The S&P/TSX Composite was almost exactly flat for the trading week ending with Thursday’s close – up 0.04 per cent. Year-to-date, the benchmark is up a healthy 17.1 per cent.
In technical terms, the index is in neutral territory with a Relative Strength Index (RSI) level of 50 that is between the oversold buy signal of 30 and the RSI overbought sell signal of 70.
There are 13 oversold, technicaqlly attractive benchmark constituents this week, led by Turquoise Hill Resources Ltd. Canntrust Holdings Inc. is the next most oversold company, followed by Hexo Corp., SNC-Lavalin Group Inc. and Husky Energy Inc.
The most overbought, technically vulnerable S&P/TSX Composite stocks this week is Richelieu Hardware Ltd. Other prominent names on the 21-member overbought list include WesJjet Airlines Ltd., TMX Group Ltd. and Agnico Eagle Mines Ltd.
There are 11 benchmark stocks showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization below. Brookfield Asset Management (A) is the largest company hitting new highs along with Element Fleet Management Corp., Firstservice Corp., Empire Co. Ltd and TMX Group Ltd.
Stocks showing weak price momentum, hitting 52-week lows include Husky Energy Inc., Vermilion Energy Inc., and SNC Lavalin Group Inc.