The S&P/TSX Composite climbed another 0.4 per cent for the week ending with Thursday’s close and sits 12 per cent lower for 2020.
In terms of technical analysis, the benchmark’s Relative Strength Index (RSI) reading of 57 is still in the neutral range but closer to the overbought RSI sell signal of 70 than the oversold buy signal of 30.
For the third week in a row there are no technically attractive oversold stocks, according to RSI.
Fairfax Financial Holdings Ltd. and Gildan Activewear Inc are closest to the RSI buy signal with readings of 36 and 37 respectively.
There are 14 index stocks trading at technically vulnerable levels above the overbought RSI sell signal of 70.
Kinaxis inc. is the most overbought company in the benchmark, followed in order by Wheaton Precious Metals Corp., Agnico Eagle Mines Ltd., Enghouse Systems Ltd., Shopify Inc. and Yamana Gold Inc.
There are 12 S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization below. Wheaton Precious Metals Corp is the largest company making new highs followed by Agnico Eagle Mines Ltd., B2Gold Corp., and TMX Group Ltd.
Fairfax Financial Holdings Ltd is the only index member making new 52-week lows this week.
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