A tough week for markets saw the S&P/TSX Composite drop another 4.6 per cent for the trading week ending with Friday’s close. The benchmark now sits 11.0 per cent lower for 2022.
The index is not quite officially oversold according to Relative Strength Index (RSI). The current reading of 31 is just above the oversold buy signal of 30.
There are 50 stocks, more than 20 per cent of the index, that are oversold this week and the 25 most oversold are listed in the table below. The top 10, in order, are Transalta Renewables Inc., Corus Entertainment Inc., H&R REIT, Cargojet Inc., Northwest Healthcare Properties REIT, CAE Inc., Superior Plus Corp., Canfor Corp., Maple Leaf Foods Inc. and Algonquin Power and Utilities Corp.
There are, unsurprisingly given market weakness, no stocks trading in overbought territory above the RSI sell signal of 70. There are also no S&P/TSX Composite constituents showing strong price momentum by hitting new 52-week highs. The companies making new 52-week lows are ranked by market capitalization in the table below.
Stocks falling to 52-week lows
Return 1W % Return YTD % Market Cap BNS-T BANK OF NOVA SCOTIA -2.84 -20.75 82,584,973,833 SLF-T SUN LIFE FINANCIAL INC -4.23 -18.89 32,392,636,957 FNV-T FRANCO-NEVADA CORP -1.15 -10.70 29,716,140,143 POW-T POWER CORP OF CANADA -4.45 -20.34 21,673,793,117 MG-T MAGNA INTERNATIONAL INC -6.55 -32.11 19,663,892,477 OTEX-T OPEN TEXT CORP -2.85 -37.52 9,937,458,778 EMP-A-T EMPIRE CO LTD 'A' -2.95 -6.64 9,337,340,412 CHP-UN-T CHOICE PROPERTIES REIT -5.89 -11.82 9,291,333,651 CTC-A-T CANADIAN TIRE CORP-CLASS A -4.97 -15.32 9,250,639,233 TIH-T TOROMONT INDUSTRIES LTD -5.40 -15.53 7,845,000,398 CAR-UN-T CAN APARTMENT PROP REAL ESTA -5.18 -29.58 7,175,305,368 CAE-T CAE INC -8.83 -33.69 6,724,842,143 QBR-B-T QUEBECOR INC -CL B -2.05 -4.98 6,212,186,566 REI-UN-T RIOCAN REAL ESTATE INVST TR -6.65 -16.17 5,780,812,020 PKI-T PARKLAND CORP -3.56 -11.45 4,671,729,746 GRT-UN-T GRANITE REAL ESTATE INVESTME -7.45 -33.30 4,492,446,748 SRU-UN-T SMARTCENTRES REAL ESTATE INV -6.90 -15.70 4,457,238,464 RNW-T TRANSALTA RENEWABLES INC -5.65 -12.73 4,192,429,371 FTT-T FINNING INTERNATIONAL INC -7.99 -22.83 3,700,130,590 AP-UN-T ALLIED PROPERTIES REAL ESTAT -9.56 -34.34 3,563,163,996 CRT-UN-T CT REAL ESTATE INVESTMENT TR -6.86 -9.29 3,526,538,837 CCA-T COGECO COMMUNICATIONS INC -3.89 -24.37 3,419,508,704 HR-UN-T H&R REAL ESTATE INV-REIT UTS -10.03 -10.66 3,030,354,250 DIR-UN-T DREAM INDUSTRIAL REAL ESTATE -6.50 -34.41 2,983,262,946 MX-T METHANEX CORP -10.09 -20.46 2,760,943,651 NWH-UN-T NORTHWEST HEALTHCARE PROPERT -7.09 -16.00 2,663,013,302 MFI-T MAPLE LEAF FOODS INC -9.33 -27.56 2,588,420,131 CRR-UN-T CROMBIE REAL ESTATE INVESTME -6.97 -18.31 2,475,940,755 CFP-T CANFOR CORP -11.91 -37.02 2,473,666,686 TLRY-T TILRAY BRANDS INC -12.97 -58.63 2,256,074,557 CSH-UN-T CHARTWELL RETIREMENT RESIDEN -6.07 -15.93 2,227,528,128 CWB-T CANADIAN WESTERN BANK -6.67 -35.53 2,108,958,564 PXT-T PAREX RESOURCES INC -11.26 -11.26 2,098,930,062 SPB-T