The S&P/TSX Composite eased lower by 0.2 per cent for the trading week ending with Friday’s close, leaving the benchmark up 7.5 per cent for the year. The index’s Relative Strength Index (RSI) of 60 leaves it in technically neutral territory although closer to the overbought sell signal of 70 than the technically attractive RSI buy signal at 30.
There are seven index members trading with promising oversold RSIs below 30. The five most oversold companies are Dye and Durham Ltd., Artis REIT, Canopy Growth Corp, K92 Mining and Celestica Inc.
There are 16 S&P/TSX Composite constituents trading with RSIs above the sell signal of 70. The most overbought names are Bellus Health Inc., Great-West Lifeco, Home Capital Growth inc., Metro Inc. and Winpak Ltd.
The 12 companies showing strong price momentum by making new 52-week highs are ranked by market capitalization in the table below. The largest stocks are Constellation Software, Restaurant Brands International, Loblaw Companies, Great-West Lifeco and CGI inc.
Only one stock – Ballard Power Systems Inc – is hitting a 52-week low.
Scott Barlow