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The S&P/TSX Composite fell 2.8 per cent for the trading week ending with Friday’s close and is now only 4.4 per cent higher for 2023. The index’s Relative Strength Index (RSI) is now in the lower end of the technically neutral range at 37, closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.

There are 21 technically attractive benchmark constituents trading below the buy signal this week. The five most oversold companies in the index are Storagevault Canada Inc., Canadian Tire Corp., Torex Gold Resources Inc., Sun Life Financial Inc. and Bank of Montreal. Royal Bank of Canada, Canadian Imperial Bank of Commerce and Rogers Communications Inc. are also on the list.

There are only three overbought, technically vulnerable names this week – Suncor Energy Inc., Imperial Oil Ltd. and Chartwell Retirement Residences.

There are also three S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization in the table below. Canadian Natural Resources Ltd. is the largest company hitting a new high, followed by WSP Global Inc. and Cameco Corp.

There are six companies making new 52-week lows – Bank of Nova Scotia, CIBC, Telus Corp., Lithium Americas Corp. , Brookfield Business Partners LP Units.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
WSP-TWSP GLOBAL INC0.4120.4723,482,941,963
CCO-TCAMECO CORP0.3252.9820,343,821,727

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
BNS-TBANK OF NOVA SCOTIA-3.37-1.3974,790,496,970
CM-TCAN IMPERIAL BK OF COMMERCE-4.001.1949,386,435,786
T-TTELUS CORP-3.99-10.2133,194,820,000
LAC-TLITHIUM AMERICAS CORP-8.98-12.743,581,760,000
SVI-TSTORAGEVAULT CANADA INC-7.74-24.681,711,720,604

Overbought and oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
SVI-TSTORAGEVAULT CANADA INC20.344.536.03-7.74-24.68#N-A N-A#N-A N-A
CTC-A-TCANADIAN TIRE CORP-CLASS A22.65155.57165.95-0.8013.2710.7610.38
TXG-TTOREX GOLD RESOURCES INC22.6814.2517.96-7.65-8.364.776.89
SLF-TSUN LIFE FINANCIAL INC22.7664.5165.24-4.924.9511.239.98
BMO-TBANK OF MONTREAL23.72113.26123.75-4.20-4.4410.428.75
IMG-TIAMGOLD CORP23.952.883.43-7.69-17.00#N-A N-A13.49
RY-TROYAL BANK OF CANADA24.07121.47130.41-4.78-1.6712.0010.74
ZZZ-TSLEEP COUNTRY CANADA HOLDING25.3023.6424.73-6.414.718.999.33
LAC-TLITHIUM AMERICAS CORP25.7222.4029.07-8.98-12.74#N-A N-A22.49
QSR-TRESTAURANT BRANDS INTERN25.7893.0892.68-5.188.0129.4221.21
NVEI-TNUVEI CORP-SUBORDINATE VTG26.1823.9343.848.01-30.0638.819.43
ELD-TELDORADO GOLD CORP26.8211.7412.73-4.633.9913.2722.10
BBU-UN-TBROOKFIELD BUSINESS PT-UNNIT27.2421.4324.69-8.07-5.731.94#N-A N-A
IAG-TIA FINANCIAL CORP INC27.7283.3784.45-5.806.917.168.36
PET-TPET VALU HOLDINGS LTD28.1626.4535.701.42-32.0018.9615.30
JWEL-TJAMIESON WELLNESS INC28.8825.6132.35-4.33-26.2117.5314.77
LUN-TLUNDIN MINING CORP29.459.779.54-11.7420.0315.2011.45
BTO-TB2GOLD CORP29.774.074.93-3.10-13.4111.6411.76
RCI-B-TROGERS COMMUNICATIONS INC-B29.7853.5561.85-5.56-14.0713.3111.34
FIL-TFILO MINING CORP29.9420.8322.45-10.98-10.37#N-A N-A#N-A N-A
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
SU-TSUNCOR ENERGY INC74.6544.8442.345.116.958.798.41
IMO-TIMPERIAL OIL LTD71.5476.1268.422.0117.088.478.62

Source: Bloomberg

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