The S&P/TSX Composite fell 1.1 per cent for the trading week ending with Friday’s close and sits 0.25 per cent higher for the year so far. The benchmark’s Relative Strength Index (RSI) of 44 leaves it in technical neutral territory although a bit closer to the oversold RSI buy signal of 30 than the overbought sell signal of 70.
There are 12 technically attractive index constituents this week with RSIs below 30. Saputo Inc. is th3e most oversold company, followed by Rogers Communications Inc., Boralex Inc., Restaurant Brands International Inc. and Algoma Steel Group Inc. Bank of Nova Scotia is also on the list.
There are eight benchmark stocks trading with RSIs above the 70 sell signal led by Aritizia Inc., Birchcliff Energy Ltd., Spartan Delta Corp., CI Financial Corp and Blackberry Ltd.
There are four stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. The companies are Celestica Inc., Aritizia Inc., Blackberry Ltd. and NGEX Minerals Ltd.
There are ten stocks making new lows, the largest of which are Canadian National Railway Co., Restaurant Brands International, Rogers Communications and Saputo.
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