The S&P/TSX Composite rose another 0.4 per cent for the trading week ending with Thursday’s close and stands 4.8 per cent higher for 2020.
In terms of technical analysis, the benchmark’s Relative Strength Index (RSI) reading of 68 puts it right below the overbought RSI sell signal of 70 for the second week in a row.
There are three index members trading in the attractive oversold RSI range below the buy signal of 30. Chemtrade Logistics Income Fund is the most oversold company in the benchmark, and it’s joined by Pretium Resources Inc. and Finning International Inc.
There are 49 S&P/TSX composite stocks – more than 20 per cent of the total - trading in overbought territory above the 70 sell signal.
The ten most overbought stocks according to RSI this week are, in order, Boralex Inc., Hydro One Ltd., Northland Power Inc., Capital Power Corp., Brookfield Renewable Partners LP, Innergex Renewable Energy , Premium Brands Holding Corp., Brookfield Asset Management , Allied Properties REIT and NFI Group Inc.
There are 33 benchmark members showing strong price momentum by making new 52-week highs this week, and they are ranked by market capitalization in the table below.
The biggest company making new highs is Brookfield Asset Management, followed by Shopify Inc., TC Energy Corp., Canadian pacific railway Ltd., Waste Connections Inc., Constellation Software Inc., Brookfield Infrastructure Partners LP and Fortis Inc.
There is only one stock, Frontera Energy Corp., hitting new 52-week lows
Stocks falling to 52-week lows
Return 1W % Return YTD %
FEC-T FRONTERA ENERGY CORP -6.594594 -9.928237
Stocks hitting 52-week highs
Return 1W % Return YTD % Market Cap
BAM-A-T BROOKFIELD ASSET MANAGE-CL A 3.52 17.85 93,354,951,556
SHOP-T SHOPIFY INC - CLASS A 12.31 36.82 83,238,463,681
TRP-T TC ENERGY CORP 1.01 6.85 69,629,243,345
CP-T CANADIAN PACIFIC RAILWAY LTD 0.58 9.61 49,489,734,195
WCN-T WASTE CONNECTIONS INC 2.38 15.64 35,774,773,052
CSU-T CONSTELLATION SOFTWARE INC 2.70 19.85 31,299,889,810
BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 0.67 13.07 29,112,215,684
FTS-T FORTIS INC 1.87 8.46 27,138,646,278
H-T HYDRO ONE LTD 3.86 14.67 17,227,584,966
CU-T CANADIAN UTILITIES LTD-A 2.24 7.41 11,445,536,290
AQN-T ALGONQUIN POWER & UTILITIES 7.63 17.42 11,344,192,710
CAR-UN-T CAN APARTMENT PROP REAL ESTA 0.99 10.01 9,944,067,713
AP-UN-T ALLIED PROPERTIES REAL ESTAT 4.47 12.92 7,245,580,244
ACO-X-T ATCO LTD -CLASS I 3.57 8.42 6,228,787,096
ALA-T ALTAGAS LTD 1.54 10.59 6,159,178,298
CIGI-T COLLIERS INTERNATIONAL GROUP 3.03 14.65 4,736,798,684
