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Conditions are getting frothy in the Canadian equity market.

The S&P/TSX Composite was up 1.5 per cent for the trading week ending with Thursday’s close. The benchmark’s Relative Strength Index (RSI) reading of 79 is well above the 70 sell signal, indicating overbought markets vulnerable to a correction in the short term.

There are only two technically attractive index members trading at oversold levels below the RSI buy signal of 30. Bombardier Inc. is the most oversold company after getting walloped by 35 per cent this week. Cogeco Communications Inc is the other oversold stock after dropping 8.4 per cent.

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The list of overbought, technically vulnerable benchmark companies is long at 42 members. Ballard Power Systems Inc. is the most overbought TSX stock, followed closely by ONEX Corp., Genworth MI Canada Inc., Aritzia Inc. and Element Fleet Management Corp. Other prominent overbought names include Shopify Inc., Brookfield Asset Management Inc. and Bank of Montreal.

The list of S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs is unsurprisingly big this week at 34 members.

They are ranked by market capitalization below. The largest company making new highs is Enbridge Inc., followed by Brookfield Asset Management Inc., Shopify Inc., Thomson Reuters Corp., Sun Life Financial Inc., CGI Inc. and Franco-Nevada Inc.

Stocks with downward price momentum – those hitting 52-week lows – are Bombardier Inc. and Shawcor Ltd.

Stocks hitting 52-week highs

Return 1W %Return YTD %
ENB-TENBRIDGE INC1.3049322.246756
BAM-A-TBROOKFIELD ASSET MANAGE-CL A5.7146617.250433
SHOP-TSHOPIFY INC - CLASS A4.7598713.94538
TRI-TTHOMSON REUTERS CORP4.12224610.3994
SLF-TSUN LIFE FINANCIAL INC0.36624216.451613
GIB-A-TCGI INC0.15081623.883317
FNV-TFRANCO-NEVADA CORP4.2675982.401372
OTEX-TOPEN TEXT CORP1.5305276.658511
AQN-TALGONQUIN POWER & UTILITIES2.1983913.756124
ONEX-TONEX CORPORATION2.7357738.437064
TIH-TTOROMONT INDUSTRIES LTD0.63264451.402465
BTO-TB2GOLD CORP7.4446682.495202
NPI-TNORTHLAND POWER INC4.8943274.007353
EFN-TELEMENT FLEET MANAGEMENT COR9.37223711.54193
MIC-TGENWORTH MI CANADA INC3.9807836.652587
DSG-TDESCARTES SYSTEMS GRP/THE0.016666678.126126
CIGI-TCOLLIERS INTERNATIONAL GROUP4.2386796.785361
BYD-TBOYD GROUP SERVICES INC3.9044018.688119
RNW-TTRANSALTA RENEWABLES INC3.1601582.827812
CPX-TCAPITAL POWER CORP2.3323612.064554
GRT-UN-TGRANITE REAL ESTATE INVESTME5.247245.486511
CRT-UN-TCT REAL ESTATE INVESTMENT TR2.3914410.8054523
TFII-TTFI INTERNATIONAL INC2.9067154.340873
BLDP-TBALLARD POWER SYSTEMS INC28.4567455.17241
ENGH-TENGHOUSE SYSTEMS LTD0.49951978.572021
ATZ-TARITZIA INC-SUBORDINATE VOTI0.916284927.1916
INE-TINNERGEX RENEWABLE ENERGY6.4973426.939502
CRR-UN-TCROMBIE REAL ESTATE INVESTME3.0398992.070263
MEG-TMEG ENERGY CORP2.3195887.44249
NVU-UN-TNORTHVIEW APARTMENT REAL EST4.2703434.622132
D-UN-TDREAM OFFICE REAL ESTATE INV2.8007643.758432
CJT-TCARGOJET INC7.3603349.542243
CHR-TCHORUS AVIATION INC2.3399012.719407
JWEL-TJAMIESON WELLNESS INC1.0610083.572815

Stocks falling to 52-week lows

Return 1W %Return YTD %
BBD-B-TBOMBARDIER INC-B-34.75936-36.78756
SCL-TSHAWCOR LTD-2.579035-6.544294

