The S&P/TSX Composite fell 1.8 per cent for the trading week ending with Friday’s close and is now only 1.3 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 37 is in technically neutral territory although much closer to the oversold RSI buy signal of 30 than the overbought sell signal of 70.
There are 43 stocks, a good chunk of the index, ending the week with technically attractive oversold RSIs below 30. The five most oversold companies are Algonquin Power and Utilities Corp., Air Canada, Colliers International Group Inc., Innergex Renewable Energy Inc. and Laurentian Bank of Canada.
There is only one stock, Barrick Gold Corp., with an RSI above the overbought sell signal of 70. Parkland Corp is right at 70.
Thanks to market weakness, there are no S&P/TSX Composite members showing strong price momentum by hitting new 52-week highs. There are 23 companies making new 52-week lows and they are sorted by market capitalization in the table below. The five largest stocks at new lows are all banks – Royal Bank of Canada, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and National Bank of Canada.
Stocks falling to 52-week lows
Return 1W % Return YTD % Market Cap RY-T ROYAL BANK OF CANADA -3.08 -10.14 155,672,593,355 BMO-T BANK OF MONTREAL -3.40 -10.34 76,606,914,092 BNS-T BANK OF NOVA SCOTIA -4.48 -8.90 68,318,947,458 CM-T CAN IMPERIAL BK OF COMMERCE -4.66 -6.91 44,958,328,474 NA-T NATIONAL BANK OF CANADA -2.95 -3.61 28,798,663,414 RCI-B-T ROGERS COMMUNICATIONS INC-B -4.28 -18.18 26,739,872,778 WN-T WESTON (GEORGE) LTD -2.92 -12.34 19,834,617,083 BIP-UN-T BROOKFIELD INFRASTRUCTURE PA -10.35 -21.41 18,970,471,574 EMA-T EMERA INC -5.18 -11.11 12,151,374,333 SAP-T SAPUTO INC -3.45 -18.40 11,365,739,516 CTC-A-T CANADIAN TIRE CORP-CLASS A -2.68 -0.19 8,126,671,634 IGM-T IGM FINANCIAL INC -5.08 -12.71 7,520,058,081 AC-T AIR CANADA -5.52 -13.46 6,015,109,937 REI-UN-T RIOCAN REAL ESTATE INVST TR -5.14 -16.42 5,097,092,230 NPI-T NORTHLAND POWER INC -7.48 -44.29 5,081,753,302 AQN-T ALGONQUIN POWER & UTILITIES -12.13 -18.59 4,739,031,527 GRT-UN-T GRANITE REAL ESTATE INVESTME -6.14 -0.94 4,231,315,303 KXS-T KINAXIS INC -2.70 -11.63 3,824,331,017 TA-T TRANSALTA CORP -5.95 -11.37 3,281,472,881 BLX-T BORALEX INC -A -8.24 -34.80 2,644,171,856 CCA-T COGECO COMMUNICATIONS INC -7.64 -22.87 2,551,044,477 AP-UN-T ALLIED PROPERTIES REAL ESTAT -7.67 -32.67 2,067,907,676 EIF-T EXCHANGE INCOME CORP -2.36 -14.19 2,021,738,966 INE-T INNERGEX RENEWABLE ENERGY -9.77 -44.01 1,773,223,329 GOOS-T CANADA GOOSE HOLDINGS INC -5.56 -30.81 1,704,419,393 CFP-T CANFOR CORP -1.05 -33.36 1,701,372,702 BLDP-T BALLARD POWER SYSTEMS INC -7.86 -29.48 1,364,555,939 LB-T LAURENTIAN BANK OF CANADA -5.40 -17.29 1,113,828,689 NWH-UN-T NORTHWEST HEALTHCARE PROPERT -7.22 -51.95 1,024,531,734 JWEL-T JAMIESON WELLNESS INC -5.07 -32.03 984,568,041 TCL-A-T TRANSCONTINENTAL INC-CL A -2.61 -26.85 914,909,605 DND-T DYE & DURHAM LTD -9.81 -33.66 596,259,005 PLC-T PARK LAWN CORP -4.75 -32.23 591,541,538
Overbought and oversold stocks on the TSX
OVERSOLD SOCKS RSI 14D PX LAST MOV_AVG_200D LAST_CLOSE_TRR_1WK LAST_CLOSE_TRR_YTD PE_RATIO BEST_PE_RATIO AQN-T ALGONQUIN POWER & UTILITIES 16.60126 6.88 10.36135 -12.13282 -18.59467 33.70241635 8.466775996 AC-T AIR CANADA 16.83599 16.78 21.30815 -5.518018 -13.46055 23.18726923 5.019443614 CIGI-T COLLIERS INTL GR-SUBORD VOT 19.94094 119.66 138.9507 -4.233694 -3.647035 52.56047096 11.95235973 INE-T INNERGEX RENEWABLE ENERGY 20.08621 8.68 13.57965 -9.77131 -44.00608 15.17280974 263.030303 LB-T LAURENTIAN BANK OF CANADA 20.41763 25.57 33.97195 -5.401406 -17.29428 5.336221549 5.353852596 IGM-T IGM