TFII-T TFI INTERNATIONAL INC 7.86 9.78 4,111,914,329
GRT-UN-T GRANITE REAL ESTATE INVESTME 0.59 11.62 3,980,274,536
CT-UN-T CT REAL ESTATE INVESTMENT TR 1.58 3.70 3,824,802,462
OSB-T NORBORD INC 8.12 25.71 3,539,162,078
KXS-T KINAXIS INC 1.49 16.29 3,077,006,086
BLX-T BORALEX INC -A 5.16 25.88 2,975,928,591
CUF-UN-T COMINAR REAL ESTATE INV-TR U 1.34 6.93 2,751,702,725
BEI-UN-T BOARDWALK REAL ESTATE INVEST 3.57 9.40 2,544,301,034
NVU-UN-T NORTHVIEW APARTMENT REAL EST 1.91 8.23 2,432,026,740
DIR-UN-T DREAM INDUSTRIAL REAL ESTATE 2.44 8.90 2,427,894,069
TCN-T TRICON CAPITAL GROUP INC 1.72 11.01 2,298,909,042
IIP-UN-T INTERRENT REAL ESTATE INVEST 1.47 10.53 2,146,474,312
NWH-UN-T NORTHWEST HEALTHCARE PROPERT 5.40 10.24 2,019,091,872
D-UN-T DREAM OFFICE REAL ESTATE INV 2.71 8.66 1,992,386,020
SMU-UN-T SUMMIT INDUSTRIAL INCOME REI 3.30 14.50 1,882,609,458
AIF-T ALTUS GROUP LTD 1.78 17.65 1,806,014,907
REAL-T REAL MATTERS INC 11.47 30.11 1,340,539,199
This week's overbought and oversold stocks
Oversold RSI Price 200DMA Retrn 1W % Return YTD % PE Ratio TTM PE Ratio Fwd
CHE-UN-T CHEMTRADE LOGISTICS INCOM FD 18.39 8.66 10.23 -1.91 -20.21 #N/A N/A #N/A N/A
PVG-T PRETIUM RESOURCES INC 18.69 9.80 13.95 -27.08 -31.97 26.96 14.03
FTT-T FINNING INTERNATIONAL INC 25.23 21.82 23.33 -10.53 -15.34 13.37 12.27
Overbought RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd
BLX-T BORALEX INC -A 92.55 30.84 22.18 5.16 25.88 #N/A N/A 124.35
H-T HYDRO ONE LTD 89.44 28.86 24.28 3.86 14.67 18.82 20.50
NPI-T NORTHLAND POWER INC 86.44 31.44 26.27 2.56 15.16 23.27 23.64
CPX-T CAPITAL POWER CORP 84.91 38.13 31.85 1.90 9.22 18.32 14.15
BEP-UN-T BROOKFIELD RENEWABLE PARTNER 84.51 71.38 52.97 2.08 17.11 #N/A N/A 299.22
INE-T INNERGEX RENEWABLE ENERGY 84.39 21.55 15.87 2.56 28.29 138.23 57.77
PBH-T PREMIUM BRANDS HOLDINGS CORP 82.37 101.40 90.85 2.90 11.42 37.32 25.68
BAM-A-T BROOKFIELD ASSET MANAGE-CL A 82.01 88.90 70.55 3.52 17.85 18.39 #N/A N/A
AP-UN-T ALLIED PROPERTIES REAL ESTAT 81.75 58.99 51.65 4.47 12.92 37.44 #N/A N/A
NFI-T NFI GROUP INC 81.24 33.90 30.37 2.85 27.28 19.56 11.66
PPL-T PEMBINA PIPELINE CORP 81.21 52.48 48.48 1.08 9.82 17.03 21.75
SHOP-T SHOPIFY INC - CLASS A 80.97 710.17 457.78 12.31 36.82 #N/A N/A 2014.50
SMU-UN-T SUMMIT INDUSTRIAL INCOME REI 80.55 13.81 12.71 3.30 14.50 #N/A N/A #N/A N/A
NWH-UN-T NORTHWEST HEALTHCARE PROPERT 80.27 13.18 11.95 5.40 10.24 #N/A N/A #N/A N/A
AQN-T ALGONQUIN POWER & UTILITIES 79.71 21.61 17.60 7.63 17.42 26.20 21.80
REAL-T REAL MATTERS INC 79.56 15.82 10.14 11.47 30.11 5.92 30.84
