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The S&P/TSX Composite was 1.3 per cent higher for the trading week ending with Thursday’s close and is now a mere 6.8 per cent lower year-to-date.

Technically speaking, the benchmark’s current Relative Strength Index (RSI) of 57 puts it in the higher band of neutral territory, closer to the RSI sell signal of 70 than the oversold buy signal of 30.

After months of having no oversold, technically attractive index members to discuss we finally have one, Cineplex Inc.

The company’s RSI of 22 leaves it deeply oversold after falling more than 26 per cent for the week. Corus Entertainment Inc. is the next most oversold stock but its RSI, at 34, is not yet below the buy signal of 30.

There are eight stocks trading at technically vulnerable, overbought levels above the RSI sell signal of 70.

Shopify Inc. has been overbought for a while and has yet to suffer a significant correction. It’s the most overbought company this week again, followed by TFI International Inc., Enghouse Systems Inc., Ballard Power Systems Inc., Spin Master Corp., Descartes Systems Group, Jamieson Wellness Inc. and Seabridge Gold Inc.

There are nine S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs and they ae ranked by market capitalization in the table below. Shopify is the largest company making new highs , followed by Northland Power Inc., Descartes Systems Group, Ballard Power Systems Inc., Kinaxis Inc., TFI International, Enghouse Systems, Real Matters Inc. and Jamieson Wellness.

Cineplex Inc. is the one index stock making new 52-week lows.

Stocks falling to 52-week lows

Return 1W %Return YTD %Market Cap
CGX-TCINEPLEX INC-26.48699-76.52862500965912.6

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
SHOP-TSHOPIFY INC - CLASS A11.71853170.69731.66856E+11
NPI-TNORTHLAND POWER INC2.4186428.658686657111110
DSG-TDESCARTES SYSTEMS GRP/THE4.63924932.486496188175681
BLDP-TBALLARD POWER SYSTEMS INC22.5924153.77155740889522
KXS-TKINAXIS INC3.217608103.01945386759029
TFII-TTFI INTERNATIONAL INC7.97474714.377514301274034
ENGH-TENGHOUSE SYSTEMS LTD3.52161356.274894122569423
REAL-TREAL MATTERS INC11.55839127.19162363234186
JWEL-TJAMIESON WELLNESS INC3.56935639.66921415017883

This week's overbought and oversold stocks

OversoldRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
CGX-TCINEPLEX INC22.334297.9122.5769-26.48699-76.5286220.11663029#N/A N/A
OverboughtRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
SHOP-TSHOPIFY INC - CLASS A81.841397.61661.9911.72170.70#N/A N/A3188.86
TFII-TTFI INTERNATIONAL INC80.5749.3640.727.9714.3814.2617.78
ENGH-TENGHOUSE SYSTEMS LTD74.3874.9649.023.5256.2748.9043.48
BLDP-TBALLARD POWER SYSTEMS INC72.9823.5511.8922.59153.77#N/A N/A#N/A N/A
TOY-TSPIN MASTER CORP-SUB VTG SHR72.7225.0029.356.29-36.7726.0134.44
DSG-TDESCARTES SYSTEMS GRP/THE72.6673.5356.934.6432.49107.90#N/A N/A
JWEL-TJAMIESON WELLNESS INC71.4535.6927.603.5739.6739.8532.74
SEA-TSEABRIDGE GOLD INC71.3323.7817.489.7432.41#N/A N/A#N/A N/A

Source: Bloomberg

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