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The S&P/TSX Composite Index fell 2.7 per cent for the trading week ending with Friday’s close and is now barely positive for the year - 1.8 per cent higher. The benchmark’s Relative Strength Index (RSI) of 30 is right at the oversold buy signal.

There are fully 47 index constituents trading with attractive RSIs below the buy signal of 30. The top of the list is dominated by REITs with Smartcentres REIT, Crombie REIT, First Capital REIT, Northwest Healthcare Properties REIT, RioCan REIT and Interrent REIT all in the top ten most oversold companies.

Unsurprisingly, there are no benchmark stocks trading at overbought levels above the RSI sell signal of 70. There are also no TSX companies showing strong price momentum by hitting new 52-week highs.

There are 21 stocks making new 52-week lows and they are ranked by market capitalization in the table below. The five biggest companies hitting new lows are Enbridge Inc., Bank of Nova Scotia, Pembina Pipeline Corp., Northland Power Inc. and ATCO Ltd.

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
ENB-TENBRIDGE INC-3.50-6.7296,658,052,434
BNS-TBANK OF NOVA SCOTIA-4.43-1.6275,820,483,119
PPL-TPEMBINA PIPELINE CORP-3.50-10.7821,883,267,840
NPI-TNORTHLAND POWER INC-2.48-26.756,756,729,743
ACO-X-TATCO LTD -CLASS I-2.37-5.564,441,668,885
SRU-UN-TSMARTCENTRES REAL ESTATE INV-5.89-10.313,993,548,781
BTE-TBAYTEX ENERGY CORP-10.14-35.863,341,999,228
GEI-TGIBSON ENERGY INC-2.55-11.072,931,263,556
FCR-UN-TFIRST CAPITAL REAL ESTATE IN-9.56-17.182,892,873,427
HR-UN-TH&R REAL ESTATE INV-REIT UTS-4.34-16.452,722,648,288
AP-UN-TALLIED PROPERTIES REAL ESTAT-9.03-17.282,616,380,420
INE-TINNERGEX RENEWABLE ENERGY-6.20-21.522,564,953,513
SPB-TSUPERIOR PLUS CORP-3.95-16.462,301,200,017
TVE-TTAMARACK VALLEY ENERGY LTD-5.88-30.761,706,362,227
NWH-UN-TNORTHWEST HEALTHCARE PROPERT-17.44-30.111,539,975,386
NWC-TNORTH WEST CO INC/THE-3.35-11.491,491,215,397
CRR-UN-TCROMBIE REAL ESTATE INVESTME-7.30-14.701,371,180,417
TLRY-TTILRAY BRANDS INC-5.69-45.781,229,835,797
SII-TSPROTT INC-4.61-5.411,089,258,932
PSI-TPASON SYSTEMS INC-6.26-29.98881,174,257
SDE-TSPARTAN DELTA CORP-14.07-12.86807,414,143

