The most oversold and overbought stocks on the TSX

The S&P/TSX Composite dropped another 1.0 per cent for the trading week ending with Friday’s close and now stands 3.4 per cent higher year to date. The index’s of 36 puts it in the lower end of the technically neutral range, closer to the oversold buy signal of 30 than the RSI sell signal of 70.

There are 37 oversold, technically attractive benchmark constituents this week trading with RSIs below 30. The five most oversold companies are Algonquin Power & Utilities Corp., Innergex Renewable Energy Inc., Park Lawn Corp., IGM Financial Inc. and Northwest Healthcare Properties REIT. There are only two stocks – Athabasca Oil Corp. and Imperial Oil Ltd. – at overbought levels with RSIs over 70.

There are also two stocks showing strong price momentum by hitting new 52-week highs. Athabasca is featured again along with Celestica Inc. There are 17 S&P/TSX Composite companies with new 52-week lows and they are ranked by market capitalization in the table below. The largest stocks making new lows are Enbridge Inc., Bank of Nova Scotia, Brookfield Renewable Partners LP, Emera Inc. and Canadian Utilities Ltd.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analysts’ forecast returns and recommendations for all stocks in the S&P/TSX Composite IndexStorm clouds may soon part for investors
Source: globeandmail - 🏆 5. / 92 Read more »

U.S. stock market’s powerhouses tested by soaring bond yieldsSome investors say the megacaps could be vulnerable if climbing bond yields keep pressuring stocks
Source: globeandmail - 🏆 5. / 92 Read more »

London on Cusp of Becoming Biggest Stock Market in Europe, AgainBritain’s stock market is getting back on its feet.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

London on Cusp of Becoming Biggest Stock Market in Europe, Again(Bloomberg) -- Britain’s stock market is getting back on its feet.Most Read from BloombergSenate Voting on Bill to Avert US Government ShutdownOnce Unthinkable Bond Yields Now the New Normal For MarketsCongress Averts US Government Shutdown Hours Before DeadlineEurope’s Richest Royal Family Builds $300 Billion Finance EmpireWeight-Loss Drugs Estimated to Save Airlines MillionsLess than a year after losing the crown of Europe’s biggest equity market, London looks set to recapture it from Paris, a
Source: YahooFinanceCA - 🏆 47. / 63 Read more »