Oversold The S&P/TSX Composite fell 1.4 per cent for the trading week ending with Friday’s close to sit 11.5 per cent lower for 2022. In terms of technical analysis, the Relative Strength Index (RSI) of 41 leaves the benchmark in the lower end of neutral territory, closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.
There are 26 index constituents trading in the attractive technical range below the RSI buy signal of 30. The five most oversold stocks are TransAlta Renewables Inc., Brookfield Renewable Partners LP, Cogeco Communications Inc., Innergex Renewable Energy Inc. and Blackberry Ltd.
Oversold stocks on the TSX
| | NAME | RSI 14D | PX LAST | MOV_AVG_200D | LAST_CLOSE_TRR_1WK |
| RNW-T | TRANSALTA RENEWABLES INC | 16.41 | 12.85 | 17.25 | -5.84 |
| BEP-UN-T | BROOKFIELD RENEWABLE PARTNER | 17.19 | 38.83 | 46.22 | -7.50 |
| CCA-T | COGECO COMMUNICATIONS INC | 20.12 | 65.07 | 93.79 | -3.40 |
| INE-T | INNERGEX RENEWABLE ENERGY | 20.57 | 14.57 | 18.28 | -9.19 |
| BB-T | BLACKBERRY LTD | 21.81 | 5.77 | 8.25 | -11.92 |
| AQN-T | ALGONQUIN POWER & UTILITIES | 23.56 | 14.50 | 17.99 | -3.39 |
| BIP-UN-T | BROOKFIELD INFRASTRUCTURE PA | 24.28 | 46.07 | 51.74 | -3.86 |
| CPX-T | CAPITAL POWER CORP | 24.49 | 42.48 | 44.19 | -5.46 |
| CU-T | CANADIAN UTILITIES LTD-A | 24.52 | 34.14 | 38.19 | -2.71 |
| CSH-UN-T | CHARTWELL RETIREMENT RESIDEN | 24.97 | 8.67 | 11.58 | -2.16 |
| H-T | HYDRO ONE LTD | 25.59 | 31.33 | 34.00 | -4.61 |
| WTE-T | WESTSHORE TERMINALS INVESTME | 26.36 | 24.70 | 30.66 | -3.39 |
| BLX-T | BORALEX INC -A | 26.36 | 38.83 | 40.39 | -5.45 |
| TA-T | TRANSALTA CORP | 26.85 | 11.11 | 13.42 | -5.07 |
| QBR-B-T | QUEBECOR INC -CL B | 26.95 | 24.00 | 28.71 | -2.73 |
| CCO-T | CAMECO CORP | 27.10 | 30.35 | 31.86 | -19.50 |
| ACO-X-T | ATCO LTD -CLASS I | 27.23 | 40.62 | 44.23 | -2.21 |
| ECN-T | ECN CAPITAL CORP | 28.12 | 4.14 | 5.79 | -5.56 |
| MRE-T | MARTINREA INTERNATIONAL INC | 28.42 | 8.38 | 9.43 | -4.84 |
| ZZZ-T | SLEEP COUNTRY CANADA HOLDING | 28.75 | 22.65 | 28.51 | -0.67 |
| NPI-T | NORTHLAND POWER INC | 28.83 | 38.10 | 39.97 | -2.41 |
| WCN-T | WASTE CONNECTIONS INC | 29.05 | 174.63 | 169.27 | -3.17 |
| NWH-UN-T | NORTHWEST HEALTHCARE PROPERT | 29.20 | 10.31 | 12.92 | 0.00 |
| BAM-A-T | BROOKFIELD ASSET MANAGE-CL A | 29.33 | 53.54 | 65.09 | -5.24 |
| EMA-T | EMERA INC | 29.46 | 53.23 | 60.81 | -2.24 |
| CJR-B-T | CORUS ENTERTAINMENT INC-B SH | 29.58 | 2.30 | 4.16 | -2.17 |
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Source: Bloomberg