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

Published September 13, 2019

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The S&P/TSX Composite Index climbed 0.5 per cent for the trading week ending with Thursday’s close and stands 18.7 per cent higher for the year so far.

By Relative Strength Index (RSI), the benchmark is at the higher end of technically neutral territory with a reading of 62 that is a lot closer to the overbought, RSI sell signal of 70 than the oversold buy signal of 30.

There are no benchmarks stocks trading at attractive technical RSI levels below the oversold signal of 30 this week, a rare occurrence. The North West Co. Inc. is the closest to official oversold status with an RSI of 30.5.

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There are 21 index constituents trading at technically vulnerable RSI levels above the sell signal of 70.

IA Financial Corp. Inc. is the most extended company in the index with Boralex Inc. and Great-West Lifeco Inc. close behind. Other prominent names on the overbought list include Bank of Nova Scotia, BCE Inc., Sun Life Financial Inc. and Onex Corp.

There are six stocks demonstrating strong price momentum by hitting new 52-week highs this week. The six are ranked by market capitalization below. Brookfield Asset Management Inc. is the largest company making new highs, followed by BCE Inc. and Sun Life Financial Inc.

There is only one company at the other end of the spectrum, making new 52-week lows, and that’s Canntrust Holdings Inc.

Stocks hitting 52-week highs

		Return 1W %	Return YTD %	Market Cap
BAM/A-T	BROOKFIELD ASSET MANAGE-CL A	0.78	36.79	$70,501,667,916.00
BCE-T	BCE INC	1.63	22.51	$57,029,220,040.32
SLF-T	SUN LIFE FINANCIAL INC	3.54	31.69	$34,528,550,315.38
AQN-T	ALGONQUIN POWER & UTILITIES	1.08	32.51	$8,685,343,515.20
IAG-T	IA FINANCIAL CORP INC	3.40	38.08	$6,260,601,730.11
BLX-T	BORALEX INC -A	1.58	33.02	$1,952,833,059.84

Stocks falling to 52-week lows

		Return 1W %	Return YTD %	Market Cap
TRST-T	CANNTRUST HOLDINGS INC	-8.62	-67.73	$307,014,913.59

	Overbought	RSI	Price	200-day MA	Return 1W %	Return YTD %	PE Ratio TTM	PE Ratio Fwd
IAG-T	IA FINANCIAL CORP INC	77.36	58.80	50.95	3.40	38.08	9.93	9.42
BLX-T	BORALEX INC -A	77.35	21.80	18.98	1.58	33.02	#N/A N/A	#N/A N/A
GWO-T	GREAT-WEST LIFECO INC	77.33	30.68	30.14	6.47	13.20	14.09	9.76
BNS-T	BANK OF NOVA SCOTIA	77.06	74.77	71.42	3.67	11.83	10.50	9.98
CPG-T	CRESCENT POINT ENERGY CORP	77.02	5.70	4.36	15.32	35.22	10.25	11.24
BCE-T	BCE INC	75.24	63.34	59.15	1.63	22.51	17.83	17.39
PWF-T	POWER FINANCIAL CORP	74.96	30.10	29.14	4.64	19.70	10.71	8.57
SLF-T	SUN LIFE FINANCIAL INC	74.74	58.31	51.44	3.54	31.69	14.92	11.20
MRU-T	METRO INC/CN	72.30	57.33	49.77	-0.82	22.19	21.39	18.54
ONEX-T	ONEX CORPORATION	71.82	82.72	77.30	4.43	11.88	3.79	#N/A N/A
MRE-T	MARTINREA INTERNATIONAL INC	71.79	11.70	11.31	9.07	8.23	5.18	4.80
DOO-T	BRP INC/CA- SUB VOTING	71.77	52.45	41.10	6.38	47.87	17.16	12.91
ZZZ-T	SLEEP COUNTRY CANADA HOLDING	71.76	22.56	19.90	6.26	14.58	14.75	13.06
CHE-UN-T	CHEMTRADE LOGISTICS INCOM FD	71.56	11.30	9.90	3.30	16.78	#N/A N/A	#N/A N/A
CFP-T	CANFOR CORP	71.31	15.41	13.74	0.79	-7.20	45.98	#N/A N/A
IGM-T	IGM FINANCIAL INC	70.73	37.88	35.15	1.75	25.71	11.93	11.16
AQN-T	ALGONQUIN POWER & UTILITIES	70.56707	17.66	15.39795	1.080159	32.5113	23.00772574	#N/A N/A
MG-T	MAGNA INTERNATIONAL INC	70.5058	72	65.60435	4.01513	18.0726	8.379492928	8.267692132
CWB-T	CANADIAN WESTERN BANK	70.49811	33.43	29.14475	1.697484	31.24344	10.79419171	9.967203339
CM-T	CAN IMPERIAL BK OF COMMERCE	70.15703	108.34	107.0739	4.125109	8.610932	8.999135334	8.783137414
DSG-T	DESCARTES SYSTEMS GRP/THE	70.06	52.47	46.42	-0.45	45.85	84.02	27.51

Source: Bloomberg

Follow Scott Barlow on Twitter @SBarlow_ROB

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