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The S&P/TSX Composite index fell 1.9 per cent for the trading week ending with Thursday’s close and stands 17.7 per cent lower for the year.

Technically speaking, the benchmark’s Relative Strength Index (RSI) reading of 50 puts it exactly half way between the oversold buy signal of 30 and the overbought RSI sell signal of 70.

There are two oversold, technically attractive index constituents this week sporting RSIs below the 30 buy signal. Oilfield services company Pason Systems Inc. is the most oversold stock this week and Baytex Energy Corp. is also oversold.

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Precious metals miners dominate the list of technically vulnerable stocks trading above the overbought sell signal of 70.

Novagold Resources Inc. is the most overbought company in the index, Barrick Gold Corp. and Wheaton Precious Metals Corp. are also on the list. Cameco Corp. is the only non-precious metals overbought stock in the index.

There are seven S&P/TSX Composite companies showing strong price momentum by making new 52-week highs and they are ranked by market capitalization in the table below.

Shopify Inc. is the biggest company making new highs and it’s followed by Barrick Gold Corp, Franco-Nevada Corp., Wheaton Precious Metals Corp., B2Gold Corp., Kinaxis inc. and Jameison Wellness Inc.

Only one index member, Pason Systems Inc., is making new 52-week lows.

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
SHOP-TSHOPIFY INC - CLASS A26.8043.6086,794,581,417
ABX-TBARRICK GOLD CORP11.9446.6162,655,190,972
FNV-TFRANCO-NEVADA CORP9.7930.6333,095,909,486
WPM-TWHEATON PRECIOUS METALS CORP7.5824.9121,538,383,127
BTO-TB2GOLD CORP13.5425.816,772,102,618
KXS-TKINAXIS INC3.5122.613,238,372,940
JWEL-TJAMIESON WELLNESS INC3.3616.411,172,191,680

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
PSI-TPASON SYSTEMS INC-13.73-53.47504,613,898

This week's overbought and oversold stocks

OversoldRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
PSI-TPASON SYSTEMS INC28.745.9713.81-13.73-53.479.4820.59
BTE-TBAYTEX ENERGY CORP29.070.311.52-23.75-83.691.35#N/A N/A
OverboughtRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
NG-TNOVAGOLD RESOURCES INC73.8216.689.9719.4043.55#N/A N/A#N/A N/A
ABX-TBARRICK GOLD CORP73.2135.2424.1111.9446.61105.8433.08
CCO-TCAMECO CORP72.7313.6611.915.0818.37136.16350.26
WPM-TWHEATON PRECIOUS METALS CORP70.0348.1037.177.5824.9160.8640.84

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