The S&P/TSX Composite index was higher by another 1.1 per cent for the trading week ending with Thursday’s close and stands 21.6 per cent higher for 2019.
The big news this week is that the benchmark itself is overbought, according to Relative Strength Index (RSI), indicating a higher likelihood of a temporary market correction in the days ahead. The index’s RSI of 77 is well above the overbought signal of 70.
There are six oversold, technically attractive benchmark constituents trading with RSIs below the oversold buy signal of 30.
Shawcor Ltd. is the most oversold stock in the index with Semafo Inc., Pason Systems Inc., Hexo Corp., Canopy Growth Corp. and Maple Leaf Foods Inc. lining up behind.
There are a large number of TSX stocks – 42 – trading at overbought levels with RSI readings above 70.
Alaris Royalty Corp. is the most overbought company in the index, followed by National Bank of Canada, Power Financial Corp., Home Capital Group Inc., Bausch Health Co.s Inc., and Gibson Energy Inc.
Widely-held names in the rest of the list include SNC-Lavalin Group Inc., Manulife Financial Corp and Canadian Pacific Railway Inc.
There are 26 stocks showing strong price momentum by hitting new 52-week highs this week and they are ranked by market capitalization in the accompanying table. The largest company making new highs is Brookfield Asset Management Inc.. CGI Inc., Air Canada and Cominar REIT are also on the list.
Canopy Growth Corp is the biggest company making new 52-week lows with competitor Aurora Cannabis Inc. right behind. Cronos Group Inc., Pason Systems Inc., Fronterra Energy Corp. Hexo Corp. and Gran Tierra Energy Inc. make up the remainder of the list.
Stocks jumping to 52-week highs
Return 1W % Return YTD % Market Cap
BAM-A-T BROOKFIELD ASSET MANAGE-CL A 2.778523 47.83598 80,242,000,414.68
GIB-A-T CGI INC 2.135164 28.32335 28,797,424,950.35
BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 2.950522 49.46132 26,870,167,759.31
NA-T NATIONAL BANK OF CANADA 0.9421656 28.25331 23,313,422,007.32
BEP-UN-T BROOKFIELD RENEWABLE PARTNER 3.952011 74.64888 18,182,952,356.54
AC-T AIR CANADA 4.162265 89.90755 13,118,557,745.80
BHC-T BAUSCH HEALTH COS INC 7.355516 45.66337 12,962,420,161.26
CTC-A-T CANADIAN TIRE CORP-CLASS A 2.892973 11.7502 9,732,484,268.82
WSP-T WSP GLOBAL INC 0.02320724 49.17656 9,107,002,933.20
IAG-T IA FINANCIAL CORP INC 0.443459 59.91676 7,249,174,334.55
PKI-T PARKLAND FUEL CORP 4.987915 38.47334 7,061,837,940.08
RBA-T RITCHIE BROS AUCTIONEERS 2.461707 27.77467 6,082,016,781.81
CCA-T COGECO COMMUNICATIONS INC 6.160441 80.5002 5,741,612,842.60
NPI-T NORTHLAND POWER INC 1.524164 31.02036 5,290,732,050.43
GEI-T GIBSON ENERGY INC 6.134969 44.99694 3,775,392,346.95
GRT-UN-T GRANITE REAL ESTATE INVESTME 2.103511 31.64726 3,646,288,159.41
CPX-T CAPITAL POWER CORP 2.598226 27.32056 3,622,206,347.10
KXS-T KINAXIS INC 4.742395 55.17451 2,681,946,943.70
CUF-UN-T COMINAR REAL ESTATE INV-TR U 5.983545 32.82603 2,579,601,554.79
INE-T INNERGEX RENEWABLE ENERGY 2.966102 40.65313 2,371,293,202.32
BLX-T BORALEX INC -A 7.441016 44.29224 2,121,136,142.08
BLDP-T BALLARD POWER SYSTEMS INC 14.60526 165.5488 2,033,876,690.17
HCG-T HOME CAPITAL GROUP INC 26.44928 142.3611 2,000,852,388.60
DIR-UN-T DREAM INDUSTRIAL REAL ESTATE 2.535421 51.65931 1,871,088,381.25
CHR-T CHORUS AVIATION INC 1.234568 53.2893 1,371,034,981.60
SVM-T SILVERCORP METALS INC 17.15328 126.4893 1,106,804,520.36
Stocks falling to 52-week lows
Return 1W % Return YTD % Market Cap
WEED-T CANOPY GROWTH CORP -16.59371 -42.74788 7,265,970,816.48
ACB-T AURORA CANNABIS INC -7.00637 -35.39823 4,469,256,914.58
CRON-T CRONOS GROUP INC -13.67113 -37.20445 3,104,190,789.21
PSI-T PASON SYSTEMS INC -4.829545 -24.5232 1,143,004,884.80
FEC-T FRONTERA ENERGY CORP -9.725906 -14.70544 1,000,121,632.26
HEXO-T HEXO CORP -15.01707 -47.13376 639,886,434.96
