OversoldAnd more so this morning. GLTA
The S&P/TSX Composite endured a bit of a beating for the trading week ending with Friday’s close, falling 3.9 per cent. This wiped out more than half of the year to date return which is now 2.6 per cent.
Relative Strength Index (RSI) for the benchmark at 32 leaves it far closer to the oversold, technically attractive buy signal of 30 than the overbought, RSI sell signal of 70.
Real estate and financials dominate the list of 26 index stocks trading at oversold levels below the RSI buy signal of 30. First Capital REIT is the most oversold stock in the benchmark. Toronto-Dominion Bank, Bank of Montreal and Brookfield Corp. are also among the ten most oversold companies in the index.