The S&P/TSX Composite Index dropped a marginal 0.2 per cent for the trading week ending with Thursday’s close and sits 17.0 per cent higher year to date. The benchmark’s Relative Strength Index (RSI) level of 53 puts it in the technical neutral range close to the midway point between the oversold buy signal of 30 and the overbought RSI sell signal of 70.
There are nine index member stocks trading with RSIs below 30, indicating a higher probability of bounce in price from oversold conditions. Turquoise Hill Resources Ltd. is the most oversold companies in the benchmark followed by NFI Group Inc., Stella-Jones Inc. and Canntrust Holdings Inc.
Most oversold stocks
Ticker Company RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd TRQ-T TURQUOISE HILL RESOURCES LTD 19.61 0.82 2.10 -39.01 -61.78 2.65 11.62 NFI-T NFI GROUP INC 21.43 31.47 35.85 -12.96 -6.17 10.14 9.72 SJ-T STELLA-JONES INC 23.98 42.66 42.95 -10.67 7.18 20.51 16.91 TRST-T CANNTRUST HOLDINGS INC 26.74 3.66 8.97 -4.95 -41.55 N/A N/A CU-T CANADIAN UTILITIES LTD-A 27.03 36.08 34.37 -2.02 17.37 14.34 N/A HSE-T HUSKY ENERGY INC 27.60 11.30 15.04 -10.49 -18.02 9.37 9.96 BCB-T COTT CORPORATION 28.69 16.39 19.24 -4.03 -12.88 74.34 28.70 ECA-T ENCANA CORP 29.04 5.76 9.32 -14.29 -27.20 5.61 5.59 BB-T BLACKBERRY LTD 29.47 9.25 11.33 -1.19 -5.66 N/A 66.15
Source: Scott Barlow; Bloomberg
There are 33 S&P/TSX Composite stocks trading in technically vulnerable territory with RSI levels above the sell signal of 70. Eldorado Gold Corp. and Detour Gold Corp. are the two most extended index constituents followed by First Majestic Silver Corp. and Novagold Resources Inc.
Other prominent names on the overbought list include Westjet Airlines Ltd. and Home Capital Group Inc.
Most overbought stocks
Ticker Company RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd ELD-T ELDORADO GOLD CORP 89.63 10.15 5.38 15.29 154.50 N/A 22.98 DGC-T DETOUR GOLD CORP 84.82 19.34 12.39 9.61 65.13 1426.76 37.94 FR-T FIRST MAJESTIC SILVER CORP 83.65 13.06 8.19 24.95 61.10 N/A N/A NG-T NOVAGOLD RESOURCES INC 81.08 8.49 5.54 10.97 56.83 N/A N/A PVG-T PRETIUM RESOURCES INC 80.57 14.96 10.94 8.73 29.21 31.66 15.90 FVI-T FORTUNA SILVER MINES INC 80.48 4.86 4.49 35.36 -2.00 26.67 15.96 CG-T CENTERRA GOLD INC 80.29 10.76 6.79 8.13 81.57 19.59 13.45 SSRM-T SSR MINING INC 80.07 20.76 16.01 15.45 24.06 126.85 29.53 WJA-T WESTJET AIRLINES LTD 79.51 30.71 21.88 -0.10 72.55 40.06 20.39 PAAS-T PAN AMERICAN SILVER CORP 78.22 20.28 17.82 19.63 1.51 256.38 43.22 IMG-T IAMGOLD CORP 77.94 5.06 4.39 9.80 0.60 N/A 49.01 AGI-T ALAMOS GOLD INC-CLASS A 77.93 8.72 6.08 6.77 77.26 N/A 38.35 IPL-T INTER PIPELINE LTD 77.36 22.35 21.35 1.17 20.93 16.02 18.13 AEM-T AGNICO EAGLE MINES LTD 77.15 70.34 55.33 3.88 28.60 266.71 68.74 CJT-T CARGOJET INC 77.05 93.09 79.93 1.86 31.48 91.73 145.91 HCG-T HOME CAPITAL GROUP INC 77.05 21.99 16.97 4.70 53.13 13.01 9.60 NGD-T NEW GOLD INC 77.05 1.90 1.16 28.67 75.24 8.72 N/A KL-T KIRKLAND LAKE GOLD LTD 76.21 60.89 40.00 9.47 70.72 30.12 20.35 EDV-T ENDEAVOUR MINING CORP 76.09 24.90 20.25 9.79 10.92 N/A 15.60 YRI-T YAMANA GOLD INC 75.80 3.75 3.16 13.21 17.91 106.70 54.14 CIGI-T COLLIERS INTERNATIONAL GROUP 75.51 98.51 86.29 