The S&P/TSX Composite climbed another 1.2 per cent for the trading week ending with Thursday’s close and now stands 6.3 per cent higher year to date.
The index itself is now overbought, with a Relative Strength Index (RSI) of 70.5, just over the sell signal of 70.
Once again there are no benchmark constituent companies trading at attractive, oversold technical levels below the RSI buy signal of 30.
Barrick Gold Corp. and Waste Connections Inc. are closest to oversold territory with RSIs of 34 and 35 respectively.
The list of technically vulnerable index stocks trading with RSIs above the overbought sell of 70 is long again at 38 members. The list is a diversified group of industrials, resources and financial stocks. The top five most overbought companies are WSP Global Inc., Whitecap Resources Inc., Linamar Corp., Labrador Iron Ore Royalty Co. and Canfor Corp.
Other notable overbought names are MEG Energy Corp., Bank of Nova Scotia, Blackberry Ltd., Toronto-Dominion Bank, ONEX Corp and Suncor Energy Inc.
There are 13 S&P/TSX Composite members showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below.
Constellation Software Inc. is the biggest company making new highs, followed by WSP Global Inc., West Fraser Timber Co. Ltd, Transalta Renewables Inc. and Norbord Inc.
There are no index stocks making new 52-week lows.
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