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The S&P/TSX Composite climbed another 1.8 per cent for the trading week ending with Thursday’s close, and, remarkably, the benchmark is lower by only 2.6 per cent for the year.

The index is approaching overbought, technically vulnerable territory, according to Relative Strength Index (RSI). The current reading of 66 is very close to the RSI sell signal of 70.

There are no benchmark members trading in the official oversold range below the RSI buy signal of 30, but two are right on the border. Frontera Energy Corp. and Brookfield Business Partners LP are both just below 31.

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There are 26 S&P/TSX Composite stocks with RSIs above the 70 sell signal that indicates a higher likelihood of a short-term correction. TFI International Inc. is again the most overbought company in the index, followed by West Fraser Timber Co. Ltd., Norbord Inc., Granite REIT and Mullen Group Ltd. Other notable names on the overbought list include Celestica Inc., Hydro One Ltd. and Home Capital Group Inc.

There are 12 index constituents showing strong price momentum by hitting new 52-weeks highs and they are ranked by market capitalization in the table below. The seemingly unstoppable Shopify Inc. is again making new highs along with Alimentation Couche-Tard Inc. and Kirkland Lake Gold Ltd.

The are no benchmark stocks hitting new 52-week lows.

Stocks hitting 52-week highs

Return 1W %Return YTD %Market Cap
SHOP-TSHOPIFY INC - CLASS A13.54173.67169,722,072,285
ATD-B-TALIMENTATION COUCHE-TARD -B2.9115.4252,751,288,785
AEM-TAGNICO EAGLE MINES LTD9.5027.7624,512,924,919
KL-TKIRKLAND LAKE GOLD LTD7.2720.2418,853,305,090
FSV-TFIRSTSERVICE CORP5.1632.537,140,345,996
RBA-TRITCHIE BROS AUCTIONEERS4.2612.756,732,923,199
TFII-TTFI INTERNATIONAL INC7.9233.845,033,257,460
WFT-TWEST FRASER TIMBER CO LTD11.8416.754,545,790,023
GRT-UN-TGRANITE REAL ESTATE INVESTME6.2121.914,537,984,387
INE-TINNERGEX RENEWABLE ENERGY0.8536.083,922,021,499
REAL-TREAL MATTERS INC9.05150.322,603,863,605
JWEL-TJAMIESON WELLNESS INC3.1351.021,529,995,520

Overbought and oversold stocks on the TSX

OversoldRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
FEC-TFRONTERA ENERGY CORP30.522.856.64-12.04-68.28#N/A N/A#N/A N/A
BBU-UN-TBROOKFIELD BUSINESS PT-UNNIT30.6088637.1847.5815-7.235529-30.54955#N/A N/A#N/A N/A
OVERBOUGHTRSIPrice200DMAReturn 1W %Return YTD %PE Ratio TTMPE Ratio Fwd
TFII-TTFI INTERNATIONAL INC85.2157.7642.107.9233.8417.1915.49
WFT-TWEST FRASER TIMBER CO LTD79.8766.2048.7211.8416.75#N/A N/A14.03
OSB-TNORBORD INC79.1443.6231.735.4426.50#N/A N/A21.00
GRT-UN-TGRANITE REAL ESTATE INVESTME79.0078.4666.736.2121.9125.77#N/A N/A
MTL-TMULLEN GROUP LTD77.959.707.4111.977.4817.0118.16
PBH-TPREMIUM BRANDS HOLDINGS CORP77.2795.1387.794.026.1736.0235.56
ITP-TINTERTAPE POLYMER GROUP INC76.6016.0314.174.980.5011.6915.48
FSV-TFIRSTSERVICE CORP76.44159.60126.695.1632.5380.3239.00
IFP-TINTERFOR CORP76.3915.7712.148.467.50#N/A N/A25.19
RBA-TRITCHIE BROS AUCTIONEERS75.8662.2355.524.2612.7533.5534.79
IVN-TIVANHOE MINES LTD-CL A75.284.663.3910.179.65#N/A N/A#N/A N/A
CLS-TCELESTICA INC75.1911.209.0717.153.9931.2510.45
CFP-TCANFOR CORP74.4916.2812.146.5434.10#N/A N/A16.61
EQB-TEQUITABLE GROUP INC74.2681.5187.2415.34-24.677.486.75
WPK-TWINPAK LTD73.3447.6544.845.841.5721.3821.67
SJ-TSTELLA-JONES INC73.0140.5435.497.289.0517.0616.87
JWEL-TJAMIESON WELLNESS INC72.6938.5928.943.1351.0243.0935.40
IFC-TINTACT FINANCIAL CORP72.51147.01136.426.826.0327.0018.02
EFN-TELEMENT FLEET MANAGEMENT COR72.2511.6410.6916.985.9737.3713.39
H-THYDRO ONE LTD71.7928.3925.822.1215.3617.4920.40
ZZZ-TSLEEP COUNTRY CANADA HOLDING71.7719.5617.173.06-2.3113.6322.03
K-TKINROSS GOLD CORP71.1111.707.566.1789.9421.3914.62
KL-TKIRKLAND LAKE GOLD LTD71.0968.3354.267.2720.2416.5815.86
HCG-THOME CAPITAL GROUP INC70.2523.3425.2314.69-29.199.857.67
GIB-A-TCGI INC70.1895.6295.469.02-12.0119.6218.94
AEM-TAGNICO EAGLE MINES LTD70.02101.4678.319.5027.7662.9428.40

Source: Bloomberg

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