The week’s most oversold and overbought stocks on the TSX
The S&P/TSX Composite climbed an impressive 3.5 per cent for 2021′s first trading week ending with Thursday’s close.
The rally leaves the benchmark firmly in overbought territory according to Relative Strength Index (RSI) as the current reading of 72 is above the sell signal of 70.
There are, predictably, a large number of index constituents (35) trading at frothy, overbought levels.
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Energy stocks top the list of most overbought companies as Husky Energy Inc., Innergex Renewable Energy Inc., TransAlta Corp. and Transalta Renewables Inc. are the most extended stocks in the benchmark.
The market rotation to economically sensitive equity assets is clear in the overbought list this week as it’s difficult to find stocks not from commodities, industrials or banks sectors.
There is one S&P/TSX Composite company, Emera Inc., that finished the week with a technically attractive, oversold RSI below the buy signal of 30 after the utility fell more than four per cent. Chartwell Retirement Residences is right on the border of oversold with an RSI at 30.
There are 26 benchmark stocks showing strong price momentum by hitting new 52-week highs and they are ranked by market capitalization in the table below. Canadian Pacific Railway Ltd., Brookfield Renewable Partners LP and First Quantum Minerals Ltd. are the three largest companies making new highs.
There are no index stocks hitting new 52-week lows.
Stocks hitting 52-week highs
Return 1W %
Return YTD %
Market Cap
CP-T
CANADIAN PACIFIC RAILWAY LTD
6.39
6.39
63,846,361,701
BEP-UN-T
BROOKFIELD RENEWABLE PARTNER
12.10
12.10
25,424,360,589
FM-T
FIRST QUANTUM MINERALS LTD
14.75
14.75
17,924,680,644
WEED-T
CANOPY GROWTH CORP
23.79
23.79
14,089,456,823
TECK-B-T
TECK RESOURCES LTD-CLS B
8.96
8.96
13,129,824,655
CCL-B-T
CCL INDUSTRIES INC – CL B
5.99
5.99
10,976,736,823
CTC-A-T
CANADIAN TIRE CORP-CLASS A
4.06
4.06
10,712,504,395
BLDP-T
BALLARD POWER SYSTEMS INC
19.68
19.68
10,069,113,276
NPI-T
NORTHLAND POWER INC
5.47
5.47
9,922,212,540
IVN-T
IVANHOE MINES LTD-CL A
11.81
11.81
9,076,985,366
LUN-T
LUNDIN MINING CORP
9.29
9.29
8,802,800,994
CCO-T
CAMECO CORP
9.15
9.15
7,240,027,089
INE-T
INNERGEX RENEWABLE ENERGY
14.65
14.65
5,614,519,686
BLX-T
BORALEX INC -A
10.92
10.92
5,546,112,370
FTT-T
FINNING INTERNATIONAL INC
9.14
9.14
4,780,432,303
LNR-T
LINAMAR CORP
6.20
6.20
4,664,671,175
MX-T
METHANEX CORP
4.02
4.02
4,514,617,740
SJ-T
STELLA-JONES INC
3.69
3.69
3,175,756,427
CFP-T
CANFOR CORP
2.26
2.26
2,963,943,198
HBM-T
HUDBAY MINERALS INC
7.74
7.74
2,411,541,954
ATA-T
ATS AUTOMATION TOOLING SYS
10.60
10.60
2,286,311,030
SEA-T
SEABRIDGE GOLD INC
7.58
7.58
2,063,830,799
ERO-T
ERO COPPER CORP
10.68
10.68
1,907,931,768
ECN-T
ECN CAPITAL CORP
6.49
6.49
1,694,187,816
IFP-T
INTERFOR CORP
1.60
1.60
1,601,142,096
RUS-T
RUSSEL METALS INC
2.86
