The most oversold and overbought stocks on the TSX

The S&P/TSX Composite Index climbed another 1.4 per cent for the trading weekend ending with Thursday’s close and the benchmark now stands 5.2 per cent for the year. The index’s Relative Strength Index (RSI) of 57 leaves it in technically neutral territory, not far from the midpoint between the oversold RSI buy signal of 30 and the overbought sell signal of 70.

There are seven oversold, technically attractive index members trading with RSIs below 30 this week. The five most oversold companies are, in order, Canopy Growth Corp., Artis REIT, Northwest Healthcare Properties REIT, GoEasy Ltd. and Nutrien Ltd.

There are 21 stocks trading with overbought, technically vulnerable RSIs above the sell signal of 70. The most overbought companies are Alamos Gold Inc., Kinross Gold Corp., Osisko Gold Royalties Ltd., Metro Inc. and Endeavour Silver Corp.

There are seven equities showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization in the table below. The largest companies hitting new highs are Constellation Software, Loblaw Companies Ltd., Hydro One Ltd. and Quebecor Inc.

Three stocks making new lows are Nutrien Ltd., Cargojet inc. and Advantage Energy Ltd.