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The S&P/TSX Composite endured a difficult week to Thursday’s close, falling 1.5 per cent. Despite the weakness, the benchmark remains in technically neutral territory according to Relative Strength Index (RSI). The current reading of 48 is close to the halfway point between the oversold buy signal of 30 and the overbought RSI sell signal of 70.

There are six oversold, technically attractive index members by RSI this week. Gran Tierra Energy Inc. is the most oversold company in the benchmark followed by Ensign Energy Services Inc., Blackberry Ltd., Maple Leaf Foods Inc., Saputo Inc., and Transalta Corp.

Oversold TSX stocks

RSIPrice200DMAReturn 1W %Retrun YTD %PE Ratio TTMPE Ratio Fwd
GTE-TGRAN TIERRA ENERGY INC25.792.053.34-8.48-31.216.92#N/A N/A
ESI-TENSIGN ENERGY SERVICES INC27.834.355.32-10.31-4.99#N/A N/A#N/A N/A
BB-TBLACKBERRY LTD28.259.6511.61-15.20-0.62#N/A N/A68.92
MFI-TMAPLE LEAF FOODS INC28.2828.7730.05-5.806.3520.6320.77
SAP-TSAPUTO INC29.1739.0341.56-1.810.3923.5122.06
TA-TTRANSALTA CORP29.617.997.80-6.3344.29#N/A N/A#N/A N/A

Source: Bloomberg

The list of overbought, technically vulnerable benchmark stocks is dominated by precious metals companies. Detour Gold is the most extended stock in the index, followed by Novagold Resources Inc., Westjet Airlines Ltd., Eldorado Gold Corp. and Ivanhoe Mines Ltd.

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Overbought TSX Stocks

RSIPrice200DMAReturn 1W %Retrun YTD %PE Ratio TTMPE Ratio Fwd
DGC-TDETOUR GOLD CORP89.7216.6011.958.8543.971223.1338.91
NG-TNOVAGOLD RESOURCES INC87.397.595.3411.1340.04#N/A N/A#N/A N/A
WJA-TWESTJET AIRLINES LTD85.3530.7221.141.5572.6740.0821.06
ELD-TELDORADO GOLD CORP82.397.515.1711.7687.75#N/A N/A17.82
IVN-TIVANHOE MINES LTD-CL A78.784.112.944.5873.42101.34#N/A N/A
KL-TKIRKLAND LAKE GOLD LTD72.3655.7437.732.9656.8727.5418.47
FR-TFIRST MAJESTIC SILVER CORP72.0410.197.964.7327.06#N/A N/A#N/A N/A
ABX-TBARRICK GOLD CORP72.0320.5917.091.8312.101871.5040.66
LB-TLAURENTIAN BANK OF CANADA71.9445.4942.210.3121.419.999.73
LIF-TLABRADOR IRON ORE ROYALTY CO71.8134.5827.994.2951.6716.1010.54
AEM-TAGNICO EAGLE MINES LTD70.4166.6653.691.2821.70252.4571.25
CAS-TCASCADES INC70.1710.6010.130.954.5413.529.49

Source: Bloomberg

S&P/TSX Composite companies showing the strongest price momentum – those making new 52-week highs – are sorted by market capitalization below. Empire Co. Ltd. (A) is the biggest stock making new highs, followed by Ivanhoe Mines Ltd. (A), Novagold Resources Inc., Labrador iron Ore Royalty Co. and Eldorado Gold Corp.

Stocks hitting 52-week highs

CompanyReturn 1W %Return YTD %Market Cap
EMP-A-TEMPIRE CO LTD 'A'4.1015.198,961,115,571
IVN-TIVANHOE MINES LTD-CL A4.5873.424,184,652,355
NG-TNOVAGOLD RESOURCES INC11.1340.042,470,995,315
LIF-TLABRADOR IRON ORE ROYALTY CO4.2951.672,213,120,000
ELD-TELDORADO GOLD CORP11.7687.751,192,600,932

Source: Bloomberg

The two index stocks making new 52-week lows are Gran Tierra Energy Inc. and ARC Resources Ltd.

TSX stocks hitting 52-week lows

TickerCompanyReturn 1W %Return YTD %Market Cap
GTE-TARC RESOURCES LTD-4.82-17.242,289,710,032
ARX-TGRAN TIERRA ENERGY INC-8.48-31.21794,501,021

Source: Bloomberg

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