The S&P/TSX Composite endured a difficult trading week ending with Thursday’s close, falling 3.7 per cent.
Year to date, the index is lower by 5.6 per cent once dividend payouts are counted. In terms of Relative Strength Index (RSI), the benchmark as a whole is almost oversold – the RSI reading of 33 is barely above the buy signal of 30.
There are 18 index stocks trading with oversold, technically attractive RSIs below the buy signal.
Open Text Corp is the most oversold stock in the benchmark, followed by Oceangold Corp. Next is Allied Properties REIT, the first of a number of real estate firms on the list. Brookfield Asset Management, InterRent REIT, Killam Apartment REIT and Choice Property REIT are also included.
Genworth MI Canada Inc is the only overbought, technically vulnerable stock trading above the RSI sell signal of 70.
There are two S&P/TSX Composite constituents showing strong price momentum by hitting new 52-week highs – First Quantum Minerals Ltd. and Firstservice Corp. There are no index stocks making new 52-week lows.
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