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The S&P/TSX Composite jumped another 2.7 per cent for the week ending with Thursday’s close and the entire benchmark is now overbought according to Relative Strength Index (RSI).

The index’s current RSI of 73 is well above the sell signal of 70, and the oversold RSI buy signal of 30 is a distant memory.

There are no technically attractive oversold stocks this week as we might expect from the market’s strong rally. Two gold miners, Agnico Eagle Mines Ltd and Barrick Gold Corp., are the closest to oversold with RSIs of 30 and 31 respectively.

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There are 66 stocks, about 30 per cent of index, trading in overbought territory above the RSI sell signal of 70. Whitecap Resources Inc. is the most overbought benchmark company , followed by H&R REIT and Intertape Polymer Group Group Inc. Royal Bank of Canada, Bank of Nova Scotia, Bank of Montreal and Toronto-Dominion Bank are all among the top 10 most overbought stocks.

There are 12 S&P/TSX Composite companies showing strong price momentum by making new 52-week highs and they are ranked by market capitalization in the table below.

First Quantum Minerals is the largest stock hitting new highs. Newer names on the list include Aphria Inc., ECN Capital Corp and Trillium Therapeutics Inc.

Unsurprisingly, there are no index constituents hitting new 52-weel lows.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
FM-TFIRST QUANTUM MINERALS LTD7.3336.9812,423,110,248
NPI-TNORTHLAND POWER INC10.1371.399,076,336,300
LSPD-TLIGHTSPEED POS INC-SUB VOTE22.7689.917,665,927,407
TIH-TTOROMONT INDUSTRIES LTD3.4830.937,502,367,091
LUN-TLUNDIN MINING CORP14.4232.437,395,790,399
MX-TMETHANEX CORP9.8812.344,160,305,968
APHA-TAPHRIA INC17.4838.792,717,041,932
HBM-THUDBAY MINERALS INC11.4157.032,194,686,068
ECN-TECN CAPITAL CORP3.1333.031,518,878,279
IFP-TINTERFOR CORP5.1034.761,330,024,338

