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The S&P/TSX Composite rose another 0.8 per cent and its total return now stands only 0.2 per cent lower for 2020. The benchmark continues to flirt with overbought conditions. The Relative Strength Index (RSI) of 64 is much closer to the RSI sell signal of 70 than the oversold RSI buy signal of 30.

There are no technically attractive, oversold index member stocks this week, which has become the norm. Knight Therapeutics Inc. is closest with an RSI of 32 and Real Matters Inc. is the second most oversold benchmark stock with an RSI five points above the buy signal.

The major banks dominate the list of overbought, technically vulnerable S&P/TSX Composite companies. National Bank is the most overbought company in the index and CIBC and Royal Bank are close behind. TD and BMO are also on the list. Other prominent names in overbought territory include Canadian National Railway Co. and Altus Group Ltd.

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There are three index constituents showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below. Canadian National Railway Co. is the largest company making new highs, followed by Descartes Systems Group and Altus Group Ltd.

There are no index members hitting new 52-week lows.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
CNR-TCANADIAN NATL RAILWAY CO1.4520.6999,714,583,536
DSG-TDESCARTES SYSTEMS GRP/THE5.0143.956,759,486,889
AIF-TALTUS GROUP LTD6.1739.782,119,966,693

This week's overbought stocks

NAMERSIPrice200DMAReturn 1W %Retrun YTD %PE Ratio TTMPE Ratio Fwd
NA-TNATIONAL BANK OF CANADA87.2471.4063.886.971.6411.7812.34
CM-TCAN IMPERIAL BK OF COMMERCE81.83104.7096.656.55-0.4411.0310.33
CNR-TCANADIAN NATL RAILWAY CO78.85140.09119.751.4520.6924.9724.20
RY-TROYAL BANK OF CANADA78.42102.0596.214.062.6313.1212.75
DOO-TBRP INC/CA- SUB VOTING76.7072.6652.866.8020.7633.5117.55
CTC-A-TCANADIAN TIRE CORP-CLASS A75.82138.41123.896.002.2816.9312.28
TCN-TTRICON RESIDENTIAL INC75.0511.009.579.554.4642.5213.56
TD-TTORONTO-DOMINION BANK74.1666.5065.336.75-5.4412.6112.29
BMO-TBANK OF MONTREAL73.6183.7783.109.99-13.5011.1310.99
TOY-TSPIN MASTER CORP-SUB VTG SHR72.9031.6026.923.04-19.3560.4025.39
AIF-TALTUS GROUP LTD72.4352.1741.466.1739.7866.0829.63
SJ-TSTELLA-JONES INC72.0546.2836.16-0.6723.8117.5617.13
LSPD-TLIGHTSPEED POS INC-SUB VOTE72.0544.3632.488.4322.35N/AN/A
BAD-TBADGER DAYLIGHTING LTD71.0337.6331.070.298.2326.6125.19
RCH-TRICHELIEU HARDWARE LTD70.8536.0028.042.3134.3430.28N/A
MTY-TMTY FOOD GROUP INC70.8433.2938.1911.20-39.69N/A21.20
TOU-TTOURMALINE OIL CORP70.6717.4712.98-1.6917.48N/A14.81

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