Skip to main content

The S&P/TSX Composite Index rose 1.3 per cent for the trading week ending with Thursday’s close, and the benchmark is now bumping up against the Relative Strength Index (RSI) overbought sell signal. The index’s RSI is now over 68, very close to the sell signal of 70.

For the second week in a row, there are no oversold, technically attractive stocks trading below the RSI buy signal of 30. The two companies closest to oversold territory are Cronos Group Inc. and Canntrust Holdings Inc., both with RSI readings of 32.

The stronger markets have pushed 22 benchmark stocks to overbought, technically vulnerable RSI readings.

Story continues below advertisement

Dream Global REIT – the subject of a buyout by Blackstone Group – is the most overbought company in the benchmark. A raft of financial stocks follow closely behind – Great-West Lifeco Inc., IA Financial Corp., Power Financial Corp., and Canadian Imperial Bank of Commerce.

Other notable names on the overbought list include Sun Life Financial Inc., Crescent Point Energy Corp., Royal Bank and Bank of Nova Scotia.

The S&P/TSX Composite stocks showing strong price momentum by establishing new 52-week highs are sorted by market capitalization below.

Brookfield Asset Management LLP is the largest company making new highs (as it has been for a number of weeks) followed by Sun-Life Financial Inc., Intact Financial Corp., Choice Properties REIT and Algonquin Power and Utilities.

No benchmark stocks are making new 52-week lows this week.

Stocks reaching 52-week highs

Return 1W %Return YTD %Market Cap
BAM-A-TBROOKFIELD ASSET MANAGE-CL A1.3438.6371,826,063,655.10
SLF-TSUN LIFE FINANCIAL INC1.9334.2434,960,009,434.35
IFC-TINTACT FINANCIAL CORP1.5834.7518,789,201,507.60
CHP-UN-TCHOICE PROPERTIES REIT1.9929.1610,150,787,017.28
AQN-TALGONQUIN POWER & UTILITIES0.7933.558,865,465,696.06
WSP-TWSP GLOBAL INC4.2133.998,195,447,721
IAG-TIA FINANCIAL CORP INC2.1141.006,367,974,930.10
AP-UN-TALLIED PROPERTIES REAL ESTAT3.6923.256,269,400,420.96
CRR-UN-TCROMBIE REAL ESTATE INVESTME1.7932.732,425,421,776
CUF-UN-TCOMINAR REAL ESTATE INV-TR U2.9619.372,341,120,394.82
D-UN-TDREAM OFFICE REAL ESTATE INV4.5531.471,658,473,097.85

OverboughtRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
DRG-UN-TDREAM GLOBAL REAL ESTATE INV81.9046316.5813.6716.1144.8317.74#N/A N/A
GWO-TGREAT-WEST LIFECO INC81.0830231.1230.151.8015.2414.309.90
IAG-TIA FINANCIAL CORP INC81.0347159.8851.242.1141.0010.119.02
PWF-TPOWER FINANCIAL CORP80.6624130.7629.202.8323.0910.958.76
CM-TCAN IMPERIAL BK OF COMMERCE78.2197111.36106.973.3712.279.259.02
D-UN-TDREAM OFFICE REAL ESTATE INV77.8358528.4124.264.5531.4718.04#N/A N/A
POW-TPOWER CORP OF CANADA77.326130.0028.063.2027.3412.108.89
SLF-TSUN LIFE FINANCIAL INC77.0488959.2651.691.9334.2415.1711.38
CPG-TCRESCENT POINT ENERGY CORP76.957516.164.4110.0748.8311.0812.15
RY-TROYAL BANK OF CANADA76.87868107.22101.742.6017.7812.1611.53
BLX-TBORALEX INC -A74.4086222.4519.081.8835.52#N/A N/A#N/A N/A
CHE-UN-TCHEMTRADE LOGISTICS INCOM FD73.3388211.619.893.0220.31#N/A N/A#N/A N/A
WSP-TWSP GLOBAL INC73.2926177.8369.714.2133.9925.3119.77
NVA-TNUVISTA ENERGY LTD73.29242.573.4719.82-36.2710.1520.73
BTE-TBAYTEX ENERGY CORP72.871032.252.2317.37-7.4714.7623.20
CUF-UN-TCOMINAR REAL ESTATE INV-TR U72.3139912.8612.042.9619.3711.9911.69
BNS-TBANK OF NOVA SCOTIA72.0890974.8871.496750.323188812.1876310.510736069.99066044
MFC-TMANULIFE FINANCIAL CORP71.4196924.6422.58962.13210730.353028.552098878.177895785
NA-TNATIONAL BANK OF CANADA71.2195865.1461.747050.712846818.4680710.5185546410.02153846
CFP-TCANFOR CORP70.7927315.4913.652650.6518905-6.59407146.22321358#N/A N/A
AQN-TALGONQUIN POWER & UTILITIES70.5947517.9715.500.7933.5523.33#N/A N/A
ERF-TENERPLUS CORP70.0600710.6810.5810.260.968.036.33

Source: Bloomberg

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter