The S&P/TSX Composite rose another 0.7 per cent for the trading week ending with Friday’s close and stands 5.9 per cent higher for 2023. The benchmark’s Relative Strength Index (RSI) of 66 leaves it in the higher reaches of technical neutral territory, far closer to the overbought sell signal of 70 than the technically attractive, oversold range below the RSI buy signal of 30.
There are no index constituents trading at oversold levels below the RSI buy signal this week. There are 20 overbought, technically vulnerable stocks led by Chartwell Retirement Residences, Dream Industrial REIT, Parex Resources Inc., Great-West Lifeco Inc. and Endeavour Mining PLC
There are seven stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The largest companies making new highs are Constellation Software Inc., Yamana Gold Inc. and Alamos Gold Inc.
There are no companies making new 52-week lows.
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