A tough week for markets saw the S&P/TSX Composite drop another 4.6 per cent for the trading week ending with Friday’s close. The benchmark now sits 11.0 per cent lower for 2022.. The current reading of 31 is just above the oversold buy signal of 30.
There are 50 stocks, more than 20 per cent of the index, that are oversold this week and the 25 most oversold are listed in the table below. The top 10, in order, are Transalta Renewables Inc., Corus Entertainment Inc., H&R REIT, Cargojet Inc., Northwest Healthcare Properties REIT, CAE Inc., Superior Plus Corp., Canfor Corp., Maple Leaf Foods Inc. and Algonquin Power and Utilities Corp.
There are, unsurprisingly given market weakness, no stocks trading in overbought territory above the RSI sell signal of 70. There are also no S&P/TSX Composite constituents showing strong price momentum by hitting new 52-week highs. The companies making new 52-week lows are ranked by market capitalization in the table below.
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