The S&P/TSX Composite jumped 2.6 per cent for the trading week ending with Thursday’s close and now sits 15.5 per cent lower for the year.
The benchmark’s Relative Strength Index (RSI) reading of 53 puts it in technically neutral territory between the oversold RSI buy signal of 30 and the overbought sell signal at 70.
The strong rally leaves no index member stocks trading at technically attractive RSI levels below the buy signal of 30. Shawcor Ltd. and Bombardier Inc. are closest at 34 and 35 respectively.
There are 15 benchmark companies trading at overbought levels, according to RSI.
Three precious metals miners – Wheaton Precious Metals Corp., Barrick Gold Corp., and Agnico Eagle Mines – top the list of most extended stocks. Jamieson Wellness Inc., Cameco Corp., Knight Therapeutics Inc., and CargoJet Inc. are also listed on the table below.
There are 12 S&P/TSX Composite Companies showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization below. The seven largest companies make new highs are again from the precious metals sector.
There are no benchmark companies hitting new 52-week lows .
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