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The S&P/TSX Composite jumped 1.9 per cent for the trading week ending with Friday’s close and is now higher by 6.7 per cent for 2023. The benchmark’s Relative Strength Index (RSI) of 58 leaves it in the upper end of neutral technical territory, closer to the overbought sell signal of 70 than the oversold RSI buy signal of 30.

There are three oversold index stocks trading with attractive RSIs below the buy signal this week. These are, in order, ATCO Ltd., Jamieson Wellness Inc. and Sienna Senior Living Inc.

There are 14 technically vulnerable, overbought benchmark companies this week. The five most extended stocks are Stantec Inc., Premium Brands Holdings Corp., Stelco Holdings Inc., Algoma Steel Group Inc. and Methanex Corp.

There are nine S&P/TSX companies showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The five largest companies are Manulife Financial Corp., National Bank of Canada, GFL Environmental Inc., Descartes Systems Group Inc., and Stantec.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
MFC-TMANULIFE FINANCIAL CORP3.8014.9350,877,923,004
NA-TNATIONAL BANK OF CANADA3.6912.6234,649,570,173
GFL-TGFL ENVIRONMENTAL INC-SUB VT2.378.3114,914,085,640
DSG-TDESCARTES SYSTEMS GRP/THE3.9410.638,857,194,061
STN-TSTANTEC INC0.7223.038,847,740,411
LNR-TLINAMAR CORP3.3823.784,664,962,553
STLC-TSTELCO HOLDINGS INC17.6637.353,329,773,118
SJ-TSTELLA-JONES INC6.774.642,991,837,159
ERO-TERO COPPER CORP20.4532.732,282,480,337

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
ACO-X-TATCO LTD -CLASS I26.4540.4543.96-5.02-3.4511.1311.59
JWEL-TJAMIESON WELLNESS INC27.6731.7835.14-4.62-8.9520.2619.05
SIA-TSIENNA SENIOR LIVING INC29.6911.0812.39-6.023.00166.47#N/A N/A
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
STN-TSTANTEC INC83.6179.8264.010.7223.0331.2222.80
PBH-TPREMIUM BRANDS HOLDINGS CORP79.27101.6191.841.4123.4924.2719.40
STLC-TSTELCO HOLDINGS INC78.4660.4039.0617.6637.354.208.66
ASTL-TALGOMA STEEL GROUP INC74.2812.3410.5022.2545.281.458.31
MX-TMETHANEX CORP74.0873.9453.4610.6644.2512.1615.47
POW-TPOWER CORP OF CANADA73.9136.9934.093.2716.1415.499.67
MFI-TMAPLE LEAF FOODS INC73.5928.0924.442.2214.89347.0725.75
UNS-TUNI-SELECT INC72.4546.8837.1016.399.4326.3918.28
GIL-TGILDAN ACTIVEWEAR INC71.2845.7139.377.3023.2711.1010.92
BEI-U-TBOARDWALK REAL ESTATE INVEST71.1259.8249.352.8921.408.91#N/A N/A
DPM-TDUNDEE PRECIOUS METALS INC71.099.156.8710.1140.5512.598.04
ATH-TATHABASCA OIL CORP70.393.192.519.6232.374.73#N/A N/A
ONEX-TONEX CORPORATION70.1775.4467.759.0615.7318.57#N/A N/A
SPB-TSUPERIOR PLUS CORP70.0311.4310.893.352.8958.0920.56

Source: Bloomberg

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 12/06/24 10:49am EDT.

SymbolName% changeLast
ACO-X-T
Atco Ltd Cl I NV
+0.23%40
JWEL-T
Jamieson Wellness Inc
+0.95%27.51
SIA-T
Sienna Senior Living Inc
+1.25%14.56
STN-T
Stantec Inc
+1.38%112.54
PBH-T
Premium Brands Holdings Corp
+1.11%89.93
STLC-T
Stelco Holdings Inc
+1.32%38.42
ASTL-T
Algoma Steel Group Inc
-0.8%9.93
MX-T
Methanex Corp
+0.89%70.59
MFC-T
Manulife Fin
+0.7%35.73
NA-T
National Bank of Canada
-4.81%110.74
GFL-T
Gfl Environmental Inc
-0.63%50.62
DSG-T
Descartes Sys
+1.46%128.79

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