Each week, Stockhead provides a summary of outliers on the Relative Strength Index (RSI) — a technical gauge which measures how trading momentum is affecting the price action.

A reading of 70 is seen as the level at which a company may have been overbought. If a stock has a reading of 30 or below, it could be undervalued.

Click here for the first edition of Hot Money, which includes a more detailed description of what the RSI does and how it’s used.

 

Running hot

Running hot with an RSI reading above 90 this week was power generation developer Pacific Energy (ASX:PEA).

Its move to the top of the Hot Money table was with good reason, after the company became the subject of a bidding war between the Queensland Investment Corporation (QIC) and a consortium led by Canadian pension fund OPTrust.

To start the week, Pacific Energy announced it had entered into a scheme of arrangement with the consortium for an offer priced at $1.085 per share.

The deal trumped QIC’s initial bid of 97.5c, but on Friday the war turned nasty.

QIC ended the week by lodging a complaint with the Takeovers Panel — arguing the deal was in breach of the original scheme of implementation deed because it was denied an opportunity to match the bid.

Carbon fibre component manufacturer Quickstep (ASX:QHL) has also been running hot over the past two weeks after the company released its annual results on August 26.

The stock is up more than 30 per cent since announcing a maiden full-year profit of $2.7m with annual sales growth of 24 per cent.

And after as steep fall from grace, SaaS logistics platform Getswift (ASX:GSW) has made an interesting appearance near the top of the hot money list.

The company — which provides a route-optimisation service to delivery drivers — slumped sharply last year after disclosure problems with respect to revenue-generating clients.

Along with a loss of face, the announcement resulted in class-action lawsuits.

But that hasn’t phased a number of US investors taking a recent interest in the business model, which has helped drive the price from a June low of 15c to Friday’s close at 58c.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, September 13:

Code Name 14 Day RSI Price (2pm Friday) Market Cap
PEA PACIFIC ENERGY LTD 91.12 1.11 475.25M
QHL QUICKSTEP HOLDINGS LTD 88.55 0.13 88.79M
GSW GETSWIFT LTD 87.49 0.53 89.55M
VVA VIVA LEISURE LTD 84.64 2.04 99.41M
EVS ENVIROSUITE LTD 84.48 0.28 110.66M
EGG ENERO GROUP LTD 83.87 2.25 192.61M
WEL WINCHESTER ENERGY LTD 81.36 0.08 42.52M
LMG LATROBE MAGNESIUM LTD 81.25 0.02 20.74M
OPC OPTICOMM LTD 80.85 3.12 326.80M
MAG MAGMATIC RESOURCES LTD 80.76 0.05 4.46M
BBN BABY BUNTING GROUP LTD 80.1 3.39 424.84M
AGS ALLIANCE RESOURCES LTD 78.96 0.14 21.57M
SIT SITE GROUP INTERNATIONAL LTD 78.79 0.07 56.45M
MYQ MYFIZIQ LTD 77.38 0.3 27.63M
WAT WATERCO LTD 76.91 2.05 75.07M
EAR ECHO RESOURCES LTD 76.88 0.33 229.96M
BSA BSA LTD 76.54 0.44 190.97M
CCA CHANGE FINANCIAL LTD 76.28 0.12 12.85M
MEI METEORIC RESOURCES NL 76.23 0.06 57.11M
WLD WELLARD LTD 76.04 0.05 28.16M
SXE SOUTHERN CROSS ELECTRICAL 75.68 0.6 140.83M
NSC NAOS SMALL CAP OPPORTUNITIES 75.35 0.68 103.09M
TML TIMAH RESOURCES LTD 75.1 0.07 6.00M
TAO TAO COMMODITIES LTD 74.7 0.13 3.87M
MPW MSL SOLUTIONS LTD 74.43 0.11 27.48M
8IH 8I HOLDINGS LTD-CDI 74.18 0.09 23.56M
SEI SPECIALITY METALS INTERNATIO 74.17 0.05 49.14M
RUL RPMGLOBAL HOLDINGS LTD 74.02 0.77 167.69M
CLZ CLASSIC MINERALS LTD 73.9 0 14.69M
AGJ AGRICULTURAL LAND TRUST 73.65 0.06 5.85M
WLL WELLCOM GROUP LTD 73.5 6.87 269.51M
SAU SOUTHERN GOLD LTD 73.14 0.22 18.77M
GCM GARDA CAPITAL GROUP 73.11 2.21 59.07M
BWX BWX LTD 72.96 3.64 444.81M
MZN MARINDI METALS LTD 72.83 0.15 9.59M
PVL POWERHOUSE VENTURES LTD 72.72 0.1 3.20M
AKG ACADEMIES AUSTRALASIA GROUP 72.44 0.58 74.02M
ATU ATRUM COAL LTD 72.38 0.4 180.64M
TBR TRIBUNE RESOURCES LTD 72.26 8.88 471.78M
MOH MOHO RESOURCES NL 72.26 0.09 3.61M
KYK KYCKR LTD 72.09 0.1 19.25M
DTL DATA#3 LTD 71.35 2.95 455.77M
CSV CSG LTD 71.21 0.22 98.84M
ATC ALTECH CHEMICAL LTD 71.16 0.12 85.46M
PCK PAINCHEK LTD 71.01 0.29 265.40M
TNY TINYBEANS GROUP PTY LTD 70.54 1.39 54.02M
PCG PENGANA CAPITAL GROUP LTD 70.5 1.74 179.70M
RMC RESIMAC GROUP LTD 70.47 0.91 369.27M
MNF MNF GROUP LTD 70.43 4.91 364.56M
IPD IMPEDIMED LTD 70.28 0.19 98.92M
PTL PENTAL LTD 70.18 0.35 48.37M

