Still Oversold The S&P/TSX Composite Index climbed another 1.4 per cent for the trading weekend ending with Thursday’s close and the benchmark now stands 5.2 per cent for the year. The index’s Relative Strength Index (RSI) of 57 leaves it in technically neutral territory, not far from the midpoint between the oversold RSI buy signal of 30 and the overbought sell signal of 70.
There are seven oversold, technically attractive index members trading with RSIs below 30 this week. The five most oversold companies are, in order, Canopy Growth Corp., Artis REIT, Northwest Healthcare Properties REIT, GoEasy Ltd. and Nutrien Ltd.