The S&P/TSX Composite eked out a 0.4 per cent climb in the week ending with Friday’s close and now sits 14.8 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 46 leaves it close to the midpoint between the technically attractive, oversold buy signal of 30 and the technically vulnerable RSI sell signal at 70.
There are nine index constituents with attractive RSI below the buy signal this week. The top five are Allied Properties REIT, Smartcentres REIT, Crombie REIT, Telus Corp and Dye & Durham. There are no benchmark stocks with overbought RSI readings above 70.
There is one stock showing strong price momentum by hitting a new 52-week high and that is Montage Gold Corp. Companies making new lows are Allied Properties REIT, Boardwalk REIT, H&R REIT and Telus Corp.