TSX Composite Index on the Rise!

In a dazzling display of market resilience, the S&P/TSX Composite index soared by 1.4% over the past week, marking a striking 3.5% uptick for 2025 so far. With a Relative Strength Index (RSI) at 63, the benchmark is perched perilously close to overbought territory, where concerns of a potential sell-off could loom.

No Oversold Stocks – But Watch Out!

This week, the TSX is devoid of oversold stocks, typically indicated by RSIs under 30. However, Westshore Terminals Investment Corp. and Bausch Health Companies Inc. are teetering on the edge, showing signs they might soon dip into this territory.

Spotlight on Overbought Stocks!

A noteworthy 19 stocks are currently classified as overbought and technically vulnerable. Leading this pack are well-known entities like Transcontinental Inc., Air Canada, Linamar Corp., Oceangold Corp., and Algonquin Power and Utilities Ltd. Investors should tread carefully as these companies could be due for a market correction.

Stocks Hitting New Highs – The Market Movers!

On a brighter note, 19 constituents of the index are basking in the glow of new 52-week highs, showcasing outstanding price momentum. Notable players breaking barriers include Thomson Reuters Corp., Wheaton Precious Metals Corp., Lundin Gold Inc., TMX Group Ltd., and Stantec Inc. These firms are not just thriving; they are shaping the market landscape and attracting investor interest.