Oversold stocks on the TSX

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
WEED-TCANOPY GROWTH CORP15.680.683.10-18.07-78.34#N/A N/A#N/A N/A
SRU-UN-TSMARTCENTRES REAL ESTATE INV15.7523.3426.73-5.89-10.3112.3311.37
NWC-TNORTH WEST CO INC/THE19.1231.1836.07-3.35-11.4913.1811.69
CRR-UN-TCROMBIE REAL ESTATE INVESTME19.2013.2115.45-7.30-14.7025.33#N/A N/A
FCR-UN-TFIRST CAPITAL REAL ESTATE IN19.4613.6216.21-9.56-17.1863.3011.74
NWH-UN-TNORTHWEST HEALTHCARE PROPERT19.546.399.45-17.44-30.1115.50#N/A N/A
REI-UN-TRIOCAN REAL ESTATE INVST TR20.1718.3920.70-5.93-11.1213.9010.45
RNW-TTRANSALTA RENEWABLES INC21.4610.9912.94-4.851.5531.9114.65
IIP-UN-TINTERRENT REAL ESTATE INVEST21.5112.0912.93-4.80-4.5012.1821.40
SDE-TSPARTAN DELTA CORP21.624.715.05-14.07-12.861.342.68
FR-TFIRST MAJESTIC SILVER CORP22.057.0410.20-4.35-37.48#N/A N/A18.26
NPI-TNORTHLAND POWER INC22.1826.7935.61-2.48-26.7513.7818.72
ACO-X-TATCO LTD -CLASS I22.2239.1242.84-2.37-5.569.82#N/A N/A
BCE-TBCE INC22.4958.8261.66-2.422.1018.2318.53
AP-UN-TALLIED PROPERTIES REAL ESTAT23.2320.5626.04-9.03-17.28#N/A N/A#N/A N/A
NG-TNOVAGOLD RESOURCES INC23.266.087.48-9.52-24.85#N/A N/A#N/A N/A
EDR-TENDEAVOUR SILVER CORP23.313.704.56-5.61-15.53175.4021.63
NVEI-TNUVEI CORP-SUBORDINATE VTG23.7835.8144.13-5.764.0744.9312.42
CU-TCANADIAN UTILITIES LTD-A24.0734.3536.93-1.91-4.0311.4714.28
CHP-UN-TCHOICE PROPERTIES REIT24.2713.1314.17-1.87-9.127.01#N/A N/A
GRT-UN-TGRANITE REAL ESTATE INVESTME24.6173.3877.66-5.137.9810.57#N/A N/A
SII-TSPROTT INC24.6342.0148.14-4.61-5.4144.4121.56
TIXT-TTELUS INTERNATIONAL CDA INC24.7219.3228.61-5.34-27.7242.8611.65
HR-UN-TH&R REAL ESTATE INV-REIT UTS25.469.9111.84-4.34-16.457.9312.16
WPM-TWHEATON PRECIOUS METALS CORP25.5656.2156.09-5.086.9342.4532.61
ENGH-TENGHOUSE SYSTEMS LTD25.7231.4135.28-3.35-11.7420.1121.84
WDO-TWESDOME GOLD MINES LTD26.016.547.87-8.79-12.57#N/A N/A49.17
DIR-UN-TDREAM INDUSTRIAL REAL ESTATE26.1213.0113.07-4.0613.5817.75#N/A N/A
SAP-TSAPUTO INC26.1729.6334.29-2.89-10.6417.9616.33
PRMW-TPRIMO WATER CORP26.8416.5819.66-4.77-20.2232.8016.01
MFC-TMANULIFE FINANCIAL CORP26.9024.0224.64-4.072.272.497.17
AX-UN-TARTIS REAL ESTATE INVESTMENT27.386.638.60-8.04-24.05#N/A N/A6.56
SPB-TSUPERIOR PLUS CORP27.459.2310.44-3.95-16.46149.6011.83
EMA-TEMERA INC27.4553.3854.75-1.775.7412.2515.84
INE-TINNERGEX RENEWABLE ENERGY27.7212.5615.45-6.20-21.5223.73#N/A N/A
SEA-TSEABRIDGE GOLD INC28.7015.9216.98-4.10-6.35#N/A N/A#N/A N/A
PPL-TPEMBINA PIPELINE CORP28.8039.7644.81-3.50-10.7811.8814.52
CPX-TCAPITAL POWER CORP28.8542.5344.96-4.41-6.928.2310.10
FNV-TFRANCO-NEVADA CORP28.95183.59187.40-4.50-0.0541.1936.28
OGC-TOCEANAGOLD CORP28.972.612.67-5.091.6916.698.16
FVI-TFORTUNA SILVER MINES INC29.204.054.57-8.37-20.43#N/A N/A12.31
PAAS-TPAN AMERICAN SILVER CORP29.2519.0522.33-6.20-12.82#N/A N/A25.81
FTS-TFORTIS INC29.3955.4355.72-1.984.3418.8018.80
TLRY-TTILRAY BRANDS INC29.551.993.90-5.69-45.78#N/A N/A#N/A N/A
BTE-TBAYTEX ENERGY CORP29.713.905.72-10.14-35.8616.593.87
PLC-TPARK LAWN CORP29.7522.3925.79-5.21-13.0324.3115.95
TRP-TTC ENERGY CORP29.9351.8156.77-3.29-2.327.6812.45

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 30/05/24 4:00pm EDT.

SymbolName% changeLast
ENB-T
Enbridge Inc
-0.02%48.92
BNS-T
Bank of Nova Scotia
+0.96%64.12
PPL-T
Pembina Pipeline Corp
-0.64%49.58
NPI-T
Northland Power Inc
+1.87%23.48
ACO-X-T
Atco Ltd Cl I NV
0%39.22
SRU-UN-T
Smartcentres Real Estate Investment Trust
+1.04%22.31
NWH-UN-T
Northwest Healthcare Prop REIT
+1.2%5.06
CRR-UN-T
Crombie Real Estate Investment Trust
+0.72%12.62
FCR-UN-T
First Capital REIT Units
+0.96%14.67

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