The S&P/TSX Composite rose 1.2 per cent for the shortened trading week ending with Friday’s close and is 1.4 per cent higher for 2025 so far. The benchmark’s Relative Strength Index (RSI) of 52 leaves in the in the technically neutral range, close to the midpoint between oversold buy signal of 30 and the overbought RSI sell signal of 70.
There are no oversold, technically attractive index stocks by RSI this week. Power Corp of Canada is closest with a reading of 30.1.
There are seven index constituents with RSIs above 70, suggesting short term vulnerability to a pullback. Aritzia Inc. is the most overbought company in the index, followed by ECN Capital Corp., CI Financial Corp., TransAlta Corp., Ballard Power Systems Inc., Methanex Corp. and Enbridge Inc.
There are five stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. Enbridge Inc. is the biggest company making new highs followed by Aritizia, Orla Mining Ltd., Enerflex Ltd and Transcontinental Inc.
-
-