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-T ENBRIDGE INC -3.50 -6.72 96,658,052,434 BNS-T BANK OF NOVA SCOTIA -4.43 -1.62 75,820,483,119 PPL-T PEMBINA PIPELINE CORP -3.50 -10.78 21,883,267,840 NPI-T NORTHLAND POWER INC -2.48 -26.75 6,756,729,743 ACO-X-T ATCO LTD -CLASS I -2.37 -5.56 4,441,668,885 SRU-UN-T SMARTCENTRES REAL ESTATE INV -5.89 -10.31 3,993,548,781 BTE-T BAYTEX ENERGY CORP -10.14 -35.86 3,341,999,228 GEI-T GIBSON ENERGY INC -2.55 -11.07 2,931,263,556 FCR-UN-T FIRST CAPITAL REAL ESTATE IN -9.56 -17.18 2,892,873,427 HR-UN-T H&R REAL ESTATE INV-REIT UTS -4.34 -16.45 2,722,648,288 AP-UN-T ALLIED PROPERTIES REAL ESTAT -9.03 -17.28 2,616,380,420 INE-T INNERGEX RENEWABLE ENERGY -6.20 -21.52 2,564,953,513 SPB-T SUPERIOR PLUS CORP -3.95 -16.46 2,301,200,017 TVE-T TAMARACK VALLEY ENERGY LTD -5.88 -30.76 1,706,362,227 NWH-UN-T NORTHWEST HEALTHCARE PROPERT -17.44 -30.11 1,539,975,386 NWC-T NORTH WEST CO INC/THE -3.35 -11.49 1,491,215,397 CRR-UN-T CROMBIE REAL ESTATE INVESTME -7.30 -14.70 1,371,180,417 TLRY-T TILRAY BRANDS INC -5.69 -45.78 1,229,835,797 SII-T SPROTT INC -4.61 -5.41 1,089,258,932 PSI-T PASON SYSTEMS INC -6.26 -29.98 881,174,257 SDE-T SPARTAN DELTA CORP -14.07 -12.86 807,414,143
Oversold stocks on the TSX
OVERSOLD STOCKS RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd WEED-T CANOPY GROWTH CORP 15.68 0.68 3.10 -18.07 -78.34 #N/A N/A #N/A N/A SRU-UN-T SMARTCENTRES REAL ESTATE INV 15.75 23.34 26.73 -5.89 -10.31 12.33 11.37 NWC-T NORTH WEST CO INC/THE 19.12 31.18 36.07 -3.35 -11.49 13.18 11.69 CRR-UN-T CROMBIE REAL ESTATE INVESTME 19.20 13.21 15.45 -7.30 -14.70 25.33 #N/A N/A FCR-UN-T FIRST CAPITAL REAL ESTATE IN 19.46 13.62 16.21 -9.56 -17.18 63.30 11.74 NWH-UN-T NORTHWEST HEALTHCARE PROPERT 19.54 6.39 9.45 -17.44 -30.11 15.50 #N/A N/A REI-UN-T RIOCAN REAL ESTATE INVST TR 20.17 18.39 20.70 -5.93 -11.12 13.90 10.45 RNW-T TRANSALTA RENEWABLES INC 21.46 10.99 12.94 -4.85 1.55 31.91 14.65 IIP-UN-T INTERRENT REAL ESTATE INVEST 21.51 12.09 12.93 -4.80 -4.50 12.18 21.40 SDE-T SPARTAN DELTA CORP 21.62 4.71 5.05 -14.07 -12.86 1.34 2.68 FR-T FIRST MAJESTIC SILVER CORP 22.05 7.04 10.20 -4.35 -37.48 #N/A N/A 18.26 NPI-T NORTHLAND POWER INC 22.18 26.79 35.61 -2.48 -26.75 13.78 18.72 ACO-X-T ATCO LTD -CLASS I 22.22 39.12 42.84 -2.37 -5.56 9.82 #N/A N/A BCE-T BCE INC 22.49 58.82 61.66 -2.42 2.10 18.23 18.53 AP-UN-T