The S&P/TSX Composite climbed 0.85 per cent for the trading week ending with Thursday’s close.
The benchmark remains in technical neutral territory with a Relative Strength Index (RSI) reading of 54 that is close to the middle point between the RSI oversold buy signal of 30 and the overbought sell signal of 70.
There are 14 oversold, technically attractive benchmark members by RSI this week, led by Magna International Inc.. Canfor Corp. is the second most oversold stock, followed by SNC-Lavalin Inc., Toromont Industries Ltd., AG Growth international Inc. and Fortuna Silver Mines Inc.
There are 23 technically extended, overbought index stocks this week.
WestJet Airlines Ltd is well above the RSI sell signal of 70 with a level of 87. Air Canada, Thomson Reuters Corp., Boyd Group Income Fund, Element Fleet Management Corp and Hydro One follow.
We are now listing S&P/TSX Composite stocks hitting new 52 week highs – those showing the highest price momentum – and those hitting 52 week lows.
The stocks hitting new highs include BCE Inc., Canadian National Railway Co., Hydro One Ltd., Loblaw Companies Ltd., and Shopify Inc.. There are five companies hitting new lows - West Fraser Timber Co. Ltd., Canfor Corp., Celestica Inc., Pan American Silver Corp. and Norbord Inc.