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The S&P/TSX Composite eased lower by 0.4 per cent for the trading week ending with Thursday’s close and stands 3.1 per cent higher for 2021.

The benchmark’s Relative Strength Index (RSI) of 65 leaves it at the high end of the technically neutral range, much closer to the RSI overbought sell signal of 70 than the oversold sell signal of 30.

There are three oversold, technically attractive TSX stocks by RSI this week.

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Alimentation Couche-Tard Inc. is the most oversold index constituent after falling 16.3 per cent. Extendicare Inc. and Thomson Reuters Corp. are also trading below the RSI buy signal of 30. Ritchie Brothers Auctioneers Inc. and Quebecor Inc. are close to oversold levels but not quite there.

There are 36 overbought, technically vulnerable S&P/TSX Composite members trading above the RSI sell signal of 70. Transalta Corp is the most extended company in the index followed by Bausch Health Co.s Inc., Aphria Inc. and Hexo Corp. Hexo was up 49 per cent for the week.

Other notable names on the overbought list include Toronto-Dominion Bank, Manulife Financial Corp., Crescent Point Energy Corp., Canadian Tire Corp. Ltd. and Fairfax Financial Holdings Ltd.

There are eight benchmark companies showing strong price momentum by establishing new 52-week highs, and they are ranked by market capitalization in the table below. CIBC is the largest stock making new highs, followed by Canopy Growth Corp., Canadian Tire , Blackberry Ltd. and Tourmaline Oil Corp.

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
CM-TCAN IMPERIAL BK OF COMMERCE1.904.7350,888,337,339
WEED-TCANOPY GROWTH CORP12.7439.5616,270,809,980
CTC-A-TCANADIAN TIRE CORP-CLASS A3.938.1611,080,289,874
BB-TBLACKBERRY LTD28.0435.786,440,701,928
TOU-TTOURMALINE OIL CORP14.3922.266,221,374,541
CRON-TCRONOS GROUP INC27.5160.975,062,645,934
APHA-TAPHRIA INC40.4273.304,830,369,958

This week's overbought and oversold stocks

OVERSOLD STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
ATD-B-TALIMENTATION COUCHE-TARD -B12.6836.2943.09-15.37-16.3412.3914.41
EXE-TEXTENDICARE INC24.255.885.89-6.96-11.4517.41#N-A N-A
TRI-TTHOMSON REUTERS CORP29.5599.2499.82-2.95-4.7473.8240.48
OVERBOUGHT STOCKSRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
TA-TTRANSALTA CORP87.8510.938.424.7913.03#N-A N-A#N-A N-A
BHC-TBAUSCH HEALTH COS INC84.4433.3424.1115.2426.24#N-A N-A6.30
APHA-TAPHRIA INC83.9715.256.7440.4273.30575.3815250.00
HEXO-THEXO CORP83.549.014.0349.1792.93#N-A N-A#N-A N-A
AFN-TAG GROWTH INTERNATIONAL INC81.6138.5828.8423.1029.4233.1117.78
NFI-TNFI GROUP INC81.3531.7517.5722.8231.803.3254.97
BBD-B-TBOMBARDIER INC-B79.380.590.4318.0022.92#N-A N-A#N-A N-A
CJR-B-TCORUS ENTERTAINMENT INC-B SH78.874.923.3111.5614.956.54#N-A N-A
TD-TTORONTO-DOMINION BANK78.4675.6062.812.086.2411.6913.03
CRON-TCRONOS GROUP INC78.0214.238.5627.5160.97#N-A N-A#N-A N-A
CPG-TCRESCENT POINT ENERGY CORP77.923.902.1511.7531.3112.2837.50
MFC-TMANULIFE FINANCIAL CORP77.3424.5519.282.468.399.308.01
FRU-TFREEHOLD ROYALTIES LTD77.196.294.0812.9320.73275.29139.78
RUS-TRUSSEL METALS INC76.4023.7418.001.544.4461.5417.30
CTC-A-TCANADIAN TIRE CORP-CLASS A76.07180.98131.813.938.1618.2612.78
FFH-TFAIRFAX FINANCIAL HLDGS LTD75.84477.96407.544.1810.17184.1210.84
BLDP-TBALLARD POWER SYSTEMS INC75.5743.6720.8422.5346.64#N-A N-A#N-A N-A
FTT-TFINNING INTERNATIONAL INC75.0029.8220.841.0810.3228.0719.01
TOU-TTOURMALINE OIL CORP74.7620.9815.2314.3922.26#N-A N-A12.99
ARE-TAECON GROUP INC74.6117.6814.826.518.0758.9219.34
ARX-TARC RESOURCES LTD73.877.275.8412.0221.17116.1030.55
PXT-TPAREX RESOURCES INC73.5242421.1116.1196.02712220.4908715.99516078#N-A N-A
LSPD-TLIGHTSPEED POS INC-SUB VOTE73.4794.5543.9710.705.24#N-A N-A#N-A N-A
FEC-TFRONTERA ENERGY CORP73.404.163.1912.4329.60#N-A N-A#N-A N-A
WEED-TCANOPY GROWTH CORP72.7843.7125.4212.7439.56#N-A N-A#N-A N-A
GC-TGREAT CANADIAN GAMING CORP72.6243.3029.280.21-0.41294.39#N-A N-A
BB-TBLACKBERRY LTD72.5911.466.9128.0435.78#N-A N-A84.98
ENB-TENBRIDGE INC72.1245.0241.415.3110.5919.1517.97
EQB-TEQUITABLE GROUP INC71.90109.0178.57-1.547.939.077.68
BLX-TBORALEX INC -A71.8353.1234.951.3712.45113.4081.35
SPB-TSUPERIOR PLUS CORP71.7613.1611.303.798.0537.5721.12
NTR-TNUTRIEN LTD71.4268.2352.074.1711.4137.2524.90
SCL-TSHAWCOR LTD70.614.352.688.7523.58#N-A N-A#N-A N-A
LNR-TLINAMAR CORP70.3273.0044.851.968.2818.0911.47
BNS-TBANK OF NOVA SCOTIA70.1269.9658.101.413.0413.5211.44

Source: Bloomberg

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