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

Scott BarlowMarket Strategist

Published November 20, 2020

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Published November 20, 2020

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The S&P/TSX Composite climbed 2.0 per cent for the trading week ending with Thursday’s close, and, since the benchmark was flat year to date last week, it’s now 2.0 per cent higher for 2020.

The index is fast approaching overbought territory with a Relative Strength Index (RSI) of 65. This is far closer to the overbought sell signal of 70 than the oversold buy signal of 30.

There are four technically attractive index constituents this week according to RSI. Wesdome Gold Mines Ltd. is the most oversold company this week, and it’s followed by BRP Inc., Altus Group Ltd. and Kirkland Lake Gold Ltd.

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There are almost 40 technically vulnerable S&P/TSX Composite stocks trading above the RSI sell signal of 70 this week. The most overbought stocks are a mix of industrials, real estate and financial firms. Linamar Corp and H&R REIT are the most overbought companies. The top 25 most overbought stocks also features Home Capital Group Inc., Intertape Polymer Group Inc., Toronto-Dominion Bank, Bank of Nova Scotia, Aecon Group Inc. and Boardwalk REIT.

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

Norbord Inc. is the biggest stock making new highs and it’s joined by Hudbay Minerals Inc., Transcontinental Inc. and Interfor Corp.

There are no index companies hitting new 52-week lows.

Stocks hitting 52-week highs

		Return 1W %	Return YTD %	Market Cap
OSB-T	NORBORD INC	17.46	41.01	3,897,810,000
HBM-T	HUDBAY MINERALS INC	11.70	40.95	1,969,992,019
TCL-A-T	TRANSCONTINENTAL INC-CL A	7.95	20.19	1,558,512,739
IFP-T	INTERFOR CORP	12.57	28.22	1,265,440,455

This week's overbought and oversold stocks on the TSX

	OVERSOLD STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
WDO-T	WESDOME GOLD MINES LTD	25.60	10.09	11.54	-9.10	-0.79	26.59	11.34
DOO-T	BRP INC/CA- SUB VOTING	28.10	62.50	55.35	-4.52	5.65	28.82	14.83
AIF-T	ALTUS GROUP LTD	28.24	47.80	45.90	-16.87	27.25	53.63	26.12
KL-T	KIRKLAND LAKE GOLD LTD	28.32	52.85	57.36	-10.67	-6.76	13.17	9.39

