The S&P/TSX Composite fell a scant 0.2 per cent for the trading week ending with Thursday’s close and sits 8.0 per cent lower for 2020 so far.
The benchmark is in technically neutral territory according to Relative Strength Index (RSI) with a reading of 53 that is close to the midpoint between the oversold RSI buy signal of 30 and the overbought sell signal of 70.
Once again there are no technically attractive, oversold index members ending the week with an RSI below 30. Cineplex Inc. and Arc Resources Ltd. are closest with RSIs of 34 and 35 respectively.
There are five stocks trading at technically vulnerable levels above the RSI sell signal of 70. Primo Water Corp. is the most overbought stock in the benchmark, followed by Enghouse Systems Ltd., Shopify Inc., CargoKet Inc. and North West Co. Inc.
There are five stocks displaying strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below.
Shopify Inc. is the biggest company making new highs, followed by Northland Power Inc., Kinaxis Inc., Enghouse Systems Ltd. and Jamieson Wellness Inc.
There are no S&P/TSX Composite stocks hitting new 52-week lows this week.
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