The S&P/TSX Composite rose 0.6 per cent for the trading week ending with Friday’s close and stands 7.8 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 68 leaves it on the cusp of overbought territory, hovering just below the RSI sell signal of 70.
There are five index constituents trading with oversold, attractive RSIs below the buy signal of 30. In order, these are Canopy Growth Corp., Dye and Durham Ltd., Artis REIT, GoEasy Ltd. and Converge Technology Solutions.
There are 14 overbought, technically vulnerable index stocks this week, led by Bellus Health Inc., Home Capital Group Inc., Great-West Lifeco Inc., Dollarama Inc. and Restaurant Brands International Inc.
There are nine S&P/TSX Composite companies showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The five largest companies making new highs are Thomson Reuters Corp., Waste Connections Inc., Restaurant Brands International Great-West Lifeco and WSP Global.
There are two stocks making new 52-week lows – Tilray Brands Inc. and Converge Technology Solutions.
Scott Barlow