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CTC-A-TCANADIAN TIRE CORP-CLASS A81.55198.18156.403.5121.0815.4814.28
GWO-TGREAT-WEST LIFECO INC80.4835.4729.170.8617.68#N-A N-A11.29
FNV-TFRANCO-NEVADA CORP79.15176.22174.743.8011.8155.2142.32
SMU-UN-TSUMMIT INDUSTRIAL INCOME REI78.3815.8713.216.6319.0419.68#N-A N-A
CRR-UN-TCROMBIE REAL ESTATE INVESTME78.3816.4514.182.0615.5137.38#N-A N-A
WCN-TWASTE CONNECTIONS INC78.13145.59133.200.7913.0052.2138.83
LB-TLAURENTIAN BANK OF CANADA75.4442.9131.727.3939.6513.8611.96
SJR-B-TSHAW COMMUNICATIONS INC-B74.2635.1224.89-1.0357.5324.1425.21
GC-TGREAT CANADIAN GAMING CORP73.8744.2934.950.551.75#N-A N-A#N-A N-A
POW-TPOWER CORP OF CANADA73.7334.9828.791.0720.8711.5710.06
DOL-TDOLLARAMA INC73.6157.3551.050.2111.5131.9925.19
IGM-TIGM FINANCIAL INC73.4541.4034.513.1022.1613.2110.89
FSV-TFIRSTSERVICE CORP72.24210.54175.121.5220.5081.2146.45
IFC-TINTACT FINANCIAL CORP71.89163.38145.910.049.0723.8417.78
STN-TSTANTEC INC71.3057.6444.66-1.2241.2830.3124.75
IVN-TIVANHOE MINES LTD-CL A71.068.866.071.6426.82#N-A N-A152.06
EFN-TELEMENT FLEET MANAGEMENT COR70.5714.4912.304.369.7119.5815.95

Source: Bloomberg

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