Oversold The week's most oversold and overbought stocks on the TSX
GWO.TSX, AD.TSX, CXR.TSX, CCO.TSX, CIX.TSX, TRQ.TSX, X.TSX, OSB.TSX, IFP.TSX, BB.TSX, SLW.TSX, FCR.TSX
The S&P/TSX Composite felt a scant 0.16 per cent for the trading week ending with Thursday's close and stands higher by 13.7 per cent year to date.
In terms of technical analysis, the domestic equity benchmark is also little changed according to Relative Strength Index (RSI). The current RSI reading of 59 puts it in neutral territory but the level remains much closer to the RSI sell signal of 70 than the buy signal of 30.
There are six technically attractive, oversold TSX constituents by RSI this week - trading below the buy signal of 30 - led by Alaris Royalty Corp. The others are Concordia International Corp., Cameco Corp., CI Financial Corp., Great-West Lifeco Inc., and Uni-select Inc.
None of the oversold stocks, however, are trading above their respective 200-day moving averages which suggests that RSI buy signals will be less effective. The most oversold stock trading above its 200-day is Turquoise Hill Resources Ltd., so it's our focus chart for the week.