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

Published January 22, 2021

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The S&P/TSX Composite climbed another 1.5 per cent for the trading week ending with Thursday’s close and is now 2.7 per cent higher for 2021.

In terms of Relative Strength Index (RSI) the benchmark is hovering close to overbought with a reading of 68 that is right on the border of the RSI sell signal of 70 and nowhere near the oversold buy signal of 30.

There are three index members trading at attractive technical levels below the RSI buy signal of 30. Alimentation Couche-Tard Inc. is the most oversold company in the benchmark, Maple Leaf Foods Inc. and Methanex Corp. are the others.

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There are 19 index constituents trading at technically vulnerable RSIs above the overbought sell signal of 70. TransAlta Corp . is the most extended company in the benchmark, Bombardier Inc., Blackberry Ltd., Chemtrade Logistics Income Fund and Aphria Inc. follow behind.

There is an interesting mix of index stocks – all from different sectors - showing strong price momentum by hitting new 52-week highs. Sorted by market capitalization in the table below, these are Magna International Inc., Blackberry Ltd., Canfor Corp. and ECN Capital Corp.

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

Stocks hitting 52-week highs

		Return 1W %	Return YTD %	Market Cap
MG-T	MAGNA INTERNATIONAL INC	3.47	7.93	28,998,663,092
BB-T	BLACKBERRY LTD	41.10	91.59	8,964,153,206
CFP-T	CANFOR CORP	5.33	5.00	2,997,752,436
ECN-T	ECN CAPITAL CORP	3.55	8.19	1,719,875,862

This week's overbought and oversold stocks

	OVERSOLD STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
ATD-B-T	ALIMENTATION COUCHE-TARD -B	28.89	37.60	43.21	3.75	-13.21	12.88	14.95
MFI-T	MAPLE LEAF FOODS INC	29.31	25.90	26.96	-1.34	-8.36	32.96	21.37
MX-T	METHANEX CORP	29.41	47.01	34.48	-12.43	-19.82	#N/A N/A	20.54

	OVERBOUGHT STOCKS	RSI	Price	200DMA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
TA-T	TRANSALTA CORP	89.92	11.21	8.52	2.38	15.72	#N/A N/A	#N/A N/A
BBD-B-T	BOMBARDIER INC-B	89.30	0.75	0.43	32.20	62.50	#N/A N/A	#N/A N/A
BB-T	BLACKBERRY LTD	86.83	15.83	7.15	41.10	91.59	#N/A N/A	128.65
CHE-UN-T	CHEMTRADE LOGISTICS INCOM FD	82.93	7.39	5.30	15.86	26.59	#N/A N/A	#N/A N/A
APHA-T	APHRIA INC	74.76	16.27	7.04	5.11	82.16	613.87	#N/A N/A
BHC-T	BAUSCH HEALTH COS INC	74.63	33.80	24.45	1.11	27.64	#N/A N/A	6.36
ECN-T	ECN CAPITAL CORP	74.54	7.03	5.02	3.55	8.19	48.18	12.29
CJR-B-T	CORUS ENTERTAINMENT INC-B SH	72.82	4.90	3.37	0.00	14.95	6.52	#N/A N/A
ATZ-T	ARITZIA INC-SUBORDINATE VOTI	72.73	27.83	19.70	7.15	8.07	218.14	33.61
HEXO-T	HEXO CORP	72.27	8.32	4.15	-5.11	83.08	#N/A N/A	#N/A N/A
BEI-UN-T	BOARDWALK REAL ESTATE INVEST	71.47	36.67	29.99	4.40	8.98	#N/A N/A	#N/A N/A
AFN-T	AG GROWTH INTERNATIONAL INC	71.46	38.04	29.42	-0.70	28.51	32.65	17.78
INE-T	INNERGEX RENEWABLE ENERGY	70.78	30.83	22.65	3.53	13.74	#N/A N/A	88.59
GC-T	GREAT CANADIAN GAMING CORP	70.76	43.41	29.76	-0.16	-0.57	295.14	#N/A N/A
NFI-T	NFI GROUP INC	70.75	30.49	18.00	-2.87	28.02	3.19	51.03
RCH-T	RICHELIEU HARDWARE LTD	70.50	38.00	32.49	10.59	13.80	25.21	24.84
LNR-T	LINAMAR CORP	70.41	73.47	45.97	0.97	9.33	18.20	11.44
CPG-T	CRESCENT POINT ENERGY CORP	70.34	3.90	2.21	2.31	34.34	12.26	22.26
PSI-T	PASON SYSTEMS INC	70.04	8.85	6.80	2.41	13.45	46.17	#N/A N/A

Source: Bloomberg

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