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

Published October 23, 2020

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The S&P/TSX Composite fell 1.3 per cent for the trading week ending with Thursday’s close and sits lower by just over two per cent for 2020.

In terms of Relative Strength Index (RSI) , the benchmark is in technically neutral territory with a reading of 48 that is only marginally closer to the oversold, RSI buy signal of 30 than the overbought sell signal of 70.

There are four oversold, technically attractive index members this week with RSIs below 30. Cogeco Communications Inc. is the most oversold company in the benchmark. It’s joined by Maple Leaf Foods Inc., Westshore Terminals Investment Corp. and Allied Properties REIT.

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There are 14 S&P/TSX Composite companies trading at technically vulnerable RSI levels above the sell signal of 70. Two cyclical stocks, Toromont Industries Ltd. and Linamar Corp, are the most overbought this week. Other notable names on the list include CAE Inc., Canadian Tire Corp., Canada Goose Holdings Inc. and Brookfield Property Partners.

There are four benchmark constituents showing strong price momentum by hitting new 52 week highs and they are sorted by market capitalization below.

Toromont Industries Ltd. is the largest companies making new highs, followed by Tourmaline Oil Corp., New Gold Inc., and Sleep Country Canada Holdings Inc.

There are no index stocks hitting new 52 week lows.

Stocks hitting 52-week highs

		Return 1W %	Return YTD %	Market Cap
TIH-T	TOROMONT INDUSTRIES LTD	5.01	27.06	7,281,104,429
TOU-T	TOURMALINE OIL CORP	8.89	27.80	5,106,858,501
NGD-T	NEW GOLD INC	6.12	156.52	1,994,271,673
ZZZ-T	SLEEP COUNTRY CANADA HOLDING	12.18	24.66	915,280,030

This week's overbought and oversold stocks

	OVERSOLD STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
CCA-T	COGECO COMMUNICATIONS INC	27.74	97.55	102.86	-7.21	-12.34	13.21	12.02
MFI-T	MAPLE LEAF FOODS INC	29.14	24.70	26.27	-1.48	-2.69	36.78	20.18
WTE-T	WESTSHORE TERMINALS INVESTME	29.69	13.85	15.59	-3.55	-24.51	6.50	8.28
AP-UN-T	ALLIED PROPERTIES REAL ESTAT	29.80	33.58	43.71	-3.73	-33.62	21.74	#N/A N/A

	OVERBOUGHT STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
TIH-T	TOROMONT INDUSTRIES LTD	84.47	88.52	69.74	5.01	27.06	29.70	26.46
LNR-T	LINAMAR CORP	81.76	47.47	38.67	6.84	-2.67	14.13	9.95
ZZZ-T	SLEEP COUNTRY CANADA HOLDING	79.84	24.96	17.32	12.18	24.66	22.79	17.11
EFN-T	ELEMENT FLEET MANAGEMENT COR	77.79	13.07	10.68	13.06	19.47	41.96	14.87
CAE-T	CAE INC	77.25	23.26	24.63	11.72	-32.05	24.68	50.24
CTC-A-T	CANADIAN TIRE CORP-CLASS A	75.94	154.53	121.96	7.40	13.74	18.90	13.39
MG-T	MAGNA INTERNATIONAL INC	75.56	73.41	60.60	5.60	5.88	38.98	10.05
CJT-T	CARGOJET INC	75.35	226.15	145.16	-1.67	120.04	#N/A N/A	45.16
ARX-T	ARC RESOURCES LTD	74.72	7.12	5.76	6.11	-9.08	#N/A N/A	44.78
GOOS-T	CANADA GOOSE HOLDINGS INC	73.42	47.45	34.35	2.06	0.94	45.55	67.79
MX-T	METHANEX CORP	73.25	39.95	29.97	7.91	-17.80	#N/A N/A	#N/A N/A
BPY-UN-T	BROOKFIELD PROPERTY PARTNERS	71.56	18.83	16.77	10.50	-14.22	#N/A N/A	#N/A N/A
VII-T	SEVEN GENERATIONS ENERGY - A	71.40	4.78	4.02	17.44	-43.57	#N/A N/A	17.26
TOU-T	TOURMALINE OIL CORP	70.19	18.86	13.52	8.89	27.80	#N/A N/A	16.33

Source: Bloomberg

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