ALLIED PROPERTIES REAL ESTAT 23.23 20.56 26.04 -9.03 -17.28 #N/A N/A #N/A N/A NG-T NOVAGOLD RESOURCES INC 23.26 6.08 7.48 -9.52 -24.85 #N/A N/A #N/A N/A EDR-T ENDEAVOUR SILVER CORP 23.31 3.70 4.56 -5.61 -15.53 175.40 21.63 NVEI-T NUVEI CORP-SUBORDINATE VTG 23.78 35.81 44.13 -5.76 4.07 44.93 12.42 CU-T CANADIAN UTILITIES LTD-A 24.07 34.35 36.93 -1.91 -4.03 11.47 14.28 CHP-UN-T CHOICE PROPERTIES REIT 24.27 13.13 14.17 -1.87 -9.12 7.01 #N/A N/A GRT-UN-T GRANITE REAL ESTATE INVESTME 24.61 73.38 77.66 -5.13 7.98 10.57 #N/A N/A SII-T SPROTT INC 24.63 42.01 48.14 -4.61 -5.41 44.41 21.56 TIXT-T TELUS INTERNATIONAL CDA INC 24.72 19.32 28.61 -5.34 -27.72 42.86 11.65 HR-UN-T H&R REAL ESTATE INV-REIT UTS 25.46 9.91 11.84 -4.34 -16.45 7.93 12.16 WPM-T WHEATON PRECIOUS METALS CORP 25.56 56.21 56.09 -5.08 6.93 42.45 32.61 ENGH-T ENGHOUSE SYSTEMS LTD 25.72 31.41 35.28 -3.35 -11.74 20.11 21.84 WDO-T WESDOME GOLD MINES LTD 26.01 6.54 7.87 -8.79 -12.57 #N/A N/A 49.17 DIR-UN-T DREAM INDUSTRIAL REAL ESTATE 26.12 13.01 13.07 -4.06 13.58 17.75 #N/A N/A SAP-T SAPUTO INC 26.17 29.63 34.29 -2.89 -10.64 17.96 16.33 PRMW-T PRIMO WATER CORP 26.84 16.58 19.66 -4.77 -20.22 32.80 16.01 MFC-T MANULIFE FINANCIAL CORP 26.90 24.02 24.64 -4.07 2.27 2.49 7.17 AX-UN-T ARTIS REAL ESTATE INVESTMENT 27.38 6.63 8.60 -8.04 -24.05 #N/A N/A 6.56 SPB-T SUPERIOR PLUS CORP 27.45 9.23 10.44 -3.95 -16.46 149.60 11.83 EMA-T EMERA INC 27.45 53.38 54.75 -1.77 5.74 12.25 15.84 INE-T INNERGEX RENEWABLE ENERGY 27.72 12.56 15.45 -6.20 -21.52 23.73 #N/A N/A SEA-T SEABRIDGE GOLD INC 28.70 15.92 16.98 -4.10 -6.35 #N/A N/A #N/A N/A PPL-T PEMBINA PIPELINE CORP 28.80 39.76 44.81 -3.50 -10.78 11.88 14.52 CPX-T CAPITAL POWER CORP 28.85 42.53 44.96 -4.41 -6.92 8.23 10.10 FNV-T FRANCO-NEVADA CORP 28.95 183.59 187.40 -4.50 -0.05 41.19 36.28 OGC-T OCEANAGOLD CORP 28.97 2.61 2.67 -5.09 1.69 16.69 8.16 FVI-T FORTUNA SILVER MINES INC 29.20 4.05 4.57 -8.37 -20.43 #N/A N/A 12.31 PAAS-T PAN AMERICAN SILVER CORP 29.25 19.05 22.33 -6.20 -12.82 #N/A N/A 25.81 FTS-T FORTIS INC 29.39 55.43 55.72 -1.98 4.34 18.80 18.80 TLRY-T TILRAY BRANDS INC 29.55 1.99 3.90 -5.69 -45.78 #N/A N/A #N/A N/A BTE-T BAYTEX ENERGY CORP 29.71 3.90 5.72 -10.14 -35.86 16.59 3.87 PLC-T PARK LAWN CORP 29.75 22.39 25.79 -5.21 -13.03 24.31 15.95 TRP-T TC ENERGY CORP 29.93 51.81 56.77 -3.29 -2.32 7.68 12.45
Source: Bloomberg
Scott Barlow