The S&P/TSX Composite rose a marginal 0.4 per cent for the trading week ending with Friday’s close despite considerable volatility. Technically, the benchmark’s at 48 leaves it close to the midpoint between the attractive, oversold signal at 30 and the overbought RSI sell signal at 70.
There are 14 stocks starting the week with attractive RSIs below the buy signal. The most oversold companies are Pason Systems Inc., Parex Resources Inc., Advantage Energy Ltd., Energy Fuels Inc., and Premium Brands Holdings Corp. There are 13 index constituents with temporarily vulnerable RSIs above 70. Enbridge Inc. is the most overbought stock followed by Park Lawn Corp., Quebecor inc., Stelco Holdings Inc. and Sleep Country Canada Holdings Inc.
There are six stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in a table below. Enbridge Inc. is the biggest company making new highs and IA Financial Corp. Inc., Keyera Corp., Atco Ltd., Chartwell Retirement Residences and Dundee Precious Metals Inc.