The S&P/TSX Composite Index dropped 0.4 per cent for the trading week ending with Thursday’s close and now stands 13.7 per cent higher for 2019.
The benchmark remains in neutral technical territory by Relative Strength Index (RSI) with a reading of 38 that is nonetheless a lot closer to the oversold RSI buy signal of 30 than the sell signal of 70.
There are 33 oversold technically attractive index members according to RSI this week, led by SNC-Lavalin Group Inc. Forestry companies Norbord Inc. and Canfor Corp. are next on the list. One prominent bank stock, Canadian Imperial Bank of Commerce, is also represented.
There are four overbought, technically vulnerable benchmark stocks this week – takeover target WestJet Airlines Ltd., Morneau Shepell, Badger Daylighting Ltd. and MTY Food Group Inc.
There are only two companies hitting 52-week price highs this week, Northwest Healthcare Properties and Badger Daylighting.
S&P/TSX Composite stocks with the weakest price momentum, those making new 52-week lows, are sorted by market capitalization in the table below. Canadian Tire Corp. is the largest on the list, followed by Methanex Corp., SNC-Lavalin Group Inc., Arc Resources Ltd. and Seven Generations Energy.