The S&P/TSX Composite had a good trading week to Thursday’s close, rising 1.6 per cent – the index is now positive by 15.7 per cent for 2019.
Technically, the benchmark is in neutral territory according to Relative Strength Index (RSI) with a 47 reading that is close to the midpoint between the oversold RSI buy signal of 30 and the sell signal of 70.
There are 16 index members trading at attractive technical levels below the 30 buy signal.
Enerflex Ltd. is the most oversold company in the benchmark, followed by ATS Automation Tooling Systems Inc., AG Growth International Inc., Canopy Growth Corp. and Labrador Iron Ore Royalty Co.
There are 19 overbought, technically vulnerable S&P/TSX Composite stocks this week, led by Brookfield Infrastructure Partners LLP and Dream Office REIT. Altus Group Ltd., Metro Inc., Hudson’s Bay Co. and Canadian Apartment REIT are also on the list
There are six benchmark stocks showing strong price momentum by making new 52-week highs. They are sorted by market capitalization below. Barrick Gold Corp. is the largest company making new highs, followed by Constellation Software Inc. and Brookfield Infrastructure Partners LLP.
Stocks with the weakest price momentum – those hitting new 52-week lows – are also listed below and sorted by market capitalization. Teck Resources Ltd. sits at new lows as does Canopy Growth Corp., Methanex Corp. and Great Canadian Gaming Corp.