This week's overbought stocks on the TSX

NAMERSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
WCP-TWHITECAP RESOURCES INC84.714.042.4020.60-20.69#N-A N-A808.00
HR-UN-TH&R REAL ESTATE INV-REIT UTS83.4214.4911.266.52-26.287.81#N-A N-A
ITP-TINTERTAPE POLYMER GROUP INC82.8923.9914.158.2152.2615.5711.39
HCG-THOME CAPITAL GROUP INC82.2630.4921.873.43-7.4910.377.96
RY-TROYAL BANK OF CANADA82.12108.2593.594.1210.2513.9113.07
BNS-TBANK OF NOVA SCOTIA82.1164.8857.463.00-6.0411.7711.58
LSPD-TLIGHTSPEED POS INC-SUB VOTE81.2268.5035.4922.7689.91#N-A N-A#N-A N-A
EXE-TEXTENDICARE INC81.176.935.988.96-12.2520.52#N-A N-A
BMO-TBANK OF MONTREAL80.9997.1677.235.301.7912.9112.63
TD-TTORONTO-DOMINION BANK80.5370.9161.623.652.2613.4413.26
MX-TMETHANEX CORP80.3954.6029.539.8812.34#N-A N-A215.67
REI-UN-TRIOCAN REAL ESTATE INVST TR80.2718.3116.576.27-26.47#N-A N-A#N-A N-A
APHA-TAPHRIA INC80.129.415.7917.4838.79#N-A N-A#N-A N-A
LNR-TLINAMAR CORP80.0860.7639.480.9324.8315.0510.09
HBM-THUDBAY MINERALS INC79.848.404.5411.4157.0322.93#N-A N-A
FM-TFIRST QUANTUM MINERALS LTD79.6218.0210.967.3336.98#N-A N-A30.71
PSI-TPASON SYSTEMS INC79.617.447.1810.22-40.0138.82#N-A N-A
MRE-TMARTINREA INTERNATIONAL INC78.4013.979.986.48-0.63#N-A N-A6.70
GC-TGREAT CANADIAN GAMING CORP77.4538.4828.33-0.72-10.59261.62167.30
NA-TNATIONAL BANK OF CANADA77.3573.6962.774.576.0312.1512.01
HSE-THUSKY ENERGY INC77.294885.664.35116.70103-43.01921#N-A N-A#N-A N-A
MEG-TMEG ENERGY CORP77.283.893.3917.88-47.36#N-A N-A#N-A N-A
ATA-TATS AUTOMATION TOOLING SYS77.1221.6018.487.360.7936.1518.59
FTT-TFINNING INTERNATIONAL INC76.4526.2119.167.077.8824.6716.87
NTR-TNUTRIEN LTD76.2563.3049.728.155.8833.8625.02
LUN-TLUNDIN MINING CORP75.9910.087.2514.4232.4338.7417.37
TCL-A-TTRANSCONTINENTAL INC-CL A75.8019.0414.676.2527.719.2210.97
FRU-TFREEHOLD ROYALTIES LTD75.795.114.039.66-25.39223.64127.75
CUF-UN-TCOMINAR REAL ESTATE INV-TR U75.669.258.653.24-30.839.8310.05
SES-TSECURE ENERGY SERVICES INC75.632.321.6918.97-52.08#N-A N-A#N-A N-A
SU-TSUNCOR ENERGY INC75.5322.6422.4012.41-45.10#N-A N-A#N-A N-A
AC-TAIR CANADA74.9723.8219.369.87-50.90#N-A N-A#N-A N-A
BBD-B-TBOMBARDIER INC-B74.810.430.5026.47-77.72#N-A N-A#N-A N-A
EQB-TEQUITABLE GROUP INC74.7298.1875.522.97-8.848.177.00
CM-TCAN IMPERIAL BK OF COMMERCE74.68111.2394.271.648.0311.7110.90
CPG-TCRESCENT POINT ENERGY CORP74.632.552.0817.51-55.508.03#N-A N-A
LB-TLAURENTIAN BANK OF CANADA74.4433.4430.028.96-20.8711.3512.15
PXT-TPAREX RESOURCES INC74.4218.5215.6913.62-23.3113.756.79
IMO-TIMPERIAL OIL LTD74.1624.4820.858.37-26.76#N-A N-A49.96
EFX-TENERFLEX LTD74.167.385.7020.32-37.697.4041.46
CIGI-TCOLLIERS INTERNATIONAL GROUP74.13115.7084.502.8814.5434.0519.89
CGX-TCINEPLEX INC74.0010.3612.2313.60-69.26#N-A N-A#N-A N-A
CNQ-TCANADIAN NATURAL RESOURCES73.9631.0024.1910.99-20.64#N-A N-A58.05
ARE-TAECON GROUP INC73.9016.3714.631.30-3.2154.5517.29
ECN-TECN CAPITAL CORP73.636.264.693.1333.0341.9110.71
AP-UN-TALLIED PROPERTIES REAL ESTAT73.3841.2741.444.48-18.0724.20#N-A N-A
FEC-TFRONTERA ENERGY CORP73.373.123.6321.88-65.27#N-A N-A#N-A N-A
ONEX-TONEX CORPORATION73.1171.2762.642.47-12.7212.82#N-A N-A
WSP-TWSP GLOBAL INC72.8694.8286.100.758.4230.6026.14
GWO-TGREAT-WEST LIFECO INC72.0130.8825.622.39-2.40#N-A N-A10.28
RUS-TRUSSEL METALS INC71.8821.2117.254.273.7754.9816.47
VET-TVERMILION ENERGY INC71.665.526.2016.46-72.48#N-A N-A#N-A N-A
WEED-TCANOPY GROWTH CORP71.6034.9323.2511.9227.90#N-A N-A#N-A N-A
BB-TBLACKBERRY LTD71.447.736.3910.27-7.43#N-A N-A100.91
CHR-TCHORUS AVIATION INC71.384.283.262.15-45.818.747.05
PSK-TPRAIRIESKY ROYALTY LTD71.0910.909.2710.55-26.0359.2958.60
CVE-TCENOVUS ENERGY INC70.956.895.8314.07-46.90#N-A N-A#N-A N-A
IFP-TINTERFOR CORP70.9519.7712.745.1034.7610.985.60
CTC-A-TCANADIAN TIRE CORP-CLASS A70.70165.98123.683.1723.1116.7512.02
MTY-TMTY FOOD GROUP INC70.6251.2532.879.53-7.35#N-A N-A18.37
DIR-UN-TDREAM INDUSTRIAL REAL ESTATE70.5209712.9610.998653.0206683.94358918.39693958#N-A N-A
CRT-UN-TCT REAL ESTATE INVESTMENT TR70.4458215.1113.757552.649457-1.84423943.14344598#N-A N-A
ERF-TENERPLUS CORP70.313053.543.417714.87958-60.43389#N-A N-A30.7826087
CAE-TCAE INC70.2885432.5223.158554.903226-5.00288649.2575029242.90237467
NFI-TNFI GROUP INC70.2371719.9417.8282519.61608-22.090992.04012064431.21655582

Source: Bloomberg

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