The S&P/TSX Composite fell 0.9 per cent for the trading week ending with Friday’s close and is 4.3 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 56 leaves it in the neutral technical range between the oversold buy signal of 30 and the overbought RSI sell signal of 70.
There are five technically attractive index stocks with RSIs below 30. These are Altus Group Ltd. (AIF-T), Whitecap Resources Inc (WCP-T), First Quantum Minerals Ltd. (FM-T), Canada Goose Holdings Inc. (GOOS-T) and Oceanagold Corp. (OGC-T).
There are 15 technically vulnerable benchmark constituents with RSIs above the 70 sell signal. The five most overbought companies are Stella-Jones Inc. (SJ-T), George Weston Ltd. (WN-T), Gildan Activewear Inc. (GIL-T), Descartes Systems Group (DSG-T) and Empire Co. Ltd. (EMP.A-T).
There are nine stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. Alimentation Couche-Tard, Constellation Software, Intact Financial, Dollarama Inc. and Stantec Inc. are the biggest companies making new highs.
The six companies hitting new 52-week lows are Franco-Nevada Corp., Linamar Corp., Orla Mining Ltd., Pan American Silver Corp., Altus Group Ltd. and K92 Mining.