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The S&P/TSX Composite was again higher for the trading week ending with Thursday’s close although only by 0.4 per cent. Year-to-date, the benchmark is up 6.8 per cent including dividends.

According to Relative Strength Index (RSI), the TSX remains very close to overbought, technically vulnerable levels with an RSI of 68 that is butting up against the sell signal of 70.

There are no officially oversold, attractive benchmark stocks trading below the RSI buy signal of 30 but there is one surprise. Metro Inc., a company that has benefitted from pandemic conditions, is very close to oversold with an RSI of 31 after falling 1.9 per cent for the week.

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There are 30 S&P/TSX Composite stocks trading at overbought levels. Labrador Iron Ore Royalty Co. is the frothiest company in the index followed by Interfor Corp., WSP Global Inc., Linamar Corp. and First Quantum Minerals Ltd.

Other prominent overbought names include MEG Energy Corp., TransAlta Renewables Inc., Finning International Inc., Bank of Nova Scotia, Blackberry Ltd. and Toronto Dominion Bank.

There 15 index constituents showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below.

Shopify Inc. put in another new high and it’s the largest company to do so this week. First Quantum Minerals, CCL Industries Inc., BRP Inc. and West Fraser Timber Co. Ltd are next in line.

There are no benchmark stocks making new 52-week lows.

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
SHOP-TSHOPIFY INC - CLASS A10.80191.84183,740,219,855
FM-TFIRST QUANTUM MINERALS LTD6.0465.5615,015,367,093
CCL-B-TCCL INDUSTRIES INC - CL B2.2111.8810,887,806,715
DOO-TBRP INC/CA- SUB VOTING7.8945.867,586,628,018
WFT-TWEST FRASER TIMBER CO LTD1.6449.505,803,051,527
LNR-TLINAMAR CORP2.1143.284,564,531,609
CFP-TCANFOR CORP2.1687.232,846,236,962
LIF-TLABRADOR IRON ORE ROYALTY CO11.1549.202,219,520,000
NGD-TNEW GOLD INC5.99161.742,034,897,334
IFP-TINTERFOR CORP6.8363.121,609,887,831
ECN-TECN CAPITAL CORP5.8234.021,536,389,817

This week's overbought stocks

RSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
LIF-TLABRADOR IRON ORE ROYALTY CO84.9434.6823.5811.1549.2011.088.99
IFP-TINTERFOR CORP84.6023.9313.306.8363.1213.306.12
WSP-TWSP GLOBAL INC80.84123.2987.602.1240.9739.7933.11
LNR-TLINAMAR CORP78.5769.7441.442.1143.2817.2811.58
FM-TFIRST QUANTUM MINERALS LTD78.2221.7811.646.0465.56#N-A N-A27.50
CFP-TCANFOR CORP78.0322.7313.732.1687.239.326.43
DOO-TBRP INC/CA- SUB VOTING77.3186.2956.417.8945.8630.0815.47
WCP-TWHITECAP RESOURCES INC76.394.892.411.24-3.68#N-A N-A81.50
MTY-TMTY FOOD GROUP INC76.2557.2132.879.183.43#N-A N-A20.22
MEG-TMEG ENERGY CORP76.094.593.211.32-37.89#N-A N-A#N-A N-A
ITP-TINTERTAPE POLYMER GROUP INC76.0426.7314.856.7070.9917.6612.63
RNW-TTRANSALTA RENEWABLES INC74.6818.9515.564.4529.7639.4522.11
NFI-TNFI GROUP INC74.5623.9217.113.68-6.542.4938.12
CPX-TCAPITAL POWER CORP74.5135.2828.800.668.2210.1218.74
FTT-TFINNING INTERNATIONAL INC74.4928.0019.671.4115.2526.3617.77
OGC-TOCEANAGOLD CORP74.452.542.4510.92-0.39#N-A N-A8.77
OSB-TNORBORD INC73.5656.5735.371.7167.1916.126.69
BNS-TBANK OF NOVA SCOTIA73.4868.1157.03-0.26-1.3713.1611.10
WFT-TWEST FRASER TIMBER CO LTD73.2484.5054.571.6449.5016.587.64
CPG-TCRESCENT POINT ENERGY CORP73.113.071.990.74-46.389.6785.28
BB-TBLACKBERRY LTD72.8710.516.58-1.3125.87#N-A N-A77.02
CRT-UN-TCT REAL ESTATE INVESTMENT TR72.6608715.6313.65782.7613411.9873744.62819861#N-A N-A
ZZZ-TSLEEP COUNTRY CANADA HOLDING72.4827.4518.145.8238.2219.6714.86
TCL-A-TTRANSCONTINENTAL INC-CL A71.9721.7714.947.6146.0212.439.74
MFI-TMAPLE LEAF FOODS INC71.9628.2426.451.0411.9135.9422.90
PSI-TPASON SYSTEMS INC71.508.096.779.28-34.3642.21#N-A N-A
DIR-UN-TDREAM INDUSTRIAL REAL ESTATE71.1513.3810.934.537.8018.99#N-A N-A
ERF-TENERPLUS CORP70.914.253.230.71-52.50#N-A N-A15.51
SIA-TSIENNA SENIOR LIVING INC70.9014.3211.516.55-15.81#N-A N-A#N-A N-A
TD-TTORONTO-DOMINION BANK70.8371.9761.50-0.533.7811.1312.37
SES-TSECURE ENERGY SERVICES INC70.492.751.56-1.08-43.19#N-A N-A#N-A N-A

Source: Bloomberg

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