The S&P/TSX Composite is even more overbought and vulnerable to a short-term drop this week after climbing 0.8 per cent to Thursday’s close.
The benchmark’s Relative Strength Index (RSI) reading of 81 is well above the sell signal of 70, and nowhere near the oversold RSI buy signal of 30.
There are three index members trading in attractive technical territory with RSIs below 30. Enerplus Corp. is the most oversold company in the benchmark, followed by Spin Master Corp. and Bombardier Inc..
The list of overbought TSX stocks is huge at 42 members, as we’d expect in light of the overall market’s strong recent performance.
Fortis Inc. is the most overbought company in the index, followed by Choice Properties REIT and Emera Inc. Other prominent overbought names include Shopify Inc., Telus Corp. and Hydro One Ltd.
There are 31 S&P/TSX Composite members showing strong price momentum by making new 52-week highs, and they are ranked by market capitalization in the table below. Enbridge Inc. is the biggest company hitting new highs, followed by Brookfield Asset Management, Shopify Inc., TC Energy Corp. and Telus Corp.
There are three benchmark constituents hitting new 52-week lows this week – Nutrien Ltd., Spin Master Corp. and Enerplus Corp.
Stocks falling to 52-week lows
Return 1W % Return YTD % NTR-T NUTRIEN LTD -3.01 -4.25 TOY-T SPIN MASTER CORP-SUB VTG SHR -11.98 -14.11 ERF-T ENERPLUS CORP -13.81 -21.08
Stocks hitting 52-week highs
Return 1W % Return YTD % ENB-T ENBRIDGE INC 2.01 4.30 BAM-A-T BROOKFIELD ASSET MANAGE-CL A 2.09 9.49 SHOP-T SHOPIFY INC - CLASS A 4.69 19.29 TRP-T TC ENERGY CORP 2.77 4.19 T-T TELUS CORP 2.44 3.60 GIB-A-T CGI INC 0.58 4.49 BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 2.47 9.93 FNV-T FRANCO-NEVADA CORP 3.93 6.43 FTS-T FORTIS INC 4.08 7.50 PPL-T PEMBINA PIPELINE CORP 1.73 6.03 NA-T NATIONAL BANK OF CANADA 0.55 2.26 H-T HYDRO ONE LTD 2.27 5.86 EMA-T EMERA INC 5.27 7.80 CU-T CANADIAN UTILITIES LTD-A 1.69 2.94 CHP-UN-T CHOICE PROPERTIES REIT 1.83 7.91 AQN-T ALGONQUIN POWER & UTILITIES 4.09 8.00 CAR-UN-T CAN APARTMENT PROP REAL ESTA 2.24 7.53 AP-UN-T ALLIED PROPERTIES REAL ESTAT 1.97 6.22 X-T TMX GROUP LTD 3.24 6.75 BTO-T B2GOLD CORP 4.12 6.72 NPI-T NORTHLAND POWER INC 2.93 7.06 YRI-T YAMANA GOLD INC 6.58 0.78 NG-T NOVAGOLD RESOURCES INC 4.66 4.30 CPX-T CAPITAL POWER CORP 1.99 4.10 GRT-UN-T GRANITE REAL ESTATE INVESTME 2.53 8.15 KXS-T KINAXIS INC 4.31 11.44 CUF-UN-T COMINAR REAL ESTATE INV-TR U 1.23 4.38 BLX-T BORALEX INC -A 3.21 10.38 D-U-T DREAM OFFICE REAL ESTATE INV 1.55 5.36 AIF-T ALTUS GROUP LTD 4.58 16.02 ECN-T ECN CAPITAL CORP 2.42 6.05
Oversold RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd ERF-T ENERPLUS CORP 22.25 7.30 9.44 -13.81 -21.08 5.99 7.21 TOY-T SPIN MASTER CORP-SUB VTG SHR 23.22 33.96 40.10 -11.98 -14.11 26.93 28.17 BBD-B-T BOMBARDIER INC-B 25.33 1.23 1.98 0.82 -36.27 #N/A N/A #N/A N/A Overbought RSI Price 200DMA Return 1W % Return YTD % PE Ratio TTM PE Ratio Fwd FTS-T FORTIS INC 85.13 57.92 53.09 4.08 7.50 22.94 20.37 CHP-UN-T CHOICE PROPERTIES REIT 84.49 15.01 13.89 1.83 7.91 #N/A N/A #N/A N/A EMA-T EMERA INC 84.29 60.14 54.58 5.27 7.80 22.53 21.63 SHOP-T SHOPIFY INC - CLASS A 