The S&P/TSX Composite jumped 1.6 per cent for the trading week ending with Thursday’s close and sits right at the precipice of overbought, technically vulnerable territory.
The benchmark’s Relative Strength Index (RSI) reading of 69 is a smidge under the sell signal of 70 .
There are four oversold, technically attractive index member stocks trading below the RSI buy signal of 30.
Chemtrade Logistics Index Fund is the most oversold company in the index with Spin Master Corp., Superior Plus Corp. and Inter Pipeline Ltd. lining up behind.
The list of frothy benchmark stocks trading above the RSI sell signal of 70 is huge at 42 members.
The five most extended companies are Innergex Renewable Energy, ECN Capital Corp., Boralex Inc., Intact Financial Corp. and Northland Power Inc. Other prominent overbought names include Hydro One Ltd., Telus Corp., CI Financial Corp and Canadian Pacific Railways Ltd.
The list of index members showing strong price momentum by hitting new 52-week highs is also sizeable at 45 stocks.
The 25 largest companies making new highs are listed in the table below, beginning with Enbridge Inc., Canadian National Railway Co., Brookfield Asset Management Inc., TC Energy Corp., Thomson Reuters Corp. and Alimentation Couche-Tard Inc..
There are no S&P/TSX Composite stocks hitting new 52-week lows this week.
Stocks hitting 52-week highs
Return 1W % Return YTD % ENB-T ENBRIDGE INC 2.96 8.43 CNR-T CANADIAN NATL RAILWAY CO 1.71 8.63 BAM-A-T BROOKFIELD ASSET MANAGE-CL A 4.15 13.83 TRP-T TC ENERGY CORP 0.49 5.78 TRI-T THOMSON REUTERS CORP 1.87 17.16 ATD-B-T ALIMENTATION COUCHE-TARD -B 3.79 11.53 WCN-T WASTE CONNECTIONS INC 3.11 12.95 T-T TELUS CORP 1.64 7.50 GWO-T GREAT-WEST LIFECO INC 1.62 5.35 CSU-T CONSTELLATION SOFTWARE INC 6.39 16.69 BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 0.82 12.32 FNV-T FRANCO-NEVADA CORP 1.72 13.17 PPL-T PEMBINA PIPELINE CORP 2.38 8.65 IFC-T INTACT FINANCIAL CORP 7.39 9.27 BEP-UN-T BROOKFIELD RENEWABLE PARTNER 9.31 14.73 OTEX-T OPEN TEXT CORP 2.65 9.73 H-T HYDRO ONE LTD 3.21 10.41 CAR-UN-T CAN APARTMENT PROP REAL ESTA 1.37 8.94 BBU-UN-T BROOKFIELD BUSINESS PT-UNNIT 6.34 10.46 IAG-T IA FINANCIAL CORP INC 3.49 6.53 AP-UN-T ALLIED PROPERTIES REAL ESTAT 1.46 8.08 FSV-T FIRSTSERVICE CORP 12.25 22.64 NPI-T NORTHLAND POWER INC 2.15 12.29 EFN-T ELEMENT FLEET MANAGEMENT COR 3.44 19.21 CIX-T CI FINANCIAL CORP 3.96 12.34
Overbought and oversold stocks on the TSX
Oversold RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd CHE-UN-T CHEMTRADE LOGISTICS INCOM FD 16.80 8.88 10.23 -7.50 -18.65 #N/A N/A #N/A N/A TOY-T SPIN MASTER CORP-SUB VTG SHR 22.98 31.98 39.74 0.16 -19.12 25.06 26.21 SPB-T SUPERIOR PLUS CORP 25.12 11.55 12.42 -1.62 -7.57 28.47 13.92 IPL-T INTER PIPELINE LTD 28.42 21.56 22.28 -2.36 -3.74 15.30 23.74 Overbought RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd INE-T INNERGEX RENEWABLE ENERGY 93.03 21.09 15.68 12.30 