The S&P/TSX Composite climbed another 0.9 per cent for the trading week ending with Friday’s close and stands a very respectable 18.1 per cent higher for 2024.
There is only one company, Novagold Resources Inc., with an attractive oversold RSI below the 30 buy signal. Boardwalk REIT is on the border of oversold but didn’t quite make it official. There are 24 index constituents with overbought RSIs above the sell signal at 70. The five most overbought companies in the index are CI Financial Corp., IA Financial Corp., Manulife Financial Corp., Transalta Corp. and Keyera Corp.
There are 21 companies showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization in the table below. The five biggest companies making new highs are Manulife Financial Corp., TC Energy Corp., Sun Life Financial Inc., Fairfax Financial Holdings Ltd. and Pembina Pipeline Corp.
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Source: BNNBloomberg - 🏆 83. / 50 Read more »