FINANCIAL INC 20.78535 31.58 39.6035 -5.079651 -12.70633 9.773374062 8.558265583 CFP-T CANFOR CORP 20.88167 14.2 20.9861 -1.045296 -33.36462 #N/A N/A #N/A N/A WTE-T WESTSHORE TERMINALS INVESTME 21.1288 23.47 27.89415 -0.9704641 8.682707 19.01453296 14.25015179 NWH-UN-T NORTHWEST HEALTHCARE PROPERT 21.21301 4.24 7.7208 -7.221006 -51.94978 5.609325996 9.485458613 TCL-A-T TRANSCONTINENTAL INC-CL A 22.18694 10.46 13.8041 -2.607076 -26.84544 7.855807656 5.496584341 ERO-T ERO COPPER CORP 22.48616 18.94 24.6197 -5.157737 1.609442 22.00333831 13.27741623 BLX-T BORALEX INC -A 22.62687 25.73 36.16135 -8.238231 -34.80159 29.10468813 26.09533469 ATS-T ATS CORP 22.67841 48.59 56.63515 -9.363925 15.4431 28.70526221 17.63702359 KXS-T KINAXIS INC 24.49238 134.25 169.2454 -2.70329 -11.6253 277.3787345 65.09717161 RUS-T RUSSEL METALS INC 24.86546 33.71 35.5941 -3.768199 20.91051 6.841742849 9.416201117 CIX-T CI FINANCIAL CORP 25.21 13.78 14.97005 -8.560053 5.933938 5.841455656 3.941647597 PLC-T PARK LAWN CORP 25.22751 17.26 24.6421 -4.746137 -32.22515 17.24505432 12.68457346 BB-T BLACKBERRY LTD 25.97211 4.64 6.0982 -1.902748 5.215419 #N/A N/A #N/A N/A GRT-UN-T GRANITE REAL ESTATE INVESTME 26.12826 66.38 78.74515 -6.136878 -0.941309 10.75082955 #N/A N/A ATRL-T SNC-LAVALIN GROUP INC 26.42499 39.03 34.921 -8.380281 63.85803 47.08718039 23.20451843 DIR-UN-T DREAM INDUSTRIAL REAL ESTATE 26.57922 11.96 13.95395 -5.678234 6.208479 15.83453708 #N/A N/A BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 26.62793 31.86 45.28505 -10.35453 -21.41194 #N/A N/A 25.69103006 CTC-A-T CANADIAN TIRE CORP-CLASS A 26.79214 137.08 166.1716 -2.676606 -0.1906806 9.482691897 9.172912206 DND-T DYE & DURHAM LTD 26.97604 10.85 17.60985 -9.808811 -33.66234 #N/A N/A #N/A N/A ECN-T ECN CAPITAL CORP 27.00784 2.03 2.8206 -13.24786 -26.16489 #N/A N/A 11.0554281 POW-T POWER CORP OF CANADA 27.3568 32.99 35.8999 -4.955344 8.346741 10.01153851 7.909374251 CAE-T CAE INC 27.84036 28.64 30.17465 -6.435805 9.354715 27.31021061 22.32268122 MTY-T MTY FOOD GROUP INC 27.93012 51.73 61.9114 1.650619 -8.296227 11.81238731 13.35657113 NPI-T NORTHLAND POWER INC 27.94599 20.05 29.52405 -7.475773 -44.29419 12.22001342 14.39339555 GOOS-T CANADA GOOSE HOLDINGS INC 27.99054 16.66 23.84035 -5.555555 -30.81395 16.85733177 13.66694011 BNS-T BANK OF NOVA SCOTIA 28.14881 56.68 66.23655 -4.482642 -8.895681 8.313245723 8.101772441 AP-UN-T ALLIED PROPERTIES REAL ESTAT 28.17287 16.25 23.28385 -7.670455 -32.6734 #N/A N/A 7.540603248 CAR-UN-T CAN APARTMENT PROP REAL ESTA 28.59046 42.26 48.4788 -6.525105 1.249658 23.66672938 16.83665339 CM-T CAN IMPERIAL BK OF COMMERCE 28.7636 48.64 56.7409 -4.664837 -6.914715 8.332725063 7.194202041 TA-T TRANSALTA CORP 29.09991 10.59 12.4254 -5.950266 -11.37296 11.55249639 13.62934363 IAG-T IA FINANCIAL CORP INC 29.50186 79.49 86.40445 -5.097899 2.874855 6.829806264 7.982526612 IFP-T INTERFOR CORP 29.50723 17.32 22.44515 0.8736168 -17.52381 #N/A N/A #N/A N/A PBH-T PREMIUM BRANDS HOLDINGS CORP 29.60 91.95 99.63 -2.12 14.39 24.58 17.84 SPB-T SUPERIOR PLUS CORP 29.75 9.56 10.36 -6.82 -10.30 108.04 14.82 BMO-T BANK OF MONTREAL 29.79 106.27 120.79 -3.40 -10.34 10.34 8.49 RY-T ROYAL BANK OF CANADA 29.84818 111.01 127.9318 -3.081893 -10.13978 10.7200897 9.833466206 OTEX-T OPEN TEXT CORP 29.97002 45.55 50.8874 -3.270333 15.72406 26.72640454 7.008411307 MFI-T MAPLE LEAF FOODS INC 29.99 24.22 26.64 -4.27 1.47 #N/A N/A 17.94 OVERBOUGHT STOCKS RSI 14D PX LAST MOV_AVG_200D LAST_CLOSE_TRR_1WK LAST_CLOSE_TRR_YTD PE_RATIO BEST_PE_RATIO ABX-T BARRICK GOLD CORP 73.76 23.17 23.39 7.77 1.67 24.42 16.96 PKI-T PARKLAND CORP 69.77 41.27 33.86