Still Oversold The S&P/TSX Composite dropped another 1.9 per cent during the trading week ending with Friday’s close and is now down for the year at -0.62 per cent. The benchmark only barely avoided oversold territory with a Relative Strength Index (RSI) of that is right at the oversold RSI buy signal of 30.
There are even more oversold, technically attractive index constituents – 51 - by RSI this week than last. The five most oversold companies are Westshore Terminals Investment Corp., CI Financial Corp., IGM Financial Inc., Park Lawn Corp. and Laurentian Bank of Canada. Brookfield Infrastructure Partners and Canada Goose Holdings Inc. are also among the top 10 most oversold stocks.