The most oversold and overbought stocks on the TSX

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-T	MANULIFE FINANCIAL CORP	3.80	14.93	50,877,923,004
NA-T	NATIONAL BANK OF CANADA	3.69	12.62	34,649,570,173
GFL-T	GFL ENVIRONMENTAL INC-SUB VT	2.37	8.31	14,914,085,640
DSG-T	DESCARTES SYSTEMS GRP/THE	3.94	10.63	8,857,194,061
STN-T	STANTEC INC	0.72	23.03	8,847,740,411
LNR-T	LINAMAR CORP	3.38	23.78	4,664,962,553
STLC-T	STELCO HOLDINGS INC	17.66	37.35	3,329,773,118
SJ-T	STELLA-JONES INC	6.77	4.64	2,991,837,159
ERO-T	ERO COPPER CORP	20.45	32.73	2,282,480,337

Overbought and oversold stocks on the TSX

	OVERSOLD STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
ACO-X-T	ATCO LTD -CLASS I	26.45	40.45	43.96	-5.02	-3.45	11.13	11.59
JWEL-T	JAMIESON WELLNESS INC	27.67	31.78	35.14	-4.62	-8.95	20.26	19.05
SIA-T	SIENNA SENIOR LIVING INC	29.69	11.08	12.39	-6.02	3.00	166.47	#N/A N/A

	OVERBOUGHT STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
STN-T	STANTEC INC	83.61	79.82	64.01	0.72	23.03	31.22	22.80
PBH-T	PREMIUM BRANDS HOLDINGS CORP	79.27	101.61	91.84	1.41	23.49	24.27	19.40
STLC-T	STELCO HOLDINGS INC	78.46	60.40	39.06	17.66	37.35	4.20	8.66
ASTL-T	ALGOMA STEEL GROUP INC	74.28	12.34	10.50	22.25	45.28	1.45	8.31
MX-T	METHANEX CORP	74.08	73.94	53.46	10.66	44.25	12.16	15.47
POW-T	POWER CORP OF CANADA	73.91	36.99	34.09	3.27	16.14	15.49	9.67
MFI-T	MAPLE LEAF FOODS INC	73.59	28.09	24.44	2.22	14.89	347.07	25.75
UNS-T	UNI-SELECT INC	72.45	46.88	37.10	16.39	9.43	26.39	18.28
GIL-T	GILDAN ACTIVEWEAR INC	71.28	45.71	39.37	7.30	23.27	11.10	10.92
BEI-U-T	BOARDWALK REAL ESTATE INVEST	71.12	59.82	49.35	2.89	21.40	8.91	#N/A N/A
DPM-T	DUNDEE PRECIOUS METALS INC	71.09	9.15	6.87	10.11	40.55	12.59	8.04
ATH-T	ATHABASCA OIL CORP	70.39	3.19	2.51	9.62	32.37	4.73	#N/A N/A
ONEX-T	ONEX CORPORATION	70.17	75.44	67.75	9.06	15.73	18.57	#N/A N/A
SPB-T	SUPERIOR PLUS CORP	70.03	11.43	10.89	3.35	2.89	58.09	20.56

Source: Bloomberg

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Overbought and oversold stocks on the TSX

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