TA-T TRANSALTA CORP 78.83 10.81 8.69 5.63 15.30 #N/A N/A #N/A N/A
DOO-T BRP INC/CA- SUB VOTING 78.66 74.92 52.42 8.26 25.61 20.78 17.55
OSB-T NORBORD INC 77.80 43.46 33.40 8.12 25.71 #N/A N/A 14.41
RNW-T TRANSALTA RENEWABLES INC 76.75 17.59 14.34 1.91 13.70 26.11 21.77
KMP-UN-T KILLAM APARTMENT REAL ESTATE 76.55 21.45 19.66 2.54 11.18 15.64 #N/A N/A
WCN-T WASTE CONNECTIONS INC 76.40 135.62 122.98 2.38 15.64 43.59 35.21
STN-T STANTEC INC 76.03 41.91 32.77 1.35 14.22 26.98 17.97
CSU-T CONSTELLATION SOFTWARE INC 76.03 1474.66 1287.19 2.70 19.85 69.78 30.23
CJT-T CARGOJET INC 75.92 122.00 96.00 0.52 18.17 76.90 90.17
TRP-T TC ENERGY CORP 75.76 74.12 67.13 1.01 6.85 17.07 18.09
BEI-UN-T BOARDWALK REAL ESTATE INVEST 75.61 50.34 44.09 3.57 9.40 150.25 #N/A N/A
GRT-UN-T GRANITE REAL ESTATE INVESTME 75.56 73.68 64.73 0.59 11.62 26.89 #N/A N/A
FSV-T FIRSTSERVICE CORP 75.46 147.29 128.43 -0.67 21.81 #N/A N/A 33.27
ACO-X-T ATCO LTD -CLASS I 75.46 54.25 47.68 3.57 8.42 8.33 18.15
WN-T WESTON (GEORGE) LTD 75.37 110.07 105.27 1.37 6.71 18.21 14.43
D-UN-T DREAM OFFICE REAL ESTATE INV 74.91 34.10 27.81 2.71 8.66 32.83 #N/A N/A
IIP-UN-T INTERRENT REAL ESTATE INVEST 74.81 17.26 15.35 1.47 10.53 12.26 #N/A N/A
AIF-T ALTUS GROUP LTD 74.59 44.93 36.21 1.78 17.65 122.63 3.86
BCB-T COTT CORPORATION 74.23 20.92 17.65 0.91 18.38 113.07 42.08
CIGI-T COLLIERS INTERNATIONAL GROUP 73.72 119.00 94.79 3.03 14.65 26.88 17.20
NVU-UN-T NORTHVIEW APARTMENT REAL EST 73.14 32.13 28.87 1.91 8.23 18.37 #N/A N/A
BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 72.76 73.65 62.85 0.67 13.07 2625.25 53.42
TCN-T TRICON CAPITAL GROUP INC 72.64 11.83 10.53 1.72 11.01 13.86 11.07
ECN-T ECN CAPITAL CORP 72.28 5.98 4.62 -2.94 24.22 196.28 13.16
SLF-T SUN LIFE FINANCIAL INC 72.26 66.25 57.42 2.46 10.23 15.20 12.07
CIX-T CI FINANCIAL CORP 71.95755 25.22 20.7199 -0.1230012 12.20636 10.86578571 9.840031213
IFC-T INTACT FINANCIAL CORP 71.9259 151.75 130.606 -1.433785 7.705455 33.69933663 18.4655634
FNV-T FRANCO-NEVADA CORP 71.48888 153.3 122.4958 0.1383855 13.32687 76.21503896 54.48512729
SNC-T SNC-LAVALIN GROUP INC 71.46347 33.75 24.16565 3.021978 12.68781 #N/A N/A 19.48614319
HBC-T HUDSON'S BAY CO 71.37686 10.94 9.4709 -0.1824818 10.72874 #N/A N/A #N/A N/A
TFII-T TFI INTERNATIONAL INC 71.17215 47.07 41.6354 7.856341 9.778387 13.89605201 11.46092038
EFN-T ELEMENT FLEET MANAGEMENT COR 70.19117 13.17 10.76735 -0.3782148 18.75564 18.60387599 13.37055838
T-T TELUS CORP 70.16437 53.63 49.2811 0.8880666 8.452665 18.69160219 18.44222834
Source: Bloomberg/Scott Barlow