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The S&P/TSX Composite rose 0.6 per cent for the trading week ending with Friday’s close and now stands 4.7 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 47 leaves it in neutral technical territory between the attractive oversold buy signal of 30 and the overbought RSI sell signal of 70.

There are nine index members trading with promising RSIs below the 30 buy signal. The most oversold stock is Rogers Communications Inc., followed by Telus Corp., Canopy Growth Corp., Nuvei Corp. and Pet Valu Holdings Ltd.

There are four stocks with overbought RSIs above the 70 sell signal. In order, these are Westshore Terminals Investment Corp., Restaurant Brands International, Bellus Health Inc. and Sleep Country Canada Holdings Inc.

There are six S&P/TSX Composite constituents showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization in the table below. The largest company making a new high is Constellation Software Inc., followed by Restaurant Brands International, Canadian Apartment Properties REIT, TMX Group Ltd., Prairiesky Royalty Ltd. and Mullen Group Ltd.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
QSR-TRESTAURANT BRANDS INTERN2.8518.1246,576,554,401
X-TTMX GROUP LTD1.1310.648,245,467,568
PSK-TPRAIRIESKY ROYALTY LTD4.6912.275,755,509,085
MTL-TMULLEN GROUP LTD2.6212.451,442,197,972

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
RCI-B-TROGERS COMMUNICATIONS INC-B19.2559.6161.02-3.09-5.1615.7312.37
T-TTELUS CORP21.6725.7327.99-2.32-0.2319.1823.82
WEED-TCANOPY GROWTH CORP22.241.143.40-5.00-63.69#N/A N/A#N/A N/A
NVEI-TNUVEI CORP-SUBORDINATE VTG25.3841.1044.29-5.0219.4450.5113.87
PET-TPET VALU HOLDINGS LTD27.3231.2737.00-2.27-19.6122.1018.68
PRMW-TPRIMO WATER CORP27.6017.4919.70-2.88-15.8433.8816.54
TLRY-TTILRAY BRANDS INC27.772.344.09-7.51-36.24#N/A N/A#N/A N/A
NTR-TNUTRIEN LTD28.5573.60104.30-3.30-25.004.708.26
WN-TWESTON (GEORGE) LTD28.67160.28164.39-2.83-4.2042.2314.05
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
WTE-TWESTSHORE TERMINALS INVESTME78.7533.2226.316.0050.0428.3720.23
QSR-TRESTAURANT BRANDS INTERN71.35102.5386.552.8518.1232.3724.70
BLU-TBELLUS HEALTH INC71.0919.6513.28-0.7177.35#N/A N/A#N/A N/A
ZZZ-TSLEEP COUNTRY CANADA HOLDING70.1626.9724.073.6119.469.3610.14

Source: Bloomberg

Follow Scott Barlow on Twitter: @SBarlow_ROBOpens in a new window

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