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The S&P/TSX Composite eased lower by 0.22 per cent for the trading week ending with Thursday’s close and stands just slightly negative, by 1.1 per cent, for 2020.

The benchmark’s Relative Strength Index (RSI) reading of 64 places it in the technically neutral range although far closer to the overbought RSI sell signal of 70 than the oversold buy signal of 30.

There is one index member company – Cominar REIT – trading in officially oversold territory below the RSI buy signal of 30 this week. Morneau Shepell Inc. is the next most oversold stock but well above the buy signal with an RSI of 34.

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There are 23 overbought, technically vulnerable S&P/TSX Composite constituents according to RSI this week.

Ritchie Brothers Auctioneers is the most overbought stock in the index followed by Stella-Jones Inc., Tourmaline Corp. and Ivanhoe Mines Ltd.. Other prominent overbought names include ATS Automation Tooling Systems, CI Financial Corp., Canadian National Railway Co. and Sun Life Financial.

There are three TSX companies showing strong price momentum by hitting new 52-week highs – Ivanhoe Mines, Altus Group Ltd. and Richelieu Hardware Ltd. There are no index stocks making new lows this week.

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
IVN-TIVANHOE MINES LTD-CL A6.1222.356131258728
AIF-TALTUS GROUP LTD14.1732.212001199916
RCH-TRICHELIEU HARDWARE LTD0.4726.421945179857

This week's overbought and oversold stocks on the TSX

OVERSOLDRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CUF-UN-TCOMINAR REAL ESTATE INV-TR U29.767.0011.06-11.85-47.787.127.53
OVERBOUGHTRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
RBA-TRITCHIE BROS AUCTIONEERS88.3182.4056.3925.2547.7445.2940.43
SJ-TSTELLA-JONES INC80.0945.4535.734.8621.8017.2416.85
TOU-TTOURMALINE OIL CORP79.4316.9412.716.2412.17#N/A N/A19.47
IVN-TIVANHOE MINES LTD-CL A78.875.133.466.1222.35#N/A N/A#N/A N/A
AIF-TALTUS GROUP LTD76.4849.3240.8214.1732.2162.4728.01
BAD-TBADGER DAYLIGHTING LTD76.0136.9231.050.475.3526.1124.56
PBH-TPREMIUM BRANDS HOLDINGS CORP75.1798.9388.080.0610.3645.6630.01
EIF-TEXCHANGE INCOME CORP74.9731.8833.5316.60-24.8522.9118.34
ZZZ-TSLEEP COUNTRY CANADA HOLDING74.8120.6517.093.002.8918.8514.82
AFN-TAG GROWTH INTERNATIONAL INC74.5036.9734.5415.85-19.7966.0516.14
ATA-TATS AUTOMATION TOOLING SYS73.1620.4219.2414.89-4.9528.1421.25
CIX-TCI FINANCIAL CORP72.7319.4018.812.25-7.998.128.15
ECN-TECN CAPITAL CORP72.495.244.529.0512.0737.6510.35
GWO-TGREAT-WEST LIFECO INC72.0527.2127.825.10-16.04#N/A N/A9.63
QBR-B-TQUEBECOR INC -CL B71.9833.0031.214.601.5315.2614.35
FRU-TFREEHOLD ROYALTIES LTD71.194.655.1511.65-33.6183.84#N/A N/A
ARX-TARC RESOURCES LTD71.166.665.924.82-17.45#N/A N/A#N/A N/A
CNR-TCANADIAN NATL RAILWAY CO70.99135.78118.902.3716.6124.2023.63
GIL-TGILDAN ACTIVEWEAR INC70.9925.6528.157.93-32.81#N/A N/A28.85
PKI-TPARKLAND CORP70.6840.4138.878.45-14.0420.6859.25
GEI-TGIBSON ENERGY INC70.4224.6022.870.37-3.8120.0621.94
NTR-TNUTRIEN LTD70.3351.2752.858.96-15.5823.6020.27
SLF-TSUN LIFE FINANCIAL INC70.1756.6254.134.71-2.5414.6310.82

Source: Bloomberg

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