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The S&P/TSX Composite index was higher by another 1.1 per cent for the trading week ending with Thursday’s close and stands 21.6 per cent higher for 2019.

The big news this week is that the benchmark itself is overbought, according to Relative Strength Index (RSI), indicating a higher likelihood of a temporary market correction in the days ahead. The index’s RSI of 77 is well above the overbought signal of 70.

There are six oversold, technically attractive benchmark constituents trading with RSIs below the oversold buy signal of 30.

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Shawcor Ltd. is the most oversold stock in the index with Semafo Inc., Pason Systems Inc., Hexo Corp., Canopy Growth Corp. and Maple Leaf Foods Inc. lining up behind.

There are a large number of TSX stocks – 42 – trading at overbought levels with RSI readings above 70.

Alaris Royalty Corp. is the most overbought company in the index, followed by National Bank of Canada, Power Financial Corp., Home Capital Group Inc., Bausch Health Co.s Inc., and Gibson Energy Inc.

Widely-held names in the rest of the list include SNC-Lavalin Group Inc., Manulife Financial Corp and Canadian Pacific Railway Inc.

There are 26 stocks showing strong price momentum by hitting new 52-week highs this week and they are ranked by market capitalization in the accompanying table. The largest company making new highs is Brookfield Asset Management Inc.. CGI Inc., Air Canada and Cominar REIT are also on the list.

Canopy Growth Corp is the biggest company making new 52-week lows with competitor Aurora Cannabis Inc. right behind. Cronos Group Inc., Pason Systems Inc., Fronterra Energy Corp. Hexo Corp. and Gran Tierra Energy Inc. make up the remainder of the list.

Stocks jumping to 52-week highs

Return 1W %Return YTD %Market Cap
BAM-A-TBROOKFIELD ASSET MANAGE-CL A2.77852347.8359880,242,000,414.68
GIB-A-TCGI INC2.13516428.3233528,797,424,950.35
BIP-UN-TBROOKFIELD INFRASTRUCTURE PA2.95052249.4613226,870,167,759.31
NA-TNATIONAL BANK OF CANADA0.942165628.2533123,313,422,007.32
BEP-UN-TBROOKFIELD RENEWABLE PARTNER3.95201174.6488818,182,952,356.54
AC-TAIR CANADA4.16226589.9075513,118,557,745.80
BHC-TBAUSCH HEALTH COS INC7.35551645.6633712,962,420,161.26
CTC-A-TCANADIAN TIRE CORP-CLASS A2.89297311.75029,732,484,268.82
WSP-TWSP GLOBAL INC0.0232072449.176569,107,002,933.20
IAG-TIA FINANCIAL CORP INC0.44345959.916767,249,174,334.55
PKI-TPARKLAND FUEL CORP4.98791538.473347,061,837,940.08
RBA-TRITCHIE BROS AUCTIONEERS2.46170727.774676,082,016,781.81
CCA-TCOGECO COMMUNICATIONS INC6.16044180.50025,741,612,842.60
NPI-TNORTHLAND POWER INC1.52416431.020365,290,732,050.43
GEI-TGIBSON ENERGY INC6.13496944.996943,775,392,346.95
GRT-UN-TGRANITE REAL ESTATE INVESTME2.10351131.647263,646,288,159.41
CPX-TCAPITAL POWER CORP2.59822627.320563,622,206,347.10
KXS-TKINAXIS INC4.74239555.174512,681,946,943.70
CUF-UN-TCOMINAR REAL ESTATE INV-TR U5.98354532.826032,579,601,554.79
INE-TINNERGEX RENEWABLE ENERGY2.96610240.653132,371,293,202.32
BLX-TBORALEX INC -A7.44101644.292242,121,136,142.08
BLDP-TBALLARD POWER SYSTEMS INC14.60526165.54882,033,876,690.17
HCG-THOME CAPITAL GROUP INC26.44928142.36112,000,852,388.60
DIR-UN-TDREAM INDUSTRIAL REAL ESTATE2.53542151.659311,871,088,381.25
CHR-TCHORUS AVIATION INC1.23456853.28931,371,034,981.60
SVM-TSILVERCORP METALS INC17.15328126.48931,106,804,520.36

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
WEED-TCANOPY GROWTH CORP-16.59371-42.747887,265,970,816.48
ACB-TAURORA CANNABIS INC-7.00637-35.398234,469,256,914.58
CRON-TCRONOS GROUP INC-13.67113-37.204453,104,190,789.21
PSI-TPASON SYSTEMS INC-4.829545-24.52321,143,004,884.80
FEC-TFRONTERA ENERGY CORP-9.725906-14.705441,000,121,632.26
HEXO-THEXO CORP-15.01707-47.13376639,886,434.96
GTE-TGRAN TIERRA ENERGY INC-6.382979-55.7047493,228,614.01

OversoldRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
SCL-TSHAWCOR LTD23.6012.0517.81-13.68-25.5340.1759.65
SMF-TSEMAFO INC24.152.754.22-17.17-6.7813.866.06
PSI-TPASON SYSTEMS INC26.0913.4018.13-4.83-24.5217.8721.54
HEXO-THEXO CORP28.562.496.83-15.02-47.13#N/A N/A#N/A N/A
WEED-TCANOPY GROWTH CORP29.0120.9648.42-16.59-42.75#N/A N/A#N/A N/A
MFI-TMAPLE LEAF FOODS INC29.8623.1430.030.09-14.0620.7625.80
OverboughtRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
AD-TALARIS ROYALTY CORP84.6222.0219.632.8039.1013.9512.07
NA-TNATIONAL BANK OF CANADA84.3969.6463.420.9428.2511.2510.72
PWF-TPOWER FINANCIAL CORP82.5133.1830.103.2734.3011.219.39
HCG-THOME CAPITAL GROUP INC81.3034.9020.9626.45142.3616.5411.69
BHC-TBAUSCH HEALTH COS INC80.9636.7831.227.3645.66#N/A N/A6.17
GEI-TGIBSON ENERGY INC80.7925.9522.806.1345.0022.4023.70
GWO-TGREAT-WEST LIFECO INC80.2333.1630.751.1922.63#N/A N/A10.39
BAM-A-TBROOKFIELD ASSET MANAGE-CL A80.0676.5765.092.7847.8411.62#N/A N/A
KXS-TKINAXIS INC80.02102.2680.564.7455.17111.9960.52
CTC-A-TCANADIAN TIRE CORP-CLASS A78.59155.07143.562.8911.7514.4011.33
IAG-TIA FINANCIAL CORP INC78.3567.9554.460.4459.9211.4810.33
POW-TPOWER CORP OF CANADA78.3432.3529.161.8337.4911.019.51
INE-TINNERGEX RENEWABLE ENERGY77.2026617.0114.77952.96610240.65313109.1112038123.2608696
CHR-TCHORUS AVIATION INC77.083318.27.55751.23456853.289312.4382257210.31446541
TSX-IS&P/TSX COMPOSITE INDEX76.8058916972.1816341.581.06228521.6407917.2879848915.69599958
DOO-TBRP INC/CA- SUB VOTING76.7650961.6544.70441.98511275.6220520.1744332615.18847007
STN-TSTANTEC INC76.7134.5131.044.8017.0322.2215.06
SNC-TSNC-LAVALIN GROUP INC76.6027.2826.21-0.51-40.08#N/A N/A14.89
CAE-TCAE INC76.5136.0032.507.1144.8928.5324.16
WSP-TWSP GLOBAL INC76.2786.2073.450.0249.1827.8021.09
BLX-TBORALEX INC -A76.1423.6819.987.4444.29#N/A N/A#N/A N/A
QBR-B-TQUEBECOR INC -CL B76.1033.3031.347.7716.9116.15#N/A N/A
KEY-TKEYERA CORP75.5633.7432.125.8037.0917.1416.74
RBA-TRITCHIE BROS AUCTIONEERS75.3656.1948.262.4627.7735.5828.21
OTEX-TOPEN TEXT CORP75.0157.5252.856.0730.9335.1215.05
MFC-TMANULIFE FINANCIAL CORP74.9926.2623.421.8640.1210.678.43
RUS-TRUSSEL METALS INC74.4322.9822.092.6413.4811.1011.56
TIH-TTOROMONT INDUSTRIES LTD74.0770.1264.55-0.6430.8923.3318.22
CIX-TCI FINANCIAL CORP73.9620.9719.543.0524.769.458.36
EIF-TEXCHANGE INCOME CORP73.9143.7936.479.3163.1319.5113.46
BEP-UN-TBROOKFIELD RENEWABLE PARTNER73.8158.9246.273.9574.65218.6970.34
PKI-TPARKLAND FUEL CORP73.1747.7841.684.9938.4718.5732.75
BIP-UN-TBROOKFIELD INFRASTRUCTURE PA72.9668.0458.302.9549.46#N/A N/A55.59
CPX-TCAPITAL POWER CORP72.9181132.3830.59912.59822627.3205615.560403287.934329821
SLF-TSUN LIFE FINANCIAL INC72.4268161.0454.205550.0983929238.8308414.7985840811.4952919
CP-TCANADIAN PACIFIC RAILWAY LTD72.27735316.67296.1741.51306331.7591719.4714224717.79844874
DRG-UN-TDREAM GLOBAL REAL ESTATE INV72.266316.7414.46830.23952146.2298922.3674485116.25242718
RNW-TTRANSALTA RENEWABLES INC72.0808214.6313.47653.43410750.559421.71502718#N/A N/A
TSGI-TSTARS GROUP INC/THE71.9974628.9922.990150.311418728.6157946.8099824711.81078635
SVM-TSILVERCORP METALS INC71.879976.424.0244517.15328126.489322.7472355620.04755198
BLDP-TBALLARD POWER SYSTEMS INC71.593738.715.5087514.60526165.5488#N/A N/A#N/A N/A
T-TTELUS CORP71.2644550.348.354152.1319815.0270317.6546047616.63910023

Source: Bloomberg

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