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Scott BarlowMarket Strategist

The S&P/TSX Composite fell 0.5 per cent for the trading week ending with Friday’s close and is now 6.6 per cent higher for 2023.

The benchmark’s Relative Strength Index (RSI) if 50 leaves it at exactly the midpoint between the technically attractive, oversold buy signal of 30 and the overbought RSI sell signal of 70.

There are seven oversold index constituents this week led by Altus Group Ltd., H&R REIT, Nutrien Ltd., Canopy Growth Corp. and Northland Power Inc. There are 16 technically vulnerable companies trading above the RSI sell signal of 70. The top five most overbought stocks are Richelieu Hardware Ltd., Bellus Health Inc., TMX Group Ltd., Home Capital Group and Element Fleet Management Corp.

There are eight benchmark members showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The largest are Canadian Pacific Kansas City, Restaurant Brands International, Metro Inc. and TMX Group.

The two companies making new lows are Nutrien Ltd. and Altus Group Ltd.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
CP-TCANADIAN PACIFIC KANSAS CITY2.4410.20103,367,628,796
QSR-TRESTAURANT BRANDS INTERN3.0813.7744,849,593,724
MRU-TMETRO INC/CN2.425.6518,324,262,508
X-TTMX GROUP LTD4.038.818,158,227,092
EFN-TELEMENT FLEET MANAGEMENT COR17.4811.758,027,214,869
BEI-UN-TBOARDWALK REAL ESTATE INVEST4.8027.503,189,121,305
RCH-TRICHELIEU HARDWARE LTD6.3825.212,511,832,050
HCG-THOME CAPITAL GROUP INC0.302.811,684,829,828

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
NTR-TNUTRIEN LTD-6.78-17.3340,247,739,675
AIF-TALTUS GROUP LTD-8.51-24.971,854,827,551

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
AIF-TALTUS GROUP LTD13.4640.4453.02-8.51-24.9737.6021.11
HR-UN-TH&R REAL ESTATE INV-REIT UTS18.8510.7012.25-7.20-10.238.588.17
NTR-TNUTRIEN LTD22.6581.13106.59-6.78-17.335.158.49
WEED-TCANOPY GROWTH CORP23.581.423.58-20.67-54.78#N/A N/A#N/A N/A
NPI-TNORTHLAND POWER INC26.3729.2737.83-9.66-20.2415.0620.24
BHC-TBAUSCH HEALTH COS INC28.337.759.64-0.39-8.82#N/A N/A1.78
ATH-TATHABASCA OIL CORP29.962.752.66-10.1314.112.91#N/A N/A
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
RCH-TRICHELIEU HARDWARE LTD85.2745.0037.896.3825.2115.8118.99
BLU-TBELLUS HEALTH INC81.5119.5912.891.1476.81#N/A N/A#N/A N/A
X-TTMX GROUP LTD76.52146.51134.204.038.8121.8519.26
HCG-THOME CAPITAL GROUP INC75.1943.6236.370.302.8111.077.42
EFN-TELEMENT FLEET MANAGEMENT COR75.0120.5017.9017.4811.7520.9215.81
BYD-TBOYD GROUP SERVICES INC74.74244.22202.976.8416.8463.3039.00
SIA-TSIENNA SENIOR LIVING INC74.3511.7611.846.9110.90#N/A N/A#N/A N/A
CSH-UN-TCHARTWELL RETIREMENT RESIDEN74.179.609.162.7816.31#N/A N/A#N/A N/A
BEI-UN-TBOARDWALK REAL ESTATE INVEST72.9662.6152.224.8027.504.69#N/A N/A
TA-TTRANSALTA CORP72.5313.1012.262.838.7135.5523.86
CPX-TCAPITAL POWER CORP72.5346.4545.691.981.668.9911.23
SJ-TSTELLA-JONES INC72.3558.5846.457.7421.2713.8812.68
SHOP-TSHOPIFY INC - CLASS A72.3283.1253.250.1076.81#N/A N/A148.62
QSR-TRESTAURANT BRANDS INTERN71.4198.7584.813.0813.7731.0023.59
FTS-TFORTIS INC71.1661.5556.061.1714.7720.8820.85
TSU-TTRISURA GROUP LTD70.7136.2037.8313.44-20.0797.6615.55

Source: Bloomberg

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