2.86
1,448,909,987
This week’s overbought and oversold stocks
OVERSOLD STOCKS
RSI
Price
200DMA
Return 1W %
Retrun YTD %
PE Ratio TTM
PE Ratio Fwd
EMA-T
EMERA INC
26.17
52.38
54.32
-4.09
-4.09
21.01
16.71
OVERBOUGHT STOCKS
RSI
Price
200DMA
Return 1W %
Retrun YTD %
PE Ratio TTM
PE Ratio Fwd
HSE-T
HUSKY ENERGY INC
#N/A N/A
6.76
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
#N/A N/A
INE-T
INNERGEX RENEWABLE ENERGY
85.95
32.12
22.02
14.65
14.65
#N/A N/A
87.28
TA-T
TRANSALTA CORP
84.68
10.49
8.32
7.86
7.86
#N/A N/A
#N/A N/A
RNW-T
TRANSALTA RENEWABLES INC
83.78
23.85
16.02
8.69
8.69
49.65
27.45
BLX-T
BORALEX INC -A
83.28
54.24
34.15
10.92
10.92
115.79
83.06
EQB-T
EQUITABLE GROUP INC
82.61
111.00
77.12
9.62
9.62
9.23
7.82
BEP-UN-T
BROOKFIELD RENEWABLE PARTNER
79.97
62.68
41.25
12.10
12.10
#N/A N/A
#N/A N/A
IVN-T
IVANHOE MINES LTD-CL A
79.94
7.52
4.51
11.81
11.81
#N/A N/A
#N/A N/A
FM-T
FIRST QUANTUM MINERALS LTD
79.68
26.28
12.63
14.75
14.75
#N/A N/A
31.11
LUN-T
LUNDIN MINING CORP
79.51
12.06
7.81
9.29
9.29
47.38
17.14
CP-T
CANADIAN PACIFIC RAILWAY LTD
78.54
475.65
376.20
6.39
6.39
27.38
24.15
FTT-T
FINNING INTERNATIONAL INC
77.62
29.54
20.47
9.14
9.14
27.81
18.56
ECN-T
ECN CAPITAL CORP
76.26
6.92
4.85
6.49
6.49
47.36
12.11
CVE-T
CENOVUS ENERGY INC
74.66
8.61
5.76
11.10
11.10
#N/A N/A
#N/A N/A
RUS-T
RUSSEL METALS INC
74.33
23.25
17.71
2.86
2.86
60.27
16.95
IMO-T
IMPERIAL OIL LTD
74.27
27.87
20.73
15.52
15.52
#N/A N/A
36.53
ATA-T
ATS AUTOMATION TOOLING SYS
74.21
24.77
19.10
10.60
10.60
41.45
20.76
BLDP-T
BALLARD POWER SYSTEMS INC
73.83
35.93
20.09
19.68
19.68
#N/A N/A
#N/A N/A
TD-T
TORONTO-DOMINION BANK
73.74
74.28
62.35
4.07
4.07
11.49
12.80
SLF-T
SUN LIFE FINANCIAL INC
73.60
61.32
52.37
7.23
7.23
16.95
10.72
GC-T
GREAT CANADIAN GAMING CORP
73.34
43.24
28.76
-0.62
-0.62
293.98
#N/A N/A
HCG-T
HOME CAPITAL GROUP INC
73.00481
31.56
22.3408
6.094276
6.094276
10.7346937
8.136117556
CCO-T
CAMECO CORP
73.00
18.36
13.97
9.15
9.15
#N/A N/A
#N/A N/A
PSI-T
PASON SYSTEMS INC
72.82
8.55
6.70
7.99
7.99
44.58
#N/A N/A
BHC-T
BAUSCH HEALTH COS INC
72.61
29.17
23.86
9.54
9.54
#N/A N/A
5.64
CPG-T
CRESCENT POINT ENERGY CORP
72.50
3.52
2.08
17.51
17.51
11.08
49.58
MFC-T
MANULIFE FINANCIAL CORP
72.47
24.04
19.07
5.78
5.78
9.11
7.83
NPI-T
NORTHLAND POWER INC
72.29
48.97
36.74
5.47
5.47
24.25
27.60
SES-T
SECURE ENERGY SERVICES INC
71.92
3.04
1.63
24.39
24.39
#N/A N/A
#N/A N/A
NTR-T
NUTRIEN LTD
70.92
65.05
51.45
6.96
6.96
35.57
24.87
LNR-T
LINAMAR CORP
70.54
71.35
43.73
6.20
6.20
17.68
11.63
CFP-T
CANFOR CORP
70.28
23.75
14.60
2.26
2.26
9.74
5.29
MAG-T
MAG SILVER CORP
70.20
26.75
19.74
7.87
7.87
#N/A N/A
397.35
ERF-T
ENERPLUS CORP
70.05
4.62
3.31
15.83
15.83
#N/A N/A
16.86
CHE-UN-T
CHEMTRADE LOGISTICS INCOM FD
70.02
6.10
5.19
5.32
5.32
#N/A N/A
#N/A N/A
Source: Bloomberg
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Riel Roussopoulos
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