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The S&P/TSX Composite climbed a healthy 2.0 per cent for the trading week ending with Thursday’s close and stands a nice 20.4 per cent higher for 2019.

The strong rally has, however, pushed the benchmark into technically overbought territory according to Relative Strength Index (RSI).

The TSX’s current RSI level of 70.3 puts it above the RSI sell signal of 70, indicating a higher probability of a temporary pullback.

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There are 10 index members trading with oversold, technically attractive RSIs below the buy signal of 30. There is an interesting consumer staples and dividend stock bias in this week’s oversold list. Maple Leaf Foods Inc. is the most oversold benchmark stock, and Emera Inc., George Weston Ltd., and Artis REIT are also on the list.

The list of overbought, technically vulnerable stocks is far larger at 43 companies, as we’d expect after the big move higher.

IA Financial Inc. is the most overbought stock in the index, followed by Toromont Industries Ltd. and National Bank of Canada.

Other prominent names on the overbought list include Power Financial Corp., Manulife Financial Corp. and Canadian National Railways.

There are 21 index constituents showing strong price momentum by hitting new 52-week highs this week and they are ranked by market capitalization below.

Royal Bank of Canada is the largest stocks making new highs, followed by Brookfield Asset Management Inc., Manulife Financial Corp., Sun Life Financial Inc., and National Bank of Canada.

Only one S&P/TSX Composite stock is hitting new lows - Canopy Growth Corp.

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Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
RY-TROYAL BANK OF CANADA2.08960820.69158155,420,232,165.66
BAM-A-TBROOKFIELD ASSET MANAGE-CL A2.29301143.8393778,072,731,238.00
MFC-TMANULIFE FINANCIAL CORP5.09580137.5563150,324,939,648.68
SLF-TSUN LIFE FINANCIAL INC3.19851138.6943735,832,908,442.20
NA-TNATIONAL BANK OF CANADA1.42605127.0562323,095,821,141.37
IFC-TINTACT FINANCIAL CORP1.80279642.172819,783,832,113.90
IGM-TIGM FINANCIAL INC7.45224734.806449,516,325,627.66
WSP-TWSP GLOBAL INC4.86736449.141959,104,889,939.48
RBA-TRITCHIE BROS AUCTIONEERS1.19948324.704815,935,892,513.16
TIH-TTOROMONT INDUSTRIES LTD3.76415231.725665,756,756,077.26
DOO-TBRP INC/CA- SUB VOTING2.30157472.203615,412,426,294.60
NPI-TNORTHLAND POWER INC2.28136929.053375,205,886,315.70
EFN-TELEMENT FLEET MANAGEMENT COR3.12569.540585,026,750,505.70
BYD-UN-TBOYD GROUP INCOME FUND5.66777472.3333,787,162,806.88
CWB-TCANADIAN WESTERN BANK5.87706139.290833,079,058,411.88
INE-TINNERGEX RENEWABLE ENERGY0.48661836.601392,257,741,648.40
LB-TLAURENTIAN BANK OF CANADA3.02428228.235031,981,843,463.47
CJT-TCARGOJET INC5.79268348.235781,407,691,729.50
CHR-TCHORUS AVIATION INC3.71318851.419921,354,315,042.80
CAS-TCASCADES INC6.89655232.354211,248,422,096.43
AD-TALARIS ROYALTY CORP9.39734535.31115781,749,610.74

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
WEED-TCANOPY GROWTH CORP-4.557539-31.357558,711,538,483.69

OversoldRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
MFI-TMAPLE LEAF FOODS INC24.4523.1230.190.65-14.1320.7423.64
SMF-TSEMAFO INC25.153.324.22-21.8812.5416.787.34
OR-TOSISKO GOLD ROYALTIES LTD25.5811.1314.37-14.12-6.00230.1931.35
EMA-TEMERA INC26.2453.0452.57-2.7327.0719.87#N/A N/A
PSK-TPRAIRIESKY ROYALTY LTD26.4013.1617.972.33-22.7233.2749.10
PVG-TPRETIUM RESOURCES INC27.7711.7313.06-11.611.3837.678.89
WN-TWESTON (GEORGE) LTD29.55103.86102.06-1.5117.1423.1814.03
BAD-TBADGER DAYLIGHTING LTD30.2232.5642.35-16.562.1017.6915.73
GIL-TGILDAN ACTIVEWEAR INC30.5035.2147.684.64-14.0816.3914.11
AX-U-TARTIS REAL ESTATE INVESTMENT30.6911.7011.56-5.6531.7110.538.42
OverboughtRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
IAG-TIA FINANCIAL CORP INC86.4667.6553.996.6559.2111.1110.37
TIH-TTOROMONT INDUSTRIES LTD84.1970.5764.243.7631.7323.4818.34
NA-TNATIONAL BANK OF CANADA83.6168.9963.211.4327.0611.1410.61
SNC-TSNC-LAVALIN GROUP INC83.1827.4426.6215.25-39.78#N/A N/A14.50
ATA-TATS AUTOMATION TOOLING SYS82.7620.7519.4416.0544.2023.0017.74
STN-TSTANTEC INC81.8132.9330.9517.1911.6721.2014.50
GWO-TGREAT-WEST LIFECO INC81.1532.7730.642.3121.19#N/A N/A10.26
AD-TALARIS ROYALTY CORP80.7321.4219.559.4035.3113.5711.58
IGM-TIGM FINANCIAL INC80.6939.9436.157.4534.8112.8711.66
CWB-TCANADIAN WESTERN BANK79.6735.3130.325.8839.2911.4010.53
WSP-TWSP GLOBAL INC78.9786.1872.904.8749.1427.7920.99
CHR-TCHORUS AVIATION INC78.348.107.533.7151.429.8310.48
CAS-TCASCADES INC76.9413.3310.386.9032.3517.2410.86
DOO-TBRP INC/CA- SUB VOTING76.4960.4544.132.3072.2019.7814.89
KXS-TKINAXIS INC75.5897.6379.9716.0748.15107.2358.21
PWF-TPOWER FINANCIAL CORP74.8932.1329.954.3230.0510.868.86
CIX-TCI FINANCIAL CORP74.8720.3519.476.1621.079.178.22
EFN-TELEMENT FLEET MANAGEMENT COR74.7511.559.423.1369.5417.8711.71
CM-TCAN IMPERIAL BK OF COMMERCE74.69114.98107.822.3817.679.559.32
POW-TPOWER CORP OF CANADA74.5631.7728.994.2335.0310.819.03
MFC-TMANULIFE FINANCIAL CORP74.3625.7823.295.1037.5610.478.31
SLF-TSUN LIFE FINANCIAL INC74.3160.9853.873.2038.6914.7811.45
FFH-TFAIRFAX FINANCIAL HLDGS LTD74.05611.69611.549.623.9725.069.27
RBA-TRITCHIE BROS AUCTIONEERS73.6954.8448.071.2024.7034.8227.93
CNR-TCANADIAN NATL RAILWAY CO73.34125.00119.546.1125.2921.0019.79
BHC-TBAUSCH HEALTH COS INC72.9234.2631.124.6435.68#N/A N/A6.27
BAM-A-TBROOKFIELD ASSET MANAGE-CL A72.6574.5064.592.2943.8411.96#N/A N/A
TSGI-TSTARS GROUP INC/THE72.2328.9022.860.8428.2246.8011.67
CTC-A-TCANADIAN TIRE CORP-CLASS A72.14150.71143.396.148.6114.0011.24
MG-TMAGNA INTERNATIONAL INC72.0574.6366.935.3823.2413.758.56
RUS-TRUSSEL METALS INC71.8022.3922.093.5610.5610.8211.55
CJT-TCARGOJET INC71.29104.1087.005.7948.2465.6277.46
WTE-TWESTSHORE TERMINALS INVESTME71.2223.4821.382.8016.7611.7011.66
BBD-B-TBOMBARDIER INC-B70.891.992.1519.88-1.97#N/A N/A#N/A N/A
TFII-TTFI INTERNATIONAL INC70.5343.3840.493.3625.1512.8310.68
WDO-TWESDOME GOLD MINES LTD70.518.215.571.9985.3335.7417.25
BMO-TBANK OF MONTREAL70.45100.5299.203.1017.3810.9710.27
ATZ-TARITZIA INC-SUBORDINATE VOTI70.3419.3517.613.0917.9926.3020.33
TSX-IS&P/TSX COMPOSITE INDEX70.3316805.7516302.061.9620.3617.2015.64
DRG-UN-TDREAM GLOBAL REAL ESTATE INV70.1316.7014.380.1245.8822.3116.21
IMO-TIMPERIAL OIL LTD70.0635.3635.787.804.1010.1115.30
CP-TCANADIAN PACIFIC RAILWAY LTD70.01311.95295.074.1529.8019.1817.53
MX-TMETHANEX CORP70.0054.6360.789.46-14.8116.6923.70

Source: Bloomberg

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