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

Published November 13, 2020

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The S&P/TSX Composite climbed another 1.8 per cent for the trading week ending with Thursday’s close and stands almost exactly flat for a tumultuous 2020 (total return is positive by 0.001393 per cent).

In terms of technical analysis, the benchmark is in neutral territory with a Relative Strength Index (RSI) of 59 that is closer to the overbought sell signal of 70 than the oversold RSI buy signal of 30.

There are no index constituents trading at attractive oversold levels below the RSI buy signal of 30. The two closest, with RSIs of 32, are Wesdome Gold Mines Ltd. and Kinaxis Inc.

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The 16-member list of overbought benchmark companies is notable for the dominance of industrial and real estate stocks.

Linamar Corp. and Intertape Polymer Group Inc. are the two most overbought companies in the index. For real estate, we have Canadian Apartment Properties REIT, Choice Properties REIT, Home Capital Group Inc., InterRent REIT, Crombie REIT and H&R REIT.

There are three S&P/TSX Composite members showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below.

Canadian Pacific Railway Ltd. is largest company making new highs and it’s followed by this week’s most overbought stocks – Linamar Corp. and Intertape Polymer Group Inc.

There are no companies hitting new 52-week lows.

Stocks jumping to 52-week highs

		Return 1W %	Return YTD %	Market Cap
CP-T	CANADIAN PACIFIC RAILWAY LTD	3.41	31.20	57,978,368,807
LNR-T	LINAMAR CORP	23.14	15.76	3,695,346,353
ITP-T	INTERTAPE POLYMER GROUP INC	27.08	28.08	1,190,815,443

This week's overbought stocks

	NAME	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
LNR-T	LINAMAR CORP	84.43	56.46	38.67	23.14	15.76	13.99	9.38
ITP-T	INTERTAPE POLYMER GROUP INC	83.54	20.18	13.84	27.08	28.08	12.94	12.11
GC-T	GREAT CANADIAN GAMING CORP	82.30	37.88	28.46	56.08	-11.99	257.54	164.70
CAR-UN-T	CAN APARTMENT PROP REAL ESTA	78.82	51.19	48.30	15.45	-1.09	26.91	#N/A N/A
MIC-T	GENWORTH MI CANADA INC	78.54	44.35	37.09	0.80	-11.35	8.95	9.33
CAE-T	CAE INC	75.70	28.88	23.60	20.48	-15.64	43.74	37.65
CHP-UN-T	CHOICE PROPERTIES REIT	74.45	13.44	12.95	7.35	1.32	9.67	#N/A N/A
MRE-T	MARTINREA INTERNATIONAL INC	73.84	12.51	9.97	21.10	-11.01	#N/A N/A	6.00
HCG-T	HOME CAPITAL GROUP INC	72.51	27.24	22.05	2.71	-17.35	9.27	7.17
EQB-T	EQUITABLE GROUP INC	71.98	92.83	76.15	-0.70	-13.80	7.72	6.65
BNS-T	BANK OF NOVA SCOTIA	71.48	60.87	57.97	7.49	-11.85	11.04	10.55
CJR-B-T	CORUS ENTERTAINMENT INC-B SH	70.81	4.01	3.25	4.70	-20.39	5.37	5.79
IAG-T	IA FINANCIAL CORP INC	70.54	55.89	48.85	5.61	-19.30	#N/A N/A	8.41
IIP-UN-T	INTERRENT REAL ESTATE INVEST	70.49	13.61	14.09	12.20	-11.35	4.82	#N/A N/A
CRR-UN-T	CROMBIE REAL ESTATE INVESTME	70.25	14.23	13.29	6.67	-5.67	30.90	#N/A N/A
HR-UN-T	H&R REAL ESTATE INV-REIT UTS	70.09	11.77	11.64	11.14	-40.37	6.34	#N/A N/A

Source: Bloomberg

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