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The S&P/TSX Composite got thumped during the trading week ending with Friday’s close, falling 1.7 per cent, and now stands 4.0 per cent higher for 2021.

According to Relative Strength Index (RSI), the benchmark remains in the technically neutral range with a reading of 47 that is close to the midway point between the oversold buy signal of 30 and the overbought RSI sell signal of 70.

The list of oversold, technically attractive index stocks is dominated by precious metals and utilities stocks. Innergex Renewable Energy iNC. is the most oversold company in the benchmark with Barrick Gold Corp., Algonquin Power and Utilities, Fortis Inc. and Kirkland Lake Gold Ltd right behind. Agnico Eagle Mines Ltd., Hydro One Ltd. and Rogers Communications Inc. are also represented.

As for overbought,  technically vulnerable stocks in the S&P/TSX Composite Inter Pipeline Ltd. leads the way, followed by National Bank of Canada, Great-West Lifeco Inc., Frontera Energy Corp., Canadian Western Bank and Cineplex Inc. Finning International Inc., Aecon Group Inc. and Canadian Imperial Bank of Commerce are also on the list.

There are no index stocks hitting either 52-week highs or 52-week lows. This happened last week, but it’s still relatively rare, and likely indicative of widespread market rotations between sectors.

Last week's overbought and oversold TSX stocks

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
INE-TINNERGEX RENEWABLE ENERGY22.1524.1923.78-6.59-12.02#N/A N/A85.48
ABX-TBARRICK GOLD CORP23.2224.1433.93-4.27-17.7116.9713.69
AQN-TALGONQUIN POWER & UTILITIES24.6120.2119.71-9.59-5.9224.3821.41
FTS-TFORTIS INC24.8549.7752.73-2.60-4.8519.2017.82
KL-TKIRKLAND LAKE GOLD LTD25.0141.9658.09-7.70-20.8710.618.77
NPI-TNORTHLAND POWER INC25.1942.6840.11-12.52-7.0724.9226.26
PRMW-TPRIMO WATER CORP26.0718.3518.95-8.22-8.7794.6631.39
AEM-TAGNICO EAGLE MINES LTD27.0371.5594.47-5.28-20.2129.1116.72
H-THYDRO ONE LTD27.3627.2828.03-3.64-5.699.2217.88
SSRM-TSSR MINING INC28.5017.9925.68-4.94-29.3030.287.29
OGC-TOCEANAGOLD CORP29.151.852.56-3.16-25.20#N/A N/A10.34
BTO-TB2GOLD CORP29.235.607.75-7.51-22.309.289.03
YRI-TYAMANA GOLD INC29.245.187.29-8.99-30.4016.0710.30
RCI-B-TROGERS COMMUNICATIONS INC-B29.5455.5956.85-1.15-6.9716.6214.92
FNV-TFRANCO-NEVADA CORP29.95136.13180.76-2.93-14.6243.8735.54
RSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
IPL-TINTER PIPELINE LTD83.5617.9113.240.2251.6823.9920.97
NA-TNATIONAL BANK OF CANADA83.0780.5267.606.7011.8912.2210.79
GWO-TGREAT-WEST LIFECO INC77.6533.2427.113.867.31#N/A N/A10.62
FEC-TFRONTERA ENERGY CORP75.986.393.327.3096.88#N/A N/A#N/A N/A
CWB-TCANADIAN WESTERN BANK75.6233.5726.5812.8916.8811.3610.80
CGX-TCINEPLEX INC75.1614.009.411.1049.08#N/A N/A#N/A N/A
EQB-TEQUITABLE GROUP INC74.80138.2586.3711.4434.2810.689.22
FTT-TFINNING INTERNATIONAL INC73.6333.9922.894.6623.6329.4820.14
EFX-TENERFLEX LTD72.868.916.036.7233.238.7930.51
CM-TCAN IMPERIAL BK OF COMMERCE72.59118.96101.942.247.9212.1310.14
ARE-TAECON GROUP INC71.9018.9815.347.4112.4741.1219.09
CHR-TCHORUS AVIATION INC71.754.433.1312.6013.5115.159.15
BHC-TBAUSCH HEALTH COS INC70.6740.3726.08-0.6051.65234.227.27
STN-TSTANTEC INC70.2150.7442.053.8221.2926.6921.58
LB-TLAURENTIAN BANK OF CANADA70.1335.5729.698.8411.7312.4212.12

Source: Bloomberg

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