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

Published December 11, 2020 Updated December 14, 2020

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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.

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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.

Stocks hitting 52-week highs

		Return 1W %	Return YTD %	Market Cap
CSU-T	CONSTELLATION SOFTWARE INC	2.40	31.44	35,027,479,937
WSP-T	WSP GLOBAL INC	11.75	38.04	13,705,702,417
WFT-T	WEST FRASER TIMBER CO LTD	6.41	47.09	5,709,653,301
RNW-T	TRANSALTA RENEWABLES INC	3.58	24.22	4,857,713,749
OSB-T	NORBORD INC	6.74	64.38	4,486,035,272
MX-T	METHANEX CORP	8.41	16.91	4,329,461,266
CFP-T	CANFOR CORP	9.23	83.28	2,786,131,650
ATA-T	ATS AUTOMATION TOOLING SYS	4.44	6.39	2,109,070,771
LIF-T	LABRADOR IRON ORE ROYALTY CO	0.71	34.23	1,996,800,000
TCL-A-T	TRANSCONTINENTAL INC-CL A	4.22	35.69	1,777,988,972
IFP-T	INTERFOR CORP	10.34	52.69	1,506,957,267
MTL-T	MULLEN GROUP LTD	9.29	26.69	1,094,121,950
ZZZ-T	SLEEP COUNTRY CANADA HOLDING	6.92	30.62	951,216,506

This week's overbought stocks

	NAME	RSI	Price	200DMA	Return 1W %	Retrun YTD %	PE Ratio TTM	PE Ratio Fwd
WSP-T	WSP GLOBAL INC	89.98	120.73	86.73	11.75	38.04	38.96	32.42
WCP-T	WHITECAP RESOURCES INC	85.99	4.83	2.38	20.45	-4.86	#N/A N/A	483.00
LNR-T	LINAMAR CORP	80.26	68.30	40.65	3.80	40.32	16.92	11.35
LIF-T	LABRADOR IRON ORE ROYALTY CO	80.26	31.20	23.24	0.71	34.23	9.97	8.93
CFP-T	CANFOR CORP	79.90	22.25	13.45	9.23	83.28	9.13	6.72
ATA-T	ATS AUTOMATION TOOLING SYS	79.89	22.80	18.61	4.44	6.39	38.16	19.60
IFP-T	INTERFOR CORP	79.43	22.40	13.02	10.34	52.69	12.45	6.20
HSE-T	HUSKY ENERGY INC	79.03	6.51	4.24	16.46	-34.31	#N/A N/A	#N/A N/A
MEG-T	MEG ENERGY CORP	78.42	4.53	3.24	20.80	-38.70	#N/A N/A	#N/A N/A
BNS-T	BANK OF NOVA SCOTIA	78.25	68.29	57.08	2.85	-1.10	13.20	11.13
FRU-T	FREEHOLD ROYALTIES LTD	77.53	5.72	3.94	14.17	-16.25	250.34	143.00
SAP-T	SAPUTO INC	77.19	37.73	33.95	2.39	-4.71	24.30	20.04
BB-T	BLACKBERRY LTD	77.05	10.65	6.49	10.94	27.54	#N/A N/A	134.50
VET-T	VERMILION ENERGY INC	77.04	6.61	5.57	19.75	-67.05	#N/A N/A	#N/A N/A
TD-T	TORONTO-DOMINION BANK	76.32	72.35	61.43	2.38	4.33	11.19	12.43
CVE-T	CENOVUS ENERGY INC	76.00	7.87	5.60	14.72	-39.35	#N/A N/A	#N/A N/A
CPG-T	CRESCENT POINT ENERGY CORP	75.87	3.05	2.00	25.51	-46.77	9.60	#N/A N/A
OSB-T	NORBORD INC	75.19	55.62	34.88	6.74	64.38	15.83	7.01
MFI-T	MAPLE LEAF FOODS INC	75.19	27.95	26.30	2.49	10.76	35.57	22.67
MRE-T	MARTINREA INTERNATIONAL INC	75.15	15.35	10.10	0.52	9.19	#N/A N/A	7.37
NFI-T	NFI GROUP INC	74.85	23.07	17.27	8.67	-9.86	2.40	36.72
ERF-T	ENERPLUS CORP	74.83918	4.22	3.26635	20.57143	-52.83362	#N/A N/A	31.72932331
SES-T	SECURE ENERGY SERVICES INC	74.76	2.78	1.59	15.35	-42.57	#N/A N/A	#N/A N/A
WFT-T	WEST FRASER TIMBER CO LTD	74.63	83.14	53.73	6.41	47.09	16.31	8.40
FTT-T	FINNING INTERNATIONAL INC	74.38	27.61	19.47	0.04	13.65	25.99	17.57
CPX-T	CAPITAL POWER CORP	74.33	35.05	28.82	4.32	7.51	10.06	18.61
FM-T	FIRST QUANTUM MINERALS LTD	73.51	20.54	11.36	3.27	56.13	#N/A N/A	27.26
PRMW-T	PRIMO WATER CORP	72.63	20.63	17.43	3.41	18.30	79.53	35.04
ONEX-T	ONEX CORPORATION	72.59	74.00	61.96	4.76	-9.38	13.53	#N/A N/A
ITP-T	INTERTAPE POLYMER GROUP INC	72.54	25.25	14.58	2.43	60.26	16.66	12.19
MX-T	METHANEX CORP	72.13	56.82	30.08	8.41	16.91	#N/A N/A	117.39
CCO-T	CAMECO CORP	71.46	15.85	13.35	21.92	38.18	#N/A N/A	#N/A N/A
BTE-T	BAYTEX ENERGY CORP	71.18	0.83	0.57	22.06	-55.61	#N/A N/A	#N/A N/A
IMO-T	IMPERIAL OIL LTD	71.15	25.55	20.47	10.08	-22.82	#N/A N/A	49.90
SU-T	SUNCOR ENERGY INC	70.78	23.93	21.54	12.14	-41.39	#N/A N/A	#N/A N/A
ENB-T	ENBRIDGE INC	70.77	43.55	41.50	3.42	-9.29	18.50	17.15
VII-T	SEVEN GENERATIONS ENERGY - A	70.67	6.41	3.68	8.46	-24.32	#N/A N/A	25.85
AC-T	AIR CANADA	70.26	26.43	18.53	-3.01	-45.52	#N/A N/A	#N/A N/A

Source: Bloomberg

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