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TSX Market Analysis: Identifying Overbought and Oversold Stocks for the Week
Finance · Investment Banks/Brokers · globe_inside_market · 2026-11-02
TXCX, AP, TLRY, TFII, WEED, LIF, TOU, X, PD, AAV, BIR, CNQ, GEI, CEU, NWC, T, BEI, HR
A technical review of the S&P/TSX Composite reveals key stocks hitting extreme RSI levels, alongside companies reaching new 52-week highs and lows.
What Happened
Market Technical Overview: The S&P/TSX Composite Index concluded the week with a 0.4 per cent decline, maintaining a 14.4 per cent gain for 2026. With a Relative Strength Index (RSI) of 46, the benchmark remains positioned between the traditional oversold threshold of 30 and the overbought signal of 70.
Oversold Opportunities: Thirteen constituents currently display RSI levels below 30, signaling potential oversold conditions. Notable companies in this category include Allied Properties REIT, Tilray Brands Inc., TFI International Inc., Canopy Growth Corp., and Labrador Iron Ore Royalty Co.
Overbought Vulnerabilities: Eleven stocks are currently identified as overbought and potentially vulnerable to a pullback. This group is led by Tourmaline Oil Corp., TMX Group Ltd., Precision Drilling Corp., Advantage Energy Ltd., and Birchcliff Energy Ltd.
Momentum and Extremes: Four companies, including Canadian Natural Resources and Gibson Energy Inc., achieved new 52-week highs, demonstrating strong price momentum. Conversely, stocks such as Telus Corp. and Boardwalk REIT hit new 52-week lows during the recent trading period.