4.38 30.27 25.72 15.92 SSL-T SANDSTORM GOLD LTD 75.34 8.66 6.58 14.54 32.12 258.26 92.03 WPM-T WHEATON PRECIOUS METALS CORP 75.17 35.12 27.14 12.80 33.06 59.46 49.31 AIF-T ALTUS GROUP LTD 74.72 33.63 27.20 2.76 43.01 376.11 25.85 K-T KINROSS GOLD CORP 74.08 5.70 4.28 7.05 27.73 217.30 23.58 CCA-T COGECO COMMUNICATIONS INC 74.03 103.99 79.39 5.75 61.22 15.71 13.72 BTO-T B2GOLD CORP 73.78 4.41 3.71 7.69 8.77 165.33 18.75 RCH-T RICHELIEU HARDWARE LTD 72.99 25.26 23.48 2.97 12.42 21.79 N/A ABX-T BARRICK GOLD CORP 72.91 22.71 17.61 4.90 22.28 2066.72 35.76 AC-T AIR CANADA 72.28 44.43 31.79 5.83 70.72 20.13 11.22 ERO-T ERO COPPER CORP 72.09 25.04 14.60 2.82 148.73 87.23 22.76 SMF-T SEMAFO INC 71.55 5.51 3.52 6.65 84.75 105.58 12.40 FNV-T FRANCO-NEVADA CORP 71.36 117.37 97.09 4.76 22.74 73.03 62.98
Source: Scott Barlow; Bloomberg
There are 26 index stocks hitting new 52-week highs this week, indicating strong price momentum. They are ranked by market capitalization in the table below which is topped by Thomson Reuters Corp., Restaurant Brands International, Barrick Gold Corp. and CGI Inc.
Stocks hitting 52-week highs
Ticker Company Return 1W % Return YTD % Market Cap TRI-T THOMSON REUTERS CORP 2.04 36.71 44,891,584,223 QSR-T RESTAURANT BRANDS INTERN 2.23 35.71 44,248,570,787 ABX-T BARRICK GOLD CORP 4.90 22.28 39,927,665,199 GIB-A-T CGI INC 0.65 24.08 28,598,116,314 FNV-T FRANCO-NEVADA CORP 4.76 22.74 22,043,503,717 AEM-T AGNICO EAGLE MINES LTD 3.88 28.60 16,611,055,330 WPM-T WHEATON PRECIOUS METALS CORP 12.80 33.06 15,703,069,032 KL-T KIRKLAND LAKE GOLD LTD 9.47 70.72 12,831,712,976 AC-T AIR CANADA 5.83 70.72 11,912,769,180 K-T KINROSS GOLD CORP 7.05 27.73 7,125,549,503 EFN-T ELEMENT FLEET MANAGEMENT COR 4.76 51.28 4,491,966,390 AGI-T ALAMOS GOLD INC-CLASS A 6.77 77.26 3,421,046,985 DGC-T DETOUR GOLD CORP 9.61 65.13 3,415,393,244 CG-T CENTERRA GOLD INC 8.13 81.57 3,165,174,319 NG-T NOVAGOLD RESOURCES INC 10.97 56.83 2,774,547,027 PVG-T PRETIUM RESOURCES INC 8.73 29.21 2,761,724,223 EDV-T ENDEAVOUR MINING CORP 9.79 10.92 2,746,852,469 FR-T FIRST MAJESTIC SILVER CORP 24.95 61.10 2,671,070,687 SSRM-T SSR MINING INC 15.45 24.06 2,545,030,405 SMF-T SEMAFO INC 6.65 84.75 1,846,909,361 ELD-T ELDORADO GOLD CORP 15.29 154.50 1,618,189,547 SSL-T SANDSTORM GOLD LTD 14.54 32.12 1,557,328,220 ASR-T ALACER GOLD CORP 16.02 101.19 1,482,423,244 AIF-T ALTUS GROUP LTD 2.76 43.01 1,336,324,679 ECN-T ECN CAPITAL CORP 3.16 33.71 1,105,369,513 EXE-T EXTENDICARE INC 2.61 40.33 766,457,122
Source: Scott Barlow; Bloomberg
Companies with the weakest price momentum, those hitting 52-week lows, include Husky Energy Inc., Encana Corp., Stars Group Inc. and Mullen Group Ltd.
Stocks hitting 52-week lows
Ticker Company Return 1W % Return YTD % Market Cap HSE-T HUSKY ENERGY INC -10.49 -18.02 11,377,978,074 ECA-T ENCANA CORP -14.29 -27.20 8,296,949,182 TSGI-T STARS GROUP INC/THE -0.43 -7.72 6,042,019,935 VET-T VERMILION ENERGY INC -7.30 -4.56 4,024,201,068 BCB-T COTT CORPORATION -4.03 -12.88 2,220,834,178 ERF-T ENERPLUS CORP -13.41 -19.34 1,990,273,275 BTE-T BAYTEX ENERGY CORP -5.82 -26.14 1,001,777,072 MTL-T MULLEN GROUP LTD -1.49 -22.06 968,582,751
Source: Scott Barlow; Bloomberg
Scott Barlow