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The S&P/TSX Composite dropped 1.4 per cent for the trading week ending with Friday’s close and now stands 4.7 per cent higher for 2023. The benchmark’s Relative Strength Index (RSI) of 40 leaves it in the lower portion of the technically neutral range, closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.

There are 22 technically attractive, oversold index members according to RSI this week. Precious metals stocks dominate the top of the list of most oversold companies as it’s led by First Majestic Silver Corp., MAG Silver Corp., Trisura Group Ltd., Seabridge Gold Inc., and Kinross Gold Corp.

There are seven overbought, technically vulnerable benchmark names – Stantec Inc., Pet Valu Holdings Ltd., Premium Brands Holdings Corp., Great-West Lifeco, IA Financial Corp., Maple Leaf Foods Inc. and Dream Industrial REIT.

There are three index constituents showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The three stocks are Stantec Inc., Pet Valu Holdings and Altus Group Ltd.

There are four companies making new 52-week lows – Boralex Inc., Innergex Renewable Energy, First Majestic Silver and Cronos Group Inc.

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
STN-TSTANTEC INC10.2222.158,671,913,905
PET-TPET VALU HOLDINGS LTD3.659.563,078,959,312
AIF-TALTUS GROUP LTD1.4112.142,746,840,686

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
BLX-TBORALEX INC -A-4.92-11.573,636,777,262
INE-TINNERGEX RENEWABLE ENERGY-12.06-14.512,827,239,737
FR-TFIRST MAJESTIC SILVER CORP-15.70-28.102,225,140,481
CRON-TCRONOS GROUP INC-6.17-15.991,099,575,053

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
FR-TFIRST MAJESTIC SILVER CORP16.188.1110.70-15.70-28.10#N/A N/A#N/A N/A
MAG-TMAG SILVER CORP20.1515.7218.14-7.53-25.6741.8422.45
TSU-TTRISURA GROUP LTD20.4534.5438.11-7.15-23.7420.6718.06
SEA-TSEABRIDGE GOLD INC21.3314.5316.79-4.34-14.53110.32#N/A N/A
K-TKINROSS GOLD CORP21.394.925.20-5.38-10.8710.9215.04
ABX-TBARRICK GOLD CORP24.0021.7722.67-3.54-6.2018.9019.71
YRI-TYAMANA GOLD INC24.286.926.74-3.49-7.9818.8818.21
INE-TINNERGEX RENEWABLE ENERGY24.8313.8517.20-12.06-14.51#N/A N/A337.80
NPI-TNORTHLAND POWER INC24.8333.1339.35-1.02-10.5216.6621.63
AEM-TAGNICO EAGLE MINES LTD25.8061.8363.37-0.77-12.1223.4624.76
SSRM-TSSR MINING INC26.0618.4221.02-2.23-13.0724.7520.63
TA-TTRANSALTA CORP26.9411.3512.99-7.65-6.28#N/A N/A25.45
EIF-TEXCHANGE INCOME CORP27.3349.9847.57-7.70-4.6719.4714.11
PAAS-TPAN AMERICAN SILVER CORP27.8720.2523.53-7.24-8.37#N/A N/A25.95
NG-TNOVAGOLD RESOURCES INC27.967.497.08-4.83-7.42#N/A N/A#N/A N/A
RNW-TTRANSALTA RENEWABLES INC28.2911.2215.03-6.971.0431.6814.51
JWEL-TJAMIESON WELLNESS INC28.5033.5035.16-8.79-4.5321.3619.49
SII-TSPROTT INC28.7246.5847.99-9.023.4236.5822.42
SSL-TSANDSTORM GOLD LTD29.066.557.50-4.93-7.7730.0076.61
HBM-THUDBAY MINERALS INC29.136.316.34-9.73-7.758.318.13
FNV-TFRANCO-NEVADA CORP29.18170.60176.40-4.43-7.5735.4533.74
BLX-TBORALEX INC -A29.3535.3941.49-4.92-11.5737.7133.61
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
STN-TSTANTEC INC85.4479.2563.4110.2222.1531.0022.63
PET-TPET VALU HOLDINGS LTD79.3342.8735.503.659.56#N/A N/A26.08
PBH-TPREMIUM BRANDS HOLDINGS CORP77.95100.2091.801.3321.7823.9419.08
GWO-TGREAT-WEST LIFECO INC74.2036.7932.090.7417.541.6410.13
IAG-TIA FINANCIAL CORP INC71.2789.3772.550.7913.602.439.37
MFI-TMAPLE LEAF FOODS INC71.2227.4824.423.9712.39339.5425.19
DIR-UN-TDREAM INDUSTRIAL REAL ESTATE70.4814.8712.43-0.4027.7418.24#N/A N/A

Source: Bloomberg

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