Business
The most oversold and overbought stocks on the TSX
|
|
/cloudfront-us-east-1.images.arcpublishing.com/tgam/ITQVD5DCJNHJVAVBUGHDEGBOW4.JPG)
The S&P/TSX Composite fell 2.8 per cent for the trading week ending with Friday’s close and is now only 4.4 per cent higher for 2023. The index’s Relative Strength Index (RSI) is now in the lower end of the technically neutral range at 37, closer to the oversold buy signal of 30 than the overbought RSI sell signal of 70.
There are 21 technically attractive benchmark constituents trading below the buy signal this week. The five most oversold companies in the index are Storagevault Canada Inc., Canadian Tire Corp., Torex Gold Resources Inc., Sun Life Financial Inc. and Bank of Montreal. Royal Bank of Canada, Canadian Imperial Bank of Commerce and Rogers Communications Inc. are also on the list.
There are only three overbought, technically vulnerable names this week – Suncor Energy Inc., Imperial Oil Ltd. and Chartwell Retirement Residences.
There are also three S&P/TSX Composite stocks showing strong price momentum by hitting new 52-week highs and they are sorted by market capitalization in the table below. Canadian Natural Resources Ltd. is the largest company hitting a new high, followed by WSP Global Inc. and Cameco Corp.
There are six companies making new 52-week lows – Bank of Nova Scotia, CIBC, Telus Corp., Lithium Americas Corp. , Brookfield Business Partners LP Units.
We use cookies and data to
- Deliver and maintain Google services
- Track outages and protect against spam, fraud, and abuse
- Measure audience engagement and site statistics to understand how our services are used and enhance the quality of those services
If you choose to “Accept all,” we will also use cookies and data to
- Develop and improve new services
- Deliver and measure the effectiveness of ads
- Show personalized content, depending on your settings
- Show personalized ads, depending on your settings
If you choose to “Reject all,” we will not use cookies for these additional purposes.
Non-personalized content is influenced by things like the content you’re currently viewing, activity in your active Search session, and your location. Non-personalized ads are influenced by the content you’re currently viewing and your general location. Personalized content and ads can also include more relevant results, recommendations, and tailored ads based on past activity from this browser, like previous Google searches. We also use cookies and data to tailor the experience to be age-appropriate, if relevant.
Select “More options” to see additional information, including details about managing your privacy settings. You can also visit g.co/privacytools at any time.
We use cookies and data to
- Deliver and maintain Google services
- Track outages and protect against spam, fraud, and abuse
- Measure audience engagement and site statistics to understand how our services are used and enhance the quality of those services
If you choose to “Accept all,” we will also use cookies and data to
- Develop and improve new services
- Deliver and measure the effectiveness of ads
- Show personalized content, depending on your settings
- Show personalized ads, depending on your settings
If you choose to “Reject all,” we will not use cookies for these additional purposes.
Non-personalized content is influenced by things like the content you’re currently viewing, activity in your active Search session, and your location. Non-personalized ads are influenced by the content you’re currently viewing and your general location. Personalized content and ads can also include more relevant results, recommendations, and tailored ads based on past activity from this browser, like previous Google searches. We also use cookies and data to tailor the experience to be age-appropriate, if relevant.
Select “More options” to see additional information, including details about managing your privacy settings. You can also visit g.co/privacytools at any time.
|
|
The federal government is unfurling a voluntary code of conduct for generative AI as anxiety persists over its proliferation and pace of development.
Innovation Minister Francois-Philippe Champagne announced the code on Wednesday at the All In artificial intelligence conference in Montreal, where Canadian technology companies including OpenText and Cohere pledged to sign on.
The document lays out measures organizations can take when working in generative AI — the algorithmic engine behind chatbots such as ChatGPT, which can spit out anything from term papers to psychotherapy.
The government says the measures align with six key principles that include equity, transparency and human oversight.
Amid both excitement and angst over the seemingly boundless scale of AI advancement, the federal government in June tabled a bill outlining a general approach to AI guardrails and leaves details to a later date, saying it will come into force no sooner than 2025.
Artificial intelligence pioneer Yoshua Bengio, who has stated the legislation puts Canada on the right path even as progress remains too slow, says public fear still hangs over the sector and that more investment toward safety and standards is essential.
Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our daily newsletter, Posted, here.
Metrolinx Eglinton Crosstown opening date delayed – CTV News Toronto
Canada's population added 1.15 million people since last year: StatsCan – CBC News
'ET Canada' cancelled by Corus Entertainment, blames 'challenging' advertising market – CTV News
-
Media23 hours ago
Black Americans express concerns about racist depictions in news media, lack of coverage efforts – The Associated Press
-
Economy23 hours ago
High inflation remains the 'bigger risk' to the U.S. economy, Fed's Austan Goolsbee says – The Globe and Mail
-
Media12 hours ago
Gen. Milley says he has "appropriate" safety measures after Trump social media threat
-
Art12 hours ago
U of G opens a new space for the arts community to use
-
Art11 hours ago
Gérard Depardieu’s Art Collection Sells for $4.2 Million at Paris Auction
-
Art24 hours ago
San Francisco’s Asian Art Museum Says It Will Sue Architecture Firm of Its ‘Inadequate’ Expansion – ARTnews
-
News22 hours ago
After briefing on intel, Singh says 'clear evidence' India involved in B.C. killing – CTV News
-
News11 hours ago
Justin Trudeau apologises after Nazi veteran honoured in parliament