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

The S&P/TSX Composite index eased lower by 0.3 per cent for the trading week ending with Thursday’s close, leaving the benchmark higher by 17.3 per cent for the year. The index’s Relative Strength Index (RSI) level of 57 puts it in the upper region of technically neutral territory, closer to the overbought sell signal of 70 than the oversold RSI buy signal of 30.

There are only four benchmark constituents trading at technically attractive RSI levels below the 30 buy signal. Canntrust Holdings Inc. is the most oversold stock in the index followed by Nutrien Ltd., Canopy Growth Corp. and Blackberry Ltd.

Most oversold stocks on the TSX

TickerCompanyRSIPrice200DMAReturn 1W (%)Retrun YTD (%)PE Ratio TTMPE Ratio Fwd
TRST-TCANNTRUST HOLDINGS INC12.683.719.18-37.85-38.51N/AN/A
NTR-TNUTRIEN LTD26.2365.4069.38-6.873.5021.9816.25
WEED-TCANOPY GROWTH CORP28.7246.7755.45-8.7132.34N/AN/A
BB-TBLACKBERRY LTD29.379.2911.44-4.83-4.53N/A69.79

Source: Bloomberg

There are 17 TSX companies trading at technically vulnerable levels about the sell signal of 70. Detour Gold Corp., and Eldorado Gold Corp. are the most extended stocks. Other prominent names on the overbought list include Westjet Airlines, Cogeco Communications Inc., and Dollarama Inc.

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Most overbought stocks on the TSX

TickerCompanyRSIPrice200DMAReturn 1W (%)Retrun YTD (%)PE Ratio TTMPE Ratio Fwd
DGC-TDETOUR GOLD CORP85.6617.5112.213.5850.651293.4937.17
ELD-TELDORADO GOLD CORP83.148.825.287.68120.75N/A19.82
WJA-TWESTJET AIRLINES LTD82.5030.7321.620.0072.7240.0920.88
BEP-UN-TBROOKFIELD RENEWABLE PARTNER77.9647.3040.172.0438.75271.2767.49
IPL-TINTER PIPELINE LTD77.6722.2121.352.3019.5315.9217.12
RCH-TRICHELIEU HARDWARE LTD76.9724.6623.60-0.209.1721.27N/A
CJT-TCARGOJET INC76.7189.8879.695.5329.0888.57140.00
PBH-TPREMIUM BRANDS HOLDINGS CORP75.1595.3280.953.3429.0330.9023.02
IFC-TINTACT FINANCIAL CORP74.00126.48108.692.3029.0828.1216.81
CAS-TCASCADES INC73.9511.9410.082.0517.7515.2310.45
NGD-TNEW GOLD INC73.521.501.1419.1736.196.89N/A
CCA-TCOGECO COMMUNICATIONS INC73.14101.2378.394.6252.4515.2913.34
NG-TNOVAGOLD RESOURCES INC72.877.735.461.7341.33N/AN/A
CG-TCENTERRA GOLD INC72.739.746.674.3567.9217.7512.48
HCG-THOME CAPITAL GROUP INC72.5420.8516.794.3146.2512.349.06
ERO-TERO COPPER CORP71.9423.6614.295.56141.9082.5421.06
DOL-TDOLLARAMA INC70.4349.6338.263.2354.2929.0525.86

Source: Bloomberg

There are 10 S&P/TSX Composite companies showing strong price momentum this week by making new 52-week highs. The list, which starts with TC Energy Corp., is sorted by market capitalization below.

TSX stocks hitting 52-week highs

TickerCompanyReturn 1W (%)Return YTD %Market Cap ($Mil)
TRP-TTC ENERGY CORP2.0240.37 62,033.8
QSR-TRESTAURANT BRANDS INTERN0.4032.75 43,442.5
OTEX-TOPEN TEXT CORP1.1726.97 15,065.3
BEP-UN-TBROOKFIELD RENEWABLE PARTNER2.0438.75 14,530.8
H-THYDRO ONE LTD1.6018.35 13,933.6
CCA-TCOGECO COMMUNICATIONS INC4.6252.45 5,107.2
CG-TCENTERRA GOLD INC4.3567.92 2,855.1
ERO-TERO COPPER CORP5.56141.90 2,010.6
HCG-THOME CAPITAL GROUP INC4.3146.25 1,258.5
CJT-TCARGOJET INC5.5329.08 1,207.8

Source: Bloomberg

There are six stocks with notably weak price momentum this week. Methanex Corp. is the largest company making new 52-week lows and is joined Cott Corp. and Canntrust Holdings Inc.

TSX stocks hitting 52-week lows

TickerCompanyReturn 1W (%)Return YTD (%)Market Cap ($Mil)
MX-TMETHANEX CORP-7.33-15.27 4,237.0
BCB-TCOTT CORPORATION-1.44-9.22 2,312.0
OGC-TOCEANAGOLD CORP-1.79-33.51 2,072.2
MTL-TMULLEN GROUP LTD-5.72-20.88 999.0
WEF-TWESTERN FOREST PRODUCTS INC-11.45-20.11 552.9
TRST-TCANNTRUST HOLDINGS INC-37.85-38.51 512.6

Source: Bloomberg

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