The S&P/TSX Composite eased lower by 0.2 per cent for the trading week ending with Friday’s close and now sits 16.9 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 57 puts it in neutral territory although closer to the overbought sell signal of 70 than the technically attractive, oversold buy signal of 30.
There are four index constituents with RSIs below the buy signal this week. Dye and Durham is the most oversold stock followed by Allied Properties REIT, Alimentation Couche-Tard Inc. and Smartcentre REIT. There is only one overbought company this week – Jamieson Wellness Inc.
There is one stock showing strong price momentum by hitting a new 52-week - Secure Waste Infrastructure Corp. There is also one company hitting a new 52-week low and that is Premium Brands Holdings Corp.