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

The S&P/TSX Composite enjoyed a strong trading week to Thursday’s close, climbing 1.8 per cent to stand 17.7 per cent higher for the year.

In technical terms, the benchmark’s Relative Strength Index (RSI) reading of 63 leaves it in neutral territory, although much closer to the overbought RSI sell signal of 70 than the oversold buy signal of 30.

There are four technically attractive, oversold index members according to RSI this week. Gran Tierra Energy Inc. is the most oversold company in the benchmark, followed by Maple Leaf Foods Inc., NuVista Energy Ltd., and Blackberry Ltd.

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The market rally leaves a far larger number of index stocks (14) in overbought territory, indicating a higher potential for a price correction. Detour Gold Corp. is the frothiest company in the benchmark with Ivanhoe Mines Ltd., WestJet Airlines Ltd., Eldorado Gold Corp., Richelieu Hardware Ltd. and Novagold Resources Inc. close behind.

TSX stocks with the strongest price momentum – those hitting 52 week highs – are sorted by market capitalization below. Restaurant Brands International Inc. is the largest company making new highs. Brookfield Infrastructure Partners, Air Canada and Chorus Aviation Inc. are also on the list.

There are two S&P/TSX Composite members making new 52 week lows this week – Gran Tierra Energy and Oceanagold Corp.

OversoldRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
GTE-TGRAN TIERRA ENERGY INC21.901.913.29-6.83-35.916.44#N/A N/A
MFI-TMAPLE LEAF FOODS INC30.1028.7829.990.036.3920.6420.78
NVA-TNUVISTA ENERGY LTD30.682.524.47-3.08-38.247.237.08
BB-TBLACKBERRY LTD30.889.7411.540.930.31#N/A N/A69.44
Overbought
DGC-TDETOUR GOLD CORP87.9316.7712.061.0245.451233.4438.53
IVN-TIVANHOE MINES LTD-CL A86.414.512.989.7390.30111.00#N/A N/A
WJA-TWESTJET AIRLINES LTD84.5330.7321.360.0372.7240.0921.06
ELD-TELDORADO GOLD CORP84.188.205.219.19105.00#N/A N/A19.37
RCH-TRICHELIEU HARDWARE LTD81.9524.6823.7411.529.3921.29#N/A N/A
NG-TNOVAGOLD RESOURCES INC77.477.535.40-0.7938.93#N/A N/A#N/A N/A
CAS-TCASCADES INC77.2911.7010.1010.3815.3914.939.96
ABX-TBARRICK GOLD CORP73.5421.1017.242.4814.881914.4238.97
BEP-UN-TBROOKFIELD RENEWABLE PARTNER73.5346.5039.992.8835.97265.5362.12
IPL-TINTER PIPELINE LTD72.5921.7121.387.9016.8415.5616.74
AEM-TAGNICO EAGLE MINES LTD72.2567.5054.161.2623.23255.1770.34
ONEX-TONEX CORPORATION71.1781.7279.023.7310.175.33191.81
DOO-TBRP INC/CA- SUB VOTING70.7348.7643.294.4138.6318.9712.44
FR-TFIRST MAJESTIC SILVER CORP70.3110.278.020.7928.05#N/A N/A#N/A N/A

Source: Bloomberg/Scott Barlow

Stocks reaching 52-week highs

Return 1W %Return YTD %Market Cap
QSR-TRESTAURANT BRANDS INTERN2.73230132.2201743025492294
BIP-U-TBROOKFIELD INFRASTRUCTURE PA2.01067624.6029222612776071
OTEX-TOPEN TEXT CORP2.59355325.4958714938551035
EMA-TEMERA INC2.00037427.8931412867978837
AC-TAIR CANADA3.1773461.3636411231733085
IVN-TIVANHOE MINES LTD-CL A9.7323690.295364595627266
BYD-UN-TBOYD GROUP INCOME FUND2.82685552.295793350257535
DGC-TDETOUR GOLD CORP1.02409645.446662953901223
CHR-TCHORUS AVIATION INC2.95250346.84931337442612
ELD-TELDORADO GOLD CORP9.187751051302174120

Stocks hitting 52-week lows

Return 1W %Return YTD %Market Cap
GTE-TGRAN TIERRA ENERGY INC-6.829268-35.90604785908586.2
OGC-TOCEANAGOLD CORP-5.882353-32.303992090844114

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