The S&P/TSX Composite eased higher by 0.2 per cent for the trading week ending with Thursday’s close and stands 14.9 per cent higher year to date.
In technical terms, the benchmark is firmly in neutral territory with a Relative Strength Index (RSI) reading of 49 that it almost exactly mid-way between the oversold RSI buy signal of 30 and the overbought sell signal of 70.
There are 16 oversold index members this week led by Nuvista Energy Ltd. Peyto Exploration and Development Corp., Saputo Inc., Tourmaline Oil Corp., Kelt Exploration Ltd., and Enerplus Corp. follow Nuvista .
There are 19 overbought, technically vulnerable benchmark stocks this week, according to RSI.
WestJet Airlines Ltd. is the most overbought company in the index followed by Hudson’s Bay Co., Semafo Inc., Laurentian Bank of Canada, Premium Brands Holdings Corp and Detour Gold Corp.
Stocks with the strongest price momentum, those making new 52-week highs, are sorted by market capitalization in the table below.
CGI Group Inc. is the largest company making new highs this week, followed by Centerra Gold Inc., Pretium Resources Inc., Empire Co. Ltd., and Ero Copper Corp.
There is only one stock making new 52-week lows, Nuvista Energy Ltd.