The S&P/TSX Composite was flat for the trading week ending with Friday’s close (or down 0.008 if you want to be a real stickler for accuracy) and stands at 22.7 per cent year to date. The benchmark’s Relative Strength Index (RSI) of 73 leaves it in temporarily vulnerable, overbought territory above the sell signal of 70.
There are 11 stocks trading with attractively oversold RSIs below the 30 buy signal. The most oversold companies are Spin Master Corp., Artis REIT, Kinaxis Inc., Interfor Corp. and Dye & Durham Ltd.
There are 39 index constituents with overbought RSIs above the sell signal, indicating a higher likelihood of a temporary pullback. The most overbought stocks are Sprott Inc., Centerra Gold Inc., Lundin Mining Corp., Novagold Resources Inc. and Blackberry Ltd.
There are 37 stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in a table below. The biggest companies making new highs are TD Bank, Bank of Montreal, Agnico Eagle Mines Ltd., Wheaton Precious Metals Corp. and Franco-Nevada Corp.
There are four stocks making new 52-week lows – Thomson Reuters Corp., Constellation Software Inc., CGI Inc. and Descartes Systems Group.
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