OversoldRSIPrice200DMAReturn 1W %Retrun YTD %PE Ratio TTMPE Ratio Fwd
BBD-B-TBOMBARDIER INC-B14.341.222.02-34.76-36.79#N/A N/A#N/A N/A
CCA-TCOGECO COMMUNICATIONS INC19.95102.82103.22-8.39-8.9114.1913.36
OverboughtRSIPrice200DMAReturn 1W %Retrun YTD %PE Ratio TTMPE Ratio Fwd
BLDP-TBALLARD POWER SYSTEMS INC86.8514.646.6028.4655.17#N/A N/A#N/A N/A
ONEX-TONEX CORPORATION84.6788.9879.372.748.443.48#N/A N/A
MIC-TGENWORTH MI CANADA INC83.9060.9746.273.986.6511.9111.68
ATZ-TARITZIA INC-SUBORDINATE VOTI80.9624.4918.230.9227.1931.9923.80
EFN-TELEMENT FLEET MANAGEMENT COR80.9612.4510.309.3711.5417.5912.67
TRI-TTHOMSON REUTERS CORP80.57102.5288.654.1210.40174.6647.19
CHP-UN-TCHOICE PROPERTIES REIT80.4714.7713.874.995.97#N/A N/A#N/A N/A
WSP-TWSP GLOBAL INC79.652994.1777.343251.8869975.95466330.3712759323.10920245
CGX-TCINEPLEX INC79.5458133.9525.28860.088521690.206794739.28011612#N/A N/A
WCN-TWASTE CONNECTIONS INC79.45226127.31121.80013.9660528.01186942.3248701334.30797294
CAE-TCAE INC79.340438.9933.97842.77851312.9726630.9034863926.22057835
SHOP-TSHOPIFY INC - CLASS A79.14592.00423.154.7613.95#N/A N/A612.70
TSX-TS&P/TSX COMPOSITE INDEX78.9917514.5816578.701.472.5917.8315.42
STN-TSTANTEC INC78.1338.6332.022.225.2024.8716.49
BAM-A-TBROOKFIELD ASSET MANAGE-CL A77.6480.8468.615.717.2512.45#N/A N/A
MEG-TMEG ENERGY CORP77.487.905.602.327.4427.7742.93
CJT-TCARGOJET INC77.06113.0092.147.369.5471.2384.64
INE-TINNERGEX RENEWABLE ENERGY76.7118.0315.346.506.94115.65143.10
CIGI-TCOLLIERS INTERNATIONAL GROUP75.79108.2992.974.246.7924.8017.11
AIF-TALTUS GROUP LTD74.5942.2534.544.4410.93115.312.73
HBC-THUDSON'S BAY CO73.8810.899.140.2810.32#N/A N/A#N/A N/A
IAG-TIA FINANCIAL CORP INC73.7973.4658.590.002.3412.4111.06
BLX-TBORALEX INC -A73.7126.1921.253.976.95#N/A N/A#N/A N/A
CLS-TCELESTICA INC73.2511.679.636.898.0833.3512.64
FTS-TFORTIS INC72.8155.7552.902.263.2922.0819.74
PBH-TPREMIUM BRANDS HOLDINGS CORP72.7293.8588.842.623.3034.5423.71
SNC-TSNC-LAVALIN GROUP INC72.6331.4224.394.735.01#N/A N/A17.69
BB-TBLACKBERRY LTD72.588.819.332.666.47#N/A N/A48.20
SLF-TSUN LIFE FINANCIAL INC72.4914263.2956.43680.36624216.45161315.3441241411.8454052
CIX-TCI FINANCIAL CORP72.3343523.0620.235150.74333186.12620910.387387159.15442636
D-UN-TDREAM OFFICE REAL ESTATE INV71.8336532.426.9242.8007643.75843231.19578195#N/A N/A
OTEX-TOPEN TEXT CORP71.7976761.1754.50321.5305276.65851137.8528042216.22175754
RNW-TTRANSALTA RENEWABLES INC71.3669115.9114.03953.1601582.82781223.61490611#N/A N/A
ENB-TENBRIDGE INC71.2475252.9148.15011.3049322.24675619.5262332220.28757669
BYD-TBOYD GROUP SERVICES INC71.2389220176.60843.9044018.68811950.1020829939.75424648
CPX-TCAPITAL POWER CORP70.7840835.2731.359952.3323612.06455416.949209788.08203483
IFC-TINTACT FINANCIAL CORP70.78207144.24127.06640.020815992.65631734.3847833318.85243759
SIA-TSIENNA SENIOR LIVING INC70.7058319.0718.96954.6600884.54545593.47031053#N/A N/A
PPL-TPEMBINA PIPELINE CORP70.5981450.2548.33560.099780494.21774316.3016026820.72164948
BMO-TBANK OF MONTREAL70.58589103.5199.4661.8827012.70270311.2107771310.54502852
CNR-TCANADIAN NATL RAILWAY CO70.58116124.85121.17613.666146.15476320.967817820.99024882
BIP-UN-TBROOKFIELD INFRASTRUCTURE PA70.5424769.7761.209657.0626257.277213#N/A N/A49.06789842
MTY-TMTY FOOD GROUP INC70.163358.8559.385154.8576516.19931513.4921111817.54098361

Source: Bloomberg

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