 

Running cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, September 13:

Code Name 14 Day RSI Price (2:00pm Friday) Market Cap
HLA HEALTHIA LTD 29.78 0.87 54.84M
PGM PLATINA RESOURCES LTD 29.69 0.03 7.92M
MLL MALI LITHIUM LTD 29.61 0.08 21.95M
N1H N1 HOLDINGS LTD 28.97 0.05 3.67M
AQC AUSTRALIAN PACIFIC COAL LTD 28.93 0.23 11.11M
TGO TRIMANTIUM GROWTHOPS LTD 28.82 0.3 41.69M
KIN KIN MINING NL 28.62 0.04 19.33M
LPE LOCALITY PLANNING ENERGY HOLDINGS 28.3 0.67 33.39M
DNA DONACO INTL LTD 28.12 0.06 49.42M
CSE COPPER STRIKE LTD 27.42 0.04 4.49M
PRT PRIME MEDIA GROUP LTD 26.82 0.17 60.44M
IGE INTEGRATED GREEN ENERGY SOLUTIONS 26.75 0.11 41.36M
BIQ BUILDINGIQ INC 26.67 0.03 10.18M
SIL SMILES INCLUSIVE LTD 26.04 0.04 4.26M
CMP COMPUMEDICS LTD 25.93 0.54 102.75M
BMG BMG RESOURCES LTD 25.85 0.01 6.90M
WHK WHITEHAWK LTD 25.5 0.07 11.37M
MCM MC MINING LTD 25.28 0.51 72.55M
ARC AUSTRALIAN RURAL CAPITAL LTD 25.12 0.33 4.13M
GO2 GO2 PEOPLE LTD 24.19 0.04 4.13M
SF1 STEMIFY LTD 23.83 0.03 3.80M
SVS SUNVEST CORPORATION LIMITED 23.43 0.19 3.04M
IGN IGNITE LTD 23.3 0.04 3.14M
LHB LIONHUB GROUP LTD 23.1 0.005 4.13M
BEL BENTLEY CAPITAL LTD 22.49 0.06 6.47M
AYS AMAYSIM AUSTRALIA LTD 21.5 0.38 115.09M
CRO CIRRALTO LTD 20.58 0.01 5.28M
RMT RMA ENERGY LTD 20.0 0.001 2.10M
8VI 8VIC HOLDINGS LTD 18.08 0.2 8.11M
GMV G MEDICAL INNOVATION HOLDINGS 17.9 0.08 32.70M
EMB EMBELTON LTD 17.75 9.81 21.17M
MHI MERCHANT HOUSE INTL LTD 17.64 0.07 6.22M
8EC 8IP EMERGING COS LTD 6.0 0.08 29.33M