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The S&P/TSX Composite enjoyed a strong trading week ending with Thursday’s close, climbing 2.3 per cent. The benchmark is now only 0.5 per cent lower for 2020.

In technical terms, the index now sits in the high end of the neutral range with a Relative Strength Index (RSI) of 58 that is closer to the overbought sell signal of 70 than the oversold RSI buy signal of 30.

There are three oversold, technically attractive benchmark constituents this week.

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Cineplex Inc., a frequent member on this list thanks to the pandemic, is the most oversold stock in the index and it’s joined by Knight Therapeutics Inc. and Maple Leaf Foods Inc.

There are 14 overbought, extended index members trading above the RSI sell signal of 70. Boralex Inc. is the most overbought company, followed by Canada Goose Holdings Inc., Innergex Renewable Energy Inc., Algonquin Power & Utilities and TransAlta Renewables Inc.. Brookfield Property Partners, Hydro One Ltd. and Magna International Inc. are also on the list.

There are six S&P/TSX Composite stocks showing strong price momentum by making new 52-week highs, and they are ranked by market capitalization in the table below.

Hydro One Ltd. is the largest company making new highs. First Service Corp., BRP Inc., Innergex Renewable Energy Inc., CargoJet Inc. and Richelieu Hardware Ltd. are the other stocks.

Stocks reaching 52-week highs

Return 1W %Return YTD %Market Cap
H-THYDRO ONE LTD4.1321.8817,783,319,741
FSV-TFIRSTSERVICE CORP1.2348.867,970,809,360
DOO-TBRP INC/CA- SUB VOTING4.7527.816,736,730,713
INE-TINNERGEX RENEWABLE ENERGY5.8556.534,499,216,681
CJT-TCARGOJET INC9.64107.803,451,943,090
RCH-TRICHELIEU HARDWARE LTD11.6846.552,269,607,681

This week's overbought and oversold stocks

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CGX-TCINEPLEX INC21.064.9516.90-32.10-85.31#N/A N/A#N/A N/A
GUD-TKNIGHT THERAPEUTICS INC25.775.596.95-3.29-26.25#N/A N/A#N/A N/A
MFI-TMAPLE LEAF FOODS INC27.4425.1326.30-7.03-0.9937.4220.38
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
BLX-TBORALEX INC -A83.1841.4030.014.5572.02198.6380.70
GOOS-TCANADA GOOSE HOLDINGS INC81.3047.0534.396.860.0945.1769.60
INE-TINNERGEX RENEWABLE ENERGY79.7925.7020.035.8556.53#N/A N/A73.43
AQN-TALGONQUIN POWER & UTILITIES78.1420.5618.955.9215.7822.9922.45
RNW-TTRANSALTA RENEWABLES INC77.2217.7415.334.6019.8740.3620.07
CJT-TCARGOJET INC76.47213.57139.659.64107.80#N/A N/A44.28
BPY-UN-TBROOKFIELD PROPERTY PARTNERS76.4218.3417.049.30-16.45#N/A N/A#N/A N/A
MX-TMETHANEX CORP76.1437.3430.5518.46-23.17#N/A N/A#N/A N/A
APHA-TAPHRIA INC75.327.495.6727.6010.47#N/A N/A#N/A N/A
RCH-TRICHELIEU HARDWARE LTD74.9839.5929.2511.6846.5529.13#N/A N/A
RBA-TRITCHIE BROS AUCTIONEERS72.9584.0060.774.4352.7546.5639.58
NPI-TNORTHLAND POWER INC72.5541.7032.252.6157.6121.5725.11
H-THYDRO ONE LTD71.9029.7226.574.1321.889.2821.23
MG-TMAGNA INTERNATIONAL INC70.1869.6660.6512.520.4836.939.72

Source: Bloomberg

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