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The S&P/TSX Composite Index fell 1.5 per cent for the trading week ending with Friday’s close and now stands 4.2 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 47 puts in the technically neutral range, close to the midpoint between the oversold RSI buy signal of 30 and the overbought sell signal of 70.

There are eight technically attractive, oversold TSX stocks according to RSI this week. The five most oversold companies in the index are Capital Power Corp., Novagold Resources Inc., Boralex Inc., North West Co. Inc and Saputo Inc.

There are five technically vulnerable, overbought stocks trading above the RSI sell signal of 70 this week. These are Onex Corp., Badger Infrastructure Solutions, Advantage Energy Ltd., Air Canada and Celestica Inc.

There is only one S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs – Celestica Inc.

There are six companies making new 52-week lows and they are ranked by market capitalization in the table below. The largest companies hitting new lows are Saputo Inc., Northland Power Inc., Atco Ltd. and Boralex Inc.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
CLS-TCELESTICA INC3.3830.282,372,121,181

Source: Bloomberg

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
SAP-TSAPUTO INC-5.15-15.1111,872,132,757
NPI-TNORTHLAND POWER INC-3.47-26.816,733,981,829
ACO-X-TATCO LTD -CLASS I-2.23-6.914,380,417,803
BLX-TBORALEX INC -A-2.91-11.703,598,868,962
GEI-TGIBSON ENERGY INC-1.10-9.622,917,374,245
JWEL-TJAMIESON WELLNESS INC-4.07-17.051,206,692,803

Source: Bloomberg

Overbought and oversold stocks on the TSX

Oversold StocksRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CPX-TCAPITAL POWER CORP20.8040.4144.55-4.01-10.357.829.98
NG-TNOVAGOLD RESOURCES INC22.025.257.450.00-35.11n/an/a
BLX-TBORALEX INC -A24.0735.0238.83-2.91-11.7042.4434.10
NWC-TNORTH WEST CO INC/THE24.7730.8235.99-1.85-11.4513.0211.55
SAP-TSAPUTO INC25.1728.1534.04-5.15-15.1117.0615.52
ACO-X-TATCO LTD -CLASS I25.5038.5642.48-2.23-6.919.68n/a
CU-TCANADIAN UTILITIES LTD-A26.2233.8236.64-1.43-5.5211.2914.06
NPI-TNORTHLAND POWER INC28.8926.6734.81-3.47-26.8113.7219.61
OVERBOUGHT STOCKS
ONEX-TONEX CORPORATION77.2473.3566.610.3812.86170.01n/a
BDGI-TBADGER INFRASTRUCTURE SOLUTI75.5530.1528.9312.0814.4527.8517.35
AAV-TADVANTAGE ENERGY LTD72.988.948.913.35-5.606.399.25
AC-TAIR CANADA71.0624.8120.17-0.7227.95n/a7.37
CLS-TCELESTICA INC70.6919.8816.003.3830.2811.907.23

Source: Bloomberg

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 01/03/24 4:00pm EST.

SymbolName% changeLast
CPX-T
Capital Power Corp
+0.81%38.66
NG-T
Novagold Res Inc
+1.19%3.39
BLX-T
Boralex Inc
-1.71%29.32
NWC-T
The North West Company Inc
+1.34%40.85
SAP-T
Saputo Inc
-1.56%27.18
ONEX-T
Onex Corp
+0.75%101.83
BDGI-T
Badger Infrastructure Solutions Ltd
-4.42%44.5
AAV-T
Advantage Oil & Gas Ltd
+1.89%10.23
AC-T
Air Canada
0%18.12
CLS-T
Celestica Inc Sv
+6.4%61.37
NPI-T
Northland Power Inc
-0.43%22.9
ACO-X-T
Atco Ltd Cl I NV
+2.56%38.12

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