The S&P/TSX Composite eased lower by 0.2 per cent for the trading week ending with Friday’s close and is now 25.1 per cent higher for 20225. The index’s Relative Strength Index (RSI) of 54 leaves it in technical neutral territory, not far from the midpoint between the overbought sell signal of 70 and the technically attractive, oversold buy signal of 30.
There are eight companies with RSIs below the sell signal this week – Allied Properties REIT, Firstservice Corp., Interfor Corp., Telus Corp., Keyera Corp., West Fraser Timber Co Ltd., Canadian Tire Corp. Ltd. and Maple Leaf Foods Inc.
There are six stocks with RSIs above the sell signal suggesting the risk of a temporary pullback. The stocks are Badger Infrastructure Solutions Ltd., Celestica Inc., TransAlta Corp., Power Corp of Canada, Spartan Delta Corp and Finning International Inc.
There are 11 stocks showing strong price momentum by hitting new 52-week highs this week and they are ranked by market capitalization in a table below. The five biggest companies are Bank of Nova Scotia, National Bank of Canada, Celestica Inc., Power Corp of Canada and iA Financial Corp.
Two stocks are making new 52-week lows – Descartes Systems Group Inc. and West Fraser Timber Co. Ltd.
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