The S&P/TSX Composite eased higher by 0.23 per cent for the trading week ending with Friday’s close and now stands 7.4 per cent higher year to date. Relative Strength Index (RSI) of 67 for the index leaves it close to the overbought sell signal of 70.
There are three index constituents trading at attractive oversold levels below the RSI buy signal of 30. Definity Financial Corp is the most oversold stock in the benchmark, followed by Northland Power Inc. and Metro Inc.
There are fully 40 S&P/TSX Composite stocks trading at technically vulnerable RSIs above the sell signal of 70. The five most overbought companies are EQB Inc., MTY Food Group Inc., BRP Inc., Dream Industrial REIT, and Algoma Steel Group Inc.
There are 20 TSX stocks showing strong price momentum by making new 52-week highs, The largest companies hitting new highs are Constellation Software Inc., CGI Inc., TFI International Inc., BRP Inc. and Descartes Systems Group.
Northland Power Inc. is the sole company hitting new 52-week lows.