Please log in to listen to this story. Also available in French and Mandarin.Log InCreate Free Account
Getting audio file ...
Audio for this article is not available at this time.
This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
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.
Story continues below advertisement
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.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.
Your Globe
Build your personal news feed
Follow topics and authors relevant to your reading interests.
Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.
If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .
Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.
If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .