The S&P/TSX Composite fell 0.5 per cent for the trading week ending with Thursday’s close.
In terms of Relative Strength index (RSI), the benchmark remains in the neutral range with a reading of 43 that is slightly closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.
There are 21 oversold, technically attractive index members by RSI this week, led by SNC Lavalin Group Inc.. Toromont Industries Ltd. follows, and then we have Great Canadian Gaming Corp., AG Growth International Inc., and Inter Pipeline Ltd.
The list of overbought, technically vulnerable benchmark constituents begins with Element Fleet management Corp., followed by Thomson Reuters Corp., Shopify Inc., Morneau Shepell Inc., and Descartes Systems Group Inc..
Last week, we began posting two new tables of stocks to provide more candidates for further research. The index members hitting 52-week highs highlight stocks with the strongest positive price momentum, and the “stay away for now” list of companies hitting 52-week lows.
S&P/TSX Composite constituents hitting new highs includes Element Fleet Management, Loblaw Co., ECN Capital Corp, Boyd Group Income Fund and Summit Industrial Income REIT.
Pan American Silver Corp., Nexgen Energy Ltd., and Transcontinental Inc. are among stocks hitting new 52-week lows.