The S&P/TSX Composite jumped 2.9 per cent for the trading week ending with Friday’s close and stands 8.9 per cent higher for the year. Relative Strength Index (RSI) at 63 leaves the index in technically neutral territory although much closer to the overbought sell signal at 70 than the oversold RSI buy signal of 30.
The are four index constituents trading with attractive RSIs below the 30 buy signal. In order, these are Air Canada, MTY Food Group Inc., Laurentian Bank of Canada and Stelco Holdings Inc.
There are 12 stocks trading with technically vulnerable RSIs above the 70 sell signal. The five most overbought are Cameco Corp., Nexen Energy Ltd., Energy Fuels Inc., North West Co. Inc. and Dollarama Inc..
There are 10 S&P/TSX Composite companies showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization in the table below. The largest companies making new highs are Constellation Software Inc., Great-West Lifeco Inc., Fairfax Financial Holdings Ltd. and Cameco Corp.
There are no stocks making new 52-week lows.