84.15 615.88 431.58 4.69 19.29 #N/A N/A 627.74 AIF-T ALTUS GROUP LTD 82.07 44.04 34.94 4.58 16.02 120.20 3.79 INE-T INNERGEX RENEWABLE ENERGY 81.79 18.57 15.44 3.00 10.14 119.12 147.38 BAM-A-T BROOKFIELD ASSET MANAGE-CL A 81.15 82.15 69.07 2.09 9.49 12.58 #N/A N/A TSX-I S&P/TSX COMPOSITE INDEX 80.88001 17621.78 16611.06 0.7924456 3.407204 17.93430676 15.54232051 TRI-T THOMSON REUTERS CORP 80.84927 103.47 89.26685 0.8971233 11.38982 175.2421102 47.34390815 ATZ-T ARITZIA INC-SUBORDINATE VOTI 80.83823 25.08 18.4011 3.508048 31.65354 32.75669524 24.37317784 ENB-T ENBRIDGE INC 80.2874 53.85 48.25815 2.007956 4.299826 19.60330998 20.61638591 BLX-T BORALEX INC -A 79.85 27.00 21.44 3.21 10.38 #N/A N/A #N/A N/A STN-T STANTEC INC 79.81 39.41 32.19 2.07 7.38 25.37 16.83 NPI-T NORTHLAND POWER INC 78.94 29.12 25.79 2.93 7.06 21.56 #N/A N/A CPX-T CAPITAL POWER CORP 78.85 35.80 31.47 1.99 4.10 17.20 8.19 LSPD-T LIGHTSPEED POS INC-SUB VOTE 78.38 45.60 33.73 9.01 26.42 #N/A N/A #N/A N/A CGX-T CINEPLEX INC 78.33 33.89 25.53 -0.09 0.12 39.21 #N/A N/A RNW-T TRANSALTA RENEWABLES INC 77.36 16.36 14.10 3.02 5.94 24.28 #N/A N/A D-UN-T DREAM OFFICE REAL ESTATE INV 77.07 32.80 27.12 1.55 5.36 31.58 #N/A N/A EFN-T ELEMENT FLEET MANAGEMENT COR 76.98 12.70 10.41 2.67 14.52 17.94 12.92 T-T TELUS CORP 76.84 52.09 48.98 2.44 3.60 18.28 17.44 WCN-T WASTE CONNECTIONS INC 76.21 128.04 122.07 0.50 8.55 42.32 34.50 GRT-UN-T GRANITE REAL ESTATE INVESTME 76.15 71.36 63.98 2.53 8.15 26.05 #N/A N/A AQN-T ALGONQUIN POWER & UTILITIES 76.04 19.84 17.21 4.09 8.00 24.27 19.10 BIP-UN-T BROOKFIELD INFRASTRUCTURE PA 75.86 71.30 61.59 2.47 9.93 #N/A N/A 49.76 PPL-T PEMBINA PIPELINE CORP 75.47 50.82 48.35 1.73 6.03 16.49 20.80 MIC-T GENWORTH MI CANADA INC 74.13 60.37 46.83 -0.38 6.25 11.80 11.63 WSP-T WSP GLOBAL INC 74.06 94.53 77.89 0.62 6.61 30.49 23.20 H-T HYDRO ONE LTD 74.03622 26.55 23.8285 2.272727 5.861244 #N/A N/A 18.7235543 IAG-T IA FINANCIAL CORP INC 73.63824 73.65 59.1569 0.890411 3.252488 12.44087864 11.06354214 FNV-T FRANCO-NEVADA CORP 73.57038 142.71 118.5533 3.932707 6.428518 71.59022698 51.15674128 X-T TMX GROUP LTD 73.51183 120.04 104.1514 3.242453 6.749667 25.2855261 21.06334445 HBC-T HUDSON'S BAY CO 73.44828 10.9 9.2151 0 10.32389 #N/A N/A #N/A N/A CIX-T CI FINANCIAL CORP 72.96371 23.27 20.3506 0.9982639 7.185629 10.48198219 9.234126984 NFI-T NFI GROUP INC 72.87038 30.31 30.44445 5.133542 13.73358 17.65011549 10.50410024 IIP-UN-T INTERRENT REAL ESTATE INVEST 72.59232 16.88 15.10855 2.926829 7.928389 11.99199148 #N/A N/A AP-UN-T ALLIED PROPERTIES REAL ESTAT 72.51881 55.31 51.0304 1.972714 6.222393 34.17408292 #N/A N/A TRP-T TC ENERGY CORP 71.71452 72.06 66.36125 2.766686 4.193175 17.4353102 17.71821982 CLS-T CELESTICA INC 71.65317 11.69 9.6322 0.4295533 8.542247 33.20894982 12.53600453 PBH-T PREMIUM BRANDS HOLDINGS CORP 71.59479 94.4 89.27905 0.4682844 3.781882 34.74163359 23.84440515 CJT-T CARGOJET INC 71.45515 113.2 92.95583 0.008834703 9.551921 71.35203085 84.79400749 BMO-T BANK OF MONTREAL 71.30643 104.25 99.5153 0.8610681 3.587043 11.29092351 10.61717079 NVU-UN-T NORTHVIEW APARTMENT REAL EST 71.11311 31.35 28.63785 1.096421 5.769231 17.92335003 #N/A N/A
Scott Barlow