SUPERIOR PLUS CORP -6.25 -19.46 2,027,205,469 CJT-T CARGOJET INC -11.75 -32.45 1,937,198,530 KMP-UN-T KILLAM APARTMENT REAL ESTATE -7.81 -32.82 1,773,564,292 IIP-UN-T INTERRENT REAL ESTATE INVEST -7.10 -33.12 1,626,910,548 EQB-T EQB INC -5.10 -31.26 1,594,028,969 LB-T LAURENTIAN BANK OF CANADA -5.57 -21.10 1,339,923,633 ECN-T ECN CAPITAL CORP -6.29 -10.20 1,167,752,973 AX-UN-T ARTIS REAL ESTATE INVESTMENT -9.86 -16.18 1,121,976,108 DPM-T DUNDEE PRECIOUS METALS INC -4.77 -27.48 1,077,146,201 ASTL-T ALGOMA STEEL GROUP INC -7.96 -23.88 1,071,957,968 SIL-T SILVERCREST METALS INC -10.34 -33.20 977,409,344 SIA-T SIENNA SENIOR LIVING INC -7.14 -15.02 890,832,000 PLC-T PARK LAWN CORP -4.30 -41.15 826,630,825 TXG-T TOREX GOLD RESOURCES INC -5.04 -34.14 743,407,377 CF-T CANACCORD GENUITY GROUP INC -7.50 -52.88 685,372,703 EDR-T ENDEAVOUR SILVER CORP -10.28 -33.08 678,870,868 IMG-T IAMGOLD CORP -13.92 -65.48 651,387,883 CJR-B-T CORUS ENTERTAINMENT INC-B SH -8.68 -46.61 485,917,806
Oversold stocks on the TSX
OVERSOLD STOCKS RSI 14D PX LAST MOV_AVG_200D LAST_CLOSE_TRR_1WK LAST_CLOSE_TRR_YTD PE_RATIO BEST_PE_RATIO RNW-T TRANSALTA RENEWABLES INC 16.35 15.71 17.56 -5.65 -12.73 30.50 21.20 CJR-B-T CORUS ENTERTAINMENT INC-B SH 17.14 2.42 4.32 -8.68 -46.61 3.50 4.35 HR-UN-T H&R REAL ESTATE INV-REIT UTS 18.67 11.03 12.87 -10.03 -10.66 8.23 15.13 CJT-T CARGOJET INC 20.22 111.82 155.87 -11.75 -32.45 9.90 16.25 NWH-UN-T NORTHWEST HEALTHCARE PROPERT 20.29 11.14 13.14 -7.09 -16.00 11.25 #N-A N-A CAE-T CAE INC 21.44 21.16 30.80 -8.83 -33.69 32.37 19.22 SPB-T SUPERIOR PLUS CORP 21.55 10.05 11.85 -6.25 -19.46 30.36 25.13 CFP-T CANFOR CORP 22.03 20.19 26.63 -11.91 -37.02 2.13 6.33 MFI-T MAPLE LEAF FOODS INC 22.52 20.71 27.34 -9.33 -27.56 38.75 17.92 AQN-T ALGONQUIN POWER & UTILITIES 23.63 16.97 18.18 -3.19 -4.83 24.83 16.21 SIA-T SIENNA SENIOR LIVING INC 23.82 12.22 14.15 -7.14 -15.02 178.62 #N-A N-A AX-UN-T ARTIS REAL ESTATE INVESTMENT 24.27 9.69 12.12 -9.86 -16.18 6.02 7.34 AP-UN-T ALLIED PROPERTIES REAL ESTAT 24.38 28.00 39.41 -9.56 -34.34 35.55 #N-A N-A IFP-T INTERFOR CORP 24.93 25.19 34.15 -12.78 -37.82 1.78 6.14 CHE-UN-T CHEMTRADE LOGISTICS INCOM FD 24.96 7.26 7.88 -10.81 3.13 #N-A N-A 18.76 LB-T LAURENTIAN BANK OF CANADA 25.10 31.00 40.53 -5.57 -21.10 6.40 6.17 OTEX-T OPEN TEXT CORP 25.38 36.83 52.01 -2.85 -37.52 16.31 8.30 REAL-T REAL MATTERS INC 25.40 4.79 5.75 -15.82 -42.29 1.20 83.54 CSH-UN-T CHARTWELL RETIREMENT RESIDEN 25.43 9.60 11.74 -6.07 -15.93 #N-A N-A #N-A N-A CIGI-T COLLIERS INTERNATIONAL GROUP 26.13 134.86 160.49 -8.58 -28.31 36.89 12.17 SRU-UN-T SMARTCENTRES REAL ESTATE INV 26.59 26.05 30.10 -6.90 -15.70 15.02 12.90 SMU-UN-T SUMMIT INDUSTRIAL INCOME REI 26.95 16.73 20.04 -7.31 -27.42 26.59 #N-A N-A CWB-T CANADIAN WESTERN BANK 26.99 22.68 32.08 -6.67 -35.53 6.15 6.10 MX-T METHANEX CORP 27.14 39.37 57.21 -10.09 -20.46 4.47 6.96 D-UN-T DREAM OFFICE REAL ESTATE INV 27.21 16.41 23.00 -7.81 -31.40 5.33 #N-A N-A
Source: Bloomberg
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