The most oversold and overbought stocks on the TSX

The S&P/TSX Composite Index fell 0.5 per cent for the trading week ending with Friday’s close and now stands 7.1 per cent higher for 2023. The benchmark’s Relative Strength Index (RSI) of 55 leaves it in neutral technical territory, between the oversold buy signal of 70 and the overbought sell signal of 70.

There are nine index stocks trading with attractive RSIs below the 30 buy signal. In order, the five most oversold companies are Altus Group Ltd., Thomson Reuters Corp., Bausch Health Co. Inc., Colliers International Group and Gildan Activewear.

There are 14 benchmark constituents with technically vulnerable RSIs above the sell signal of 70. The top five are Bellus Health Inc., Shopify Inc., Richelieu Hardware Ltd., Transalta Corp and Home Capital Group Inc.

There are six S&P/TSX Composite members showing strong price momentum by hitting new 52-week highs. These are Shopify, Wheaton Precious Metals Corp., Open Text Corp., Lundin Gold Inc., Ero Copper Corp and Torex Gold Resources. There are no index stocks making new lows this week.