The week’s most oversold and overbought stocks on the TSX

Published August 14, 2020

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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-T	IVANHOE MINES LTD-CL A	6.12	22.35	6131258728
AIF-T	ALTUS GROUP LTD	14.17	32.21	2001199916
RCH-T	RICHELIEU HARDWARE LTD	0.47	26.42	1945179857

This week's overbought and oversold stocks on the TSX

	OVERSOLD	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
CUF-UN-T	COMINAR REAL ESTATE INV-TR U	29.76	7.00	11.06	-11.85	-47.78	7.12	7.53

	OVERBOUGHT	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
RBA-T	RITCHIE BROS AUCTIONEERS	88.31	82.40	56.39	25.25	47.74	45.29	40.43
SJ-T	STELLA-JONES INC	80.09	45.45	35.73	4.86	21.80	17.24	16.85
TOU-T	TOURMALINE OIL CORP	79.43	16.94	12.71	6.24	12.17	#N/A N/A	19.47
IVN-T	IVANHOE MINES LTD-CL A	78.87	5.13	3.46	6.12	22.35	#N/A N/A	#N/A N/A
AIF-T	ALTUS GROUP LTD	76.48	49.32	40.82	14.17	32.21	62.47	28.01
BAD-T	BADGER DAYLIGHTING LTD	76.01	36.92	31.05	0.47	5.35	26.11	24.56
PBH-T	PREMIUM BRANDS HOLDINGS CORP	75.17	98.93	88.08	0.06	10.36	45.66	30.01
EIF-T	EXCHANGE INCOME CORP	74.97	31.88	33.53	16.60	-24.85	22.91	18.34
ZZZ-T	SLEEP COUNTRY CANADA HOLDING	74.81	20.65	17.09	3.00	2.89	18.85	14.82
AFN-T	AG GROWTH INTERNATIONAL INC	74.50	36.97	34.54	15.85	-19.79	66.05	16.14
ATA-T	ATS AUTOMATION TOOLING SYS	73.16	20.42	19.24	14.89	-4.95	28.14	21.25
CIX-T	CI FINANCIAL CORP	72.73	19.40	18.81	2.25	-7.99	8.12	8.15
ECN-T	ECN CAPITAL CORP	72.49	5.24	4.52	9.05	12.07	37.65	10.35
GWO-T	GREAT-WEST LIFECO INC	72.05	27.21	27.82	5.10	-16.04	#N/A N/A	9.63
QBR-B-T	QUEBECOR INC -CL B	71.98	33.00	31.21	4.60	1.53	15.26	14.35
FRU-T	FREEHOLD ROYALTIES LTD	71.19	4.65	5.15	11.65	-33.61	83.84	#N/A N/A
ARX-T	ARC RESOURCES LTD	71.16	6.66	5.92	4.82	-17.45	#N/A N/A	#N/A N/A
CNR-T	CANADIAN NATL RAILWAY CO	70.99	135.78	118.90	2.37	16.61	24.20	23.63
GIL-T	GILDAN ACTIVEWEAR INC	70.99	25.65	28.15	7.93	-32.81	#N/A N/A	28.85
PKI-T	PARKLAND CORP	70.68	40.41	38.87	8.45	-14.04	20.68	59.25
GEI-T	GIBSON ENERGY INC	70.42	24.60	22.87	0.37	-3.81	20.06	21.94
NTR-T	NUTRIEN LTD	70.33	51.27	52.85	8.96	-15.58	23.60	20.27
SLF-T	SUN LIFE FINANCIAL INC	70.17	56.62	54.13	4.71	-2.54	14.63	10.82

Source: Bloomberg

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This week's overbought and oversold stocks on the TSX

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