A look at equities with price momentum in both directions
of 47 leaves it in neutral technical territory, not far from the midpoint between the oversold by signal of 30 and the overbought RSI sell signal at 70.
There are only two index stocks trading with attractive RSIs below 30 this week – West Fraser Timber Co. Ltd. and Air Canada - which is surprising in light of the benchmark’s decline over the past week. There are 14 index constituents trading with technical vulnerable RSIs above the sell signal this week. The five most overbought stocks are RB Global Inc., Canopy Growth Corp., Cenovus Energy Corp., Precision Drilling Corp. and Celestica Inc.
There are two companies with stock prices showing strong momentum by hitting new 52-week highs – Parkland Corp. and Paramount Resources. There are five stock prices hitting new 52-week lows and these are sorted by market capitalization below. Canadian National Railway Co. is the biggest company hitting new lows, followed by Canadian Imperial Bank of Commerce, Aritzia Inc., Canfor Corp., and MAG Silver Corp.
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