The S&P/TSX Composite rose a scant 0.1 per cent for the week ending with Friday’s close to stand 10.1 p-er cent higher for 2024. The benchmark’s Relative Strength Index (RSI) of 62 leaves it far closer to the overbought sell signal of 70 than the oversold, technically attractive RSI buy signal of 30.
There is only one stock, Superior Plus Corp., trading with an RSI below the buy signal this week. There area 25 index constituents trading with temporarily vulnerable RSIs above 70. These are led by Stelco Holdings Inc., Canadian Western Bank, Metro Inc., Colliers International Group and Park Lawn Corp.
There are 14 stocks showing strong price momentum by hitting new 52-week highs, ranked by market capitalization below. The biggest companies making new highs are Constellation Software Inc., TC Energy Corp., Loblaw Companies Ltd., Pembina Pipeline Corp. and George Weston Ltd.
There are no stocks hitting new 52-week lows.
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