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The S&P/TSX Composite fell back 0.6 per cent for the trading week ending with Thursday’s close, and the year-to-date total return is now 16.4 per cent.
In terms of technical analysis, Relative Strength Index (RSI) puts the benchmark as a whole in the neutral range with a reading of 42 that is between the oversold RSI buy signal of 30 and the overbought sell signal of 70.
There are 20 oversold, technically attractive index companies according to RSI this week, and the list is dominated by resource stocks.
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Turquoise Hill Resources Ltd., Husky Energy Inc., Suncor Energy Inc., Hudbay Minerals Inc. and Teck Resources Ltd. are among the most oversold benchmark companies.
The list of overbought, technically vulnerable index stocks is led by Maple Leaf Foods Inc.
Precious metals miners feature heavily with Detour Gold Corp the second most extended index member. Torex Gold Resources Inc., Alacer Gold Corp., Eldorado Gold Corp. and Yamana Gold Inc. are also trading above the RSI Sell signal of 70.
Stocks hitting new 52-week highs, showing strong price momentum, are sorted by market capitalization below. Brookfield Asset Management is the largest company making new highs. Other prominent names include Franco-Nevada Corp., Metro Inc., Empire Co., and Shopify Inc..
Stocks hitting new lows, those with the weakest price momentum, include Husky Energy Inc., Cameco Corp., Tourmaline oil Corp., and NFI Group Inc.
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