The S&P/TSX Composite climbed another 0.5 per cent for the trading week ending with Thursday’s close and sits only 0.6 per cent lower year to date.
Technically speaking, the benchmark’s Relative Strength Index (RSI) of 64 leaves it in the neutral range, although much closer to the overbought RSI sell signal of 70 than the oversold buy signal of 30.
Once again, there are no benchmark companies trading at oversold, technically attractive levels with RSIs below the buy signal of 30. Aurora Cannabis Inc. and Cominar REIT are closest, but, with RSIs of 35, they’re not really on the precipice of buy territory.
There are 20 index constituents trading at overbought, technically vulnerable levels with RSI readings above the sell signal of 70.
Ritchie Brothers Auctioneers is the most extended company in the benchmark, followed by Tourmaline Oil Corp., Interfor Corp., Stella-Jones Inc., West Fraser Timber Co. Ltd and Dollarama Inc. Canadian National Railway Co., National Bank of Canada, Thomson Reuters Corp. and Hudbay Minerals are also on the list.
There are 10 S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs – they are ranked by market capitalization below. Canadian National Railway Co., Brookfield Renewable Partners LP and Dollarama are the three largest companies making new highs this week.
There are no benchmark companies making new 52-week lows.
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