Still Oversold 3 The S&P/TSX Composite fell 1.6 per cent for the trading week ending with Friday’s close and is now only 4.7 per cent higher for the year. The benchmark’s Relative Strength Index (RSI) of 38 leaves it closer to the technically attractive buy signal of 30 than the overbought RSI sell signal of 70.
There are nine index stocks trading with attractive oversold RSIs below 30. Pet Valu Holdings Ltd. is the most oversold company followed by Magna International Inc., National Bank of Canada, Canadian Natural Resources Ltd. and Algonquin Power and Utilities Ltd.