The most oversold and overbought stocks on the TSX

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Index Notícia

Stock,Benchmark,Bank

A look at equities with momentum in both directions

The S&P/TSX Composite climbed another 1.4 per cent for the shortened trading week ending with Friday’s close and the entire index is now extremely overbought. The benchmark’sThere is only one stock, TD Bank, trading with an attractive RSI below the oversold buy signal of 30.

The list of overbought index constituents is long at 56 members, which is to be expected with the benchmark’s high RSI. The five most overbought stocks are Brookfield Asset Management, Cameco Corp., Nexgen Energy Ltd., Atkinsrealis Group Inc. and IA Financial Corp. The list of stocks showing strong price momentum by hitting new highs is enormous at 47 members, the most I can ever remember seeing. The companies are ranked by market capitalization in the table below. The biggest companies making new highs are Brookfield Corp., Enbridge Inc., Bank of Nova Scotia, Canadian Imperial Bank of Commerce and TC Energy Corp.

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