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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-TCANADIAN PACIFIC RAILWAY LTD3.4131.2057,978,368,807
LNR-TLINAMAR CORP23.1415.763,695,346,353
ITP-TINTERTAPE POLYMER GROUP INC27.0828.081,190,815,443

This week's overbought stocks

NAMERSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
LNR-TLINAMAR CORP84.4356.4638.6723.1415.7613.999.38
ITP-TINTERTAPE POLYMER GROUP INC83.5420.1813.8427.0828.0812.9412.11
GC-TGREAT CANADIAN GAMING CORP82.3037.8828.4656.08-11.99257.54164.70
CAR-UN-TCAN APARTMENT PROP REAL ESTA78.8251.1948.3015.45-1.0926.91#N/A N/A
MIC-TGENWORTH MI CANADA INC78.5444.3537.090.80-11.358.959.33
CAE-TCAE INC75.7028.8823.6020.48-15.6443.7437.65
CHP-UN-TCHOICE PROPERTIES REIT74.4513.4412.957.351.329.67#N/A N/A
MRE-TMARTINREA INTERNATIONAL INC73.8412.519.9721.10-11.01#N/A N/A6.00
HCG-THOME CAPITAL GROUP INC72.5127.2422.052.71-17.359.277.17
EQB-TEQUITABLE GROUP INC71.9892.8376.15-0.70-13.807.726.65
BNS-TBANK OF NOVA SCOTIA71.4860.8757.977.49-11.8511.0410.55
CJR-B-TCORUS ENTERTAINMENT INC-B SH70.814.013.254.70-20.395.375.79
IAG-TIA FINANCIAL CORP INC70.5455.8948.855.61-19.30#N/A N/A8.41
IIP-UN-TINTERRENT REAL ESTATE INVEST70.4913.6114.0912.20-11.354.82#N/A N/A
CRR-UN-TCROMBIE REAL ESTATE INVESTME70.2514.2313.296.67-5.6730.90#N/A N/A
HR-UN-TH&R REAL ESTATE INV-REIT UTS70.0911.7711.6411.14-40.376.34#N/A N/A

Source: Bloomberg

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