The S&P/TSX Composite’s total return jumped 5.8 per cent for the trading week ending with Friday’s close and the index’s year to date appreciation stands at 5.2 per cent. In terms of technical analysis, the benchmark’s Relative Strength Index (RSI) of 62 leaves it in neutral territory although far closer to the overbought sell signal of 70 than the oversold RSI buy signal at 30.
There are four technically attractive index constituents trading below the buy signal this week – Canada Goose Holdings Inc. (GOOS-T), First Quantum Minerals Ltd. (FM-T), ATS Corp. (ATS-T) and Ero Copper Corp. (ERO-T).
There are 15 benchmark companies with technically vulnerable RSIs above the 70 sell signal this week. The five most overbought stocks are Dundee Precious Metals Inc., Peyto Exploration and Development Corp., Centerra Gold Inc., Gildan Activewear Inc. and Badger Infrastructure Solutions Ltd..
There are nine stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The five biggest companies making new highs are Fairfax Financial Holdings Ltd., ARC Resources Ltd., Empire Co Ltd., Kinross Gold Corp. and Altagas Ltd.
There are no index stocks making new 52-week lows.