GTE-T GRAN TIERRA ENERGY INC -6.382979 -55.7047 493,228,614.01
Oversold RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd
SCL-T SHAWCOR LTD 23.60 12.05 17.81 -13.68 -25.53 40.17 59.65
SMF-T SEMAFO INC 24.15 2.75 4.22 -17.17 -6.78 13.86 6.06
PSI-T PASON SYSTEMS INC 26.09 13.40 18.13 -4.83 -24.52 17.87 21.54
HEXO-T HEXO CORP 28.56 2.49 6.83 -15.02 -47.13 #N/A N/A #N/A N/A
WEED-T CANOPY GROWTH CORP 29.01 20.96 48.42 -16.59 -42.75 #N/A N/A #N/A N/A
MFI-T MAPLE LEAF FOODS INC 29.86 23.14 30.03 0.09 -14.06 20.76 25.80
Overbought RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd
AD-T ALARIS ROYALTY CORP 84.62 22.02 19.63 2.80 39.10 13.95 12.07
NA-T NATIONAL BANK OF CANADA 84.39 69.64 63.42 0.94 28.25 11.25 10.72
PWF-T POWER FINANCIAL CORP 82.51 33.18 30.10 3.27 34.30 11.21 9.39
HCG-T HOME CAPITAL GROUP INC 81.30 34.90 20.96 26.45 142.36 16.54 11.69
BHC-T BAUSCH HEALTH COS INC 80.96 36.78 31.22 7.36 45.66 #N/A N/A 6.17
GEI-T GIBSON ENERGY INC 80.79 25.95 22.80 6.13 45.00 22.40 23.70
GWO-T GREAT-WEST LIFECO INC 80.23 33.16 30.75 1.19 22.63 #N/A N/A 10.39
BAM-A-T BROOKFIELD ASSET MANAGE-CL A 80.06 76.57 65.09 2.78 47.84 11.62 #N/A N/A
KXS-T KINAXIS INC 80.02 102.26 80.56 4.74 55.17 111.99 60.52
CTC-A-T CANADIAN TIRE CORP-CLASS A 78.59 155.07 143.56 2.89 11.75 14.40 11.33
IAG-T IA FINANCIAL CORP INC 78.35 67.95 54.46 0.44 59.92 11.48 10.33
POW-T POWER CORP OF CANADA 78.34 32.35 29.16 1.83 37.49 11.01 9.51
INE-T INNERGEX RENEWABLE ENERGY 77.20266 17.01 14.7795 2.966102 40.65313 109.1112038 123.2608696
CHR-T CHORUS AVIATION INC 77.08331 8.2 7.5575 1.234568 53.2893 12.43822572 10.31446541
TSX-I S&P/TSX COMPOSITE INDEX 76.80589 16972.18 16341.58 1.062285 21.64079 17.28798489 15.69599958
DOO-T BRP INC/CA- SUB VOTING 76.76509 61.65 44.7044 1.985112 75.62205 20.17443326 15.18847007
STN-T STANTEC INC 76.71 34.51 31.04 4.80 17.03 22.22 15.06
SNC-T SNC-LAVALIN GROUP INC 76.60 27.28 26.21 -0.51 -40.08 #N/A N/A 14.89
CAE-T CAE INC 76.51 36.00 32.50 7.11 44.89 28.53 24.16
WSP-T WSP GLOBAL INC 76.27 86.20 73.45 0.02 49.18 27.80 21.09
BLX-T BORALEX INC -A 76.14 23.68 19.98 7.44 44.29 #N/A N/A #N/A N/A
QBR-B-T QUEBECOR INC -CL B 76.10 33.30 31.34 7.77 16.91 16.15 #N/A N/A
KEY-T KEYERA CORP 75.56 33.74 32.12 5.80 37.09 17.14 16.74
RBA-T RITCHIE BROS AUCTIONEERS 75.36 56.19 48.26 2.46 27.77 35.58 28.21
OTEX-T OPEN TEXT CORP 75.01 57.52 52.85 6.07 30.93 35.12 15.05
MFC-T MANULIFE FINANCIAL CORP 74.99 26.26 23.42 1.86 40.12 10.67 8.43
RUS-T RUSSEL METALS INC 74.43 22.98 22.09 2.64 13.48 11.10 11.56
TIH-T TOROMONT INDUSTRIES LTD 74.07 70.12 64.55 -0.64 30.89 23.33 18.22
CIX-T CI FINANCIAL CORP 73.96 20.97 19.54 3.05 24.76 9.45 8.36
EIF-T EXCHANGE INCOME CORP 73.91 43.79 36.47 9.31 63.13 19.51 13.46
BEP-UN-T BROOKFIELD RENEWABLE PARTNER 73.81 58.92 46.27 3.95 74.65 218.69 70.34
PKI-T PARKLAND FUEL CORP 73.17 47.78 41.68 4.99 38.47 18.57 32.75
BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 72.96 68.04 58.30 2.95 49.46 #N/A N/A 55.59
CPX-T CAPITAL POWER CORP 72.91811 32.38 30.5991 2.598226 27.32056 15.56040328 7.934329821
SLF-T SUN LIFE FINANCIAL INC 72.42681 61.04 54.20555 0.09839292 38.83084 14.79858408 11.4952919
CP-T CANADIAN PACIFIC RAILWAY LTD 72.27735 316.67 296.174 1.513063 31.75917 19.47142247 17.79844874
DRG-UN-T DREAM GLOBAL REAL ESTATE INV 72.2663 16.74 14.4683 0.239521 46.22989 22.36744851 16.25242718
RNW-T TRANSALTA RENEWABLES INC 72.08082 14.63 13.4765 3.434107 50.5594 21.71502718 #N/A N/A
TSGI-T STARS GROUP INC/THE 71.99746 28.99 22.99015 0.3114187 28.61579 46.80998247 11.81078635
SVM-T SILVERCORP METALS INC 71.87997 6.42 4.02445 17.15328 126.4893 22.74723556 20.04755198
BLDP-T BALLARD POWER SYSTEMS INC 71.59373 8.71 5.50875 14.60526 165.5488 #N/A N/A #N/A N/A
T-T TELUS CORP 71.26445 50.3 48.35415 2.13198 15.02703 17.65460476 16.63910023
Source: Bloomberg