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

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.

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.

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