The S&P/TSX Composite rose another 0.8 per cent for the trading week ending with Friday’s close and is now up 31.7 year to date. The benchmark’s Relative Strength Index (RSI) of 64 puts it in the neutral technical range although closer to the overbought sell signal of 70 than the RSI buy signal of 30.
There are three oversold stocks trading below the buy signal this week – Telus Corp., Imperial Oil Ltd. and TransAlta Corp.
There are 21 overbought, technically vulnerable index constituents led by Laurentian Bank of Canada, Artis REIT, Toronto-Dominion Bank, Magna International Inc. and Royal Bank of Canada.
There are 32 benchmark stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in a table below. The biggest stocks making new highs are Royal Bank, TD Bank, Barrick Mining Corp., Manulife Financial Corp. and Wheaton Precious Metals Corp.
There area two stocks making new lows – Telus Corp. and GFL Environmental Inc.
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