25.09 135.28 102.88 ECN-T ECN CAPITAL CORP 88.93 6.13 4.57 12.27 27.97 200.62 13.45 BLX-T BORALEX INC -A 88.72 29.28 21.88 6.16 19.71 #N/A N/A 112.18 IFC-T INTACT FINANCIAL CORP 85.77 153.44 129.52 7.39 9.27 34.07 19.35 NPI-T NORTHLAND POWER INC 84.93 30.44 26.09 2.15 12.29 22.53 22.89 CJT-T CARGOJET INC 84.67 121.48 94.94 4.10 17.57 76.57 89.79 BEP-UN-T BROOKFIELD RENEWABLE PARTNER 83.64 69.18 52.27 9.31 14.73 #N/A N/A #N/A N/A RNW-T TRANSALTA RENEWABLES INC 82.96 17.23 14.24 3.61 11.57 25.57 21.32 H-T HYDRO ONE LTD 82.87 27.69 24.12 3.21 10.41 #N/A N/A 19.91 FSV-T FIRSTSERVICE CORP 82.07 148.26 127.69 12.25 22.64 #N/A N/A 33.48 CPX-T CAPITAL POWER CORP 82.04 36.86 31.71 1.57 7.18 17.71 13.67 ENB-T ENBRIDGE INC 81.69 55.98 48.51 2.96 8.43 20.38 21.39 PBH-T PREMIUM BRANDS HOLDINGS CORP 81.37 98.49 90.26 2.74 8.28 36.25 24.88 T-T TELUS CORP 81.25 54.05 49.14 1.64 7.50 18.97 18.07 ATZ-T ARITZIA INC-SUBORDINATE VOTI 81.13 26.09 18.74 4.32 36.96 34.08 25.35 PPL-T PEMBINA PIPELINE CORP 79.27 52.08 48.41 2.38 8.65 16.90 21.58 EFN-T ELEMENT FLEET MANAGEMENT COR 79.24 13.22 10.65 3.44 19.21 18.67 13.42 BAM-A-T BROOKFIELD ASSET MANAGE-CL A 78.86 85.41 70.02 4.15 13.83 12.92 #N/A N/A FNV-T FRANCO-NEVADA CORP 78.85 151.75 121.07 1.72 13.17 75.22 53.73 TRI-T THOMSON REUTERS CORP 77.70 108.83 90.63 1.87 17.16 182.14 49.09 NFI-T NFI GROUP INC 77.34 32.98 30.35 8.49 23.75 18.98 11.29 BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 76.32 72.85 62.42 0.82 12.32 #N/A N/A 61.45 BCB-T COTT CORPORATION 76.31 20.81 17.64 7.32 17.31 112.17 41.75 CIX-T CI FINANCIAL CORP 76.13 24.39 20.59 3.96 12.34 10.99 9.63 IAG-T IA FINANCIAL CORP INC 75.47 75.99 60.22 3.49 6.53 12.84 11.39 STN-T STANTEC INC 75.10 41.36 32.56 3.66 12.70 26.63 17.66 BBU-UN-T BROOKFIELD BUSINESS PT-UNNIT 74.87 59.35 51.79 6.34 10.46 #N/A N/A #N/A N/A CAE-T CAE INC 74.40 40.13 34.65 1.39 16.72 31.81 25.72 GRT-UN-T GRANITE REAL ESTATE INVESTME 74.21 72.97 64.45 1.53 10.97 26.63 #N/A N/A WCN-T WASTE CONNECTIONS INC 74.08 133.23 122.70 3.11 12.95 43.51 35.37 HBC-T HUDSON'S BAY CO 73.95 10.96 9.38 0.18 10.93 #N/A N/A #N/A N/A CIGI-T COLLIERS INTERNATIONAL GROUP 73.88 112.50 94.28 3.95 11.28 25.31 17.46 SMU-UN-T SUMMIT INDUSTRIAL INCOME REI 73.32 13.32 12.66 3.58 10.83 #N/A N/A #N/A N/A TA-T TRANSALTA CORP 72.76 10.13 8.66 2.12 9.16 #N/A N/A #N/A N/A X-T TMX GROUP LTD 72.19 124.60 105.91 1.71 10.80 26.25 24.97 JWEL-T JAMIESON WELLNESS INC 72.14 28.41 22.91 7.41 10.33 37.05 27.94 TRP-T TC ENERGY CORP 71.87 73.16 66.89 0.49 5.78 17.70 17.97 CSU-T CONSTELLATION SOFTWARE INC 71.87 1471.70 1279.56 6.39 16.69 61.80 31.85 TCN-T TRICON CAPITAL GROUP INC 71.71 11.60 10.50 6.03 9.13 13.55 10.83 CP-T CANADIAN PACIFIC RAILWAY LTD 71.58 360.76 313.01 1.52 8.98 21.90 19.57 AP-UN-T ALLIED PROPERTIES REAL ESTAT 71.08 56.14 51.39 1.46 8.08 35.63 #N/A N/A BCE-T BCE INC 71.07 64.20 61.94 2.20 6.72 18.24 17.82
Source: Bloomberg/Scott Barlow
Scott Barlow