	OVERBOUGHT STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
LNR-T	LINAMAR CORP	83.13	60.20	39.06	6.84	23.68	14.91	10.00
HR-UN-T	H&R REAL ESTATE INV-REIT UTS	83.13	13.66	11.44	16.06	-30.79	7.36	#N-A N-A
GC-T	GREAT CANADIAN GAMING CORP	82.66	38.76	28.42	2.32	-9.94	263.52	168.52
HCG-T	HOME CAPITAL GROUP INC	81.29	29.48	21.96	8.22	-10.56	10.03	7.76
ITP-T	INTERTAPE POLYMER GROUP INC	79.41	22.17	13.98	9.86	40.71	14.32	10.48
TD-T	TORONTO-DOMINION BANK	77.33	68.41	61.76	6.06	-1.35	12.97	12.82
BNS-T	BANK OF NOVA SCOTIA	77.18	62.99	57.71	3.48	-8.78	11.42	11.17
CHR-T	CHORUS AVIATION INC	76.52	4.19	3.36	24.70	-46.95	8.55	6.90
SES-T	SECURE ENERGY SERVICES INC	76.02	1.95	1.76	19.63	-59.72	#N-A N-A	#N-A N-A
CIGI-T	COLLIERS INTERNATIONAL GROUP	75.66	112.46	84.40	9.08	11.33	32.95	19.25
MRE-T	MARTINREA INTERNATIONAL INC	75.56	13.12	9.97	4.88	-6.67	#N-A N-A	6.30
BMO-T	BANK OF MONTREAL	75.23	92.27	77.39	6.34	-3.33	12.26	11.97
ARE-T	AECON GROUP INC	74.83	16.16	14.67	4.94	-4.45	53.85	17.06
PSI-T	PASON SYSTEMS INC	74.69	6.75	7.35	18.01	-45.57	35.22	#N-A N-A
RY-T	ROYAL BANK OF CANADA	74.37	103.97	93.61	3.67	5.89	13.36	12.57
BEI-UN-T	BOARDWALK REAL ESTATE INVEST	74.27	33.67	30.54	12.57	-24.64	#N-A N-A	#N-A N-A
MX-T	METHANEX CORP	74.27	49.69	29.33	10.52	2.24	#N-A N-A	369.87
WCP-T	WHITECAP RESOURCES INC	74.17	3.35	2.43	17.54	-34.24	#N-A N-A	670.00
EXE-T	EXTENDICARE INC	74.17	6.36	6.02	12.97	-19.46	18.83	#N-A N-A
BAM-A-T	BROOKFIELD ASSET MANAGE-CL A	73.13	53.32	46.19	12.68	7.68	55.66	16.03
CM-T	CAN IMPERIAL BK OF COMMERCE	73.11	109.44	94.25	3.31	6.29	11.53	10.76
REI-UN-T	RIOCAN REAL ESTATE INVST TR	73.09267	17.23	16.8074	8.092848	-30.80594	#N-A N-A	#N-A N-A
EQB-T	EQUITABLE GROUP INC	73.07	95.35	75.85	2.71	-11.46	7.93	6.83
WSP-T	WSP GLOBAL INC	72.97	94.11	86.14	5.78	7.61	30.37	25.94
CUF-UN-T	COMINAR REAL ESTATE INV-TR U	72.80	8.96	8.79	6.41	-33.00	9.52	9.74
FM-T	FIRST QUANTUM MINERALS LTD	72.67	16.79	10.81	8.18	27.63	#N-A N-A	28.54
AX-UN-T	ARTIS REAL ESTATE INVESTMENT	72.59	10.59	8.77	7.29	-6.25	#N-A N-A	#N-A N-A
ONEX-T	ONEX CORPORATION	72.45	69.55	63.03	12.30	-14.83	12.45	#N-A N-A
ECN-T	ECN CAPITAL CORP	72.21	6.07	4.69	8.39	28.99	40.46	10.34
CRR-UN-T	CROMBIE REAL ESTATE INVESTME	72.06	14.85	13.26	4.36	-1.56	32.25	#N-A N-A
CAE-T	CAE INC	71.97	31.00	23.36	7.34	-9.44	46.96	40.90
FRU-T	FREEHOLD ROYALTIES LTD	71.87	4.66	4.09	6.88	-31.96	203.95	155.33
IMO-T	IMPERIAL OIL LTD	71.61	22.59	21.04	6.16	-32.42	#N-A N-A	51.58
AC-T	AIR CANADA	71.38	21.68	19.95	16.75	-55.31	#N-A N-A	#N-A N-A
HSE-T	HUSKY ENERGY INC	71.26	4.85	4.43	12.79	-51.17	#N-A N-A	#N-A N-A
GWO-T	GREAT-WEST LIFECO INC	71.18	30.16	25.73	3.01	-4.68	#N-A N-A	10.04
CGX-T	CINEPLEX INC	70.63	9.12	12.83	43.17	-72.94	#N-A N-A	#N-A N-A
HBM-T	HUDBAY MINERALS INC	70.55	7.54	4.44	11.70	40.95	20.49	#N-A N-A
BTE-T	BAYTEX ENERGY CORP	70.46	0.64	0.63	28.00	-65.78	#N-A N-A	#N-A N-A
EIF-T	EXCHANGE INCOME CORP	70.11	38.60	29.82	10.73	-7.78	32.99	18.62

Source: Bloomberg

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