Each Monday, Stockhead recaps which stocks are heavily demanded by investors — or running hot.

Stockhead uses 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.

Our first edition of Hot Money includes a more detailed description of what the RSI does and how it’s used.

Here is this week’s list:

Running hot

The Hot Money list cooled off slightly over the past couple of weeks. Typically, at least one company registers an RSI reading of above 90, but the top-rated stock posted a reading of only 81.46.

Topping the list was Opticomm Ltd (ASX: OPC), which climbed steadily throughout September after joining the ASX boards on August 21. At Friday’s close of $3.75, the stock has now almost doubled from its $2 listing price.

OPC’s early success highlights the recent trend of investor demand for companies that offer viable broadband solutions to compete against the NBN.

Opticomm provides fibre infrastructure predominantly for new residential developments, and has installed fibre connections for more than 100,000 new blocks of land. Its debut follows the successful listing of broadband provider Uniti Wireless (ASX: UWL) in March this year.

Elsewhere, Stavely Minerals (ASX: SVY) cooled off slightly from last week’s RSI reading of 94.16, but the stock remains near the top of the hot money list after its bigger copper discovery at the Gossen prospect in Victoria.

And biotech Actinogen Medical (ASX:ACW) joined the list, after surging mid-week following news that trials of its Xanamem treatment for Alzheimer’s showed signs of cognitive improvement at doses of 20mg. The stock slumped in May after 10mg trials were shown to be ineffective.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, October 4:

Code Name 14-Day RSI Price ($) Market Cap
OPC OPTICOMM LTD 81.46 3.60 370.51M
FRM FARM PRIDE FOODS LTD 80.06 0.34 19.31M
AGS ALLIANCE RESOURCES LTD 78.96 0.14 21.57M
SVY STAVELY MINERALS LTD 78.51 1.00 182.34M
AGJ AGRICULTURAL LAND TRUST 78.21 0.06 6.34M
ACW ACTINOGEN MEDICAL LTD 77.44 0.05 52.60M
8IH 8I HOLDINGS LTD 77.08 0.09 23.56M
EUC EUROPEAN COBALT LTD 75.48 0.03 25.14M
BD1 BARD1 LIFE SCIENCES LTD 75.38 0.05 65.62M
GCM GARDA CAPITAL GROUP 74.95 2.25 60.14M
TML TIMAH RESOURCES LTD 74.86 0.07 6.62M
AZM AZUMAH RESOURCES LTD 74.67 0.03 28.38M
CLV CLOVER CORP LTD 74.5 3.04 498.93M
BBN BABY BUNTING GROUP LTD 74.36 3.66 460.25M
RAP RESAPP HEALTH LTD 74 0.29 187.99M
VOL VICTORY OFFICES LTD 73.92 2.50 102.25M
EVS ENVIROSUITE LTD 73.67 0.34 132.56M
GID GI DYNAMICS INC-CDI 73.28 0.05 70.29M
VVA VIVA LEISURE LTD 73.19 2.15 113.09M
4DS 4DS MEMORY LTD 72.99 0.08 89.73M
BNO BIONOMICS LTD 72.85 0.12 59.92M
IDT IDT AUSTRALIA LTD 72.46 0.17 41.47M
CCG COMMSCHOICE GROUP LTD 72.2 0.07 12.37M
IOD IODM LTD 71.98 0.16 76.84M
DXN DXN LTD 71.78 0.08 30.35M
OAU ORA GOLD LTD 71.44 0.02 14.21M
HIP HIPO RESOURCES LTD 71.28 0.01 5.41M
AKG ACADEMIES AUSTRALASIA GROUP 71.05 0.68 86.78M
DN8 DREAMSCAPE NETWORKS LTD 71.01 0.27 105.21M
FSG FIELD SOLUTIONS HOLDINGS LTD 70.88 0.03 10.75M
PEA PACIFIC ENERGY LTD 70.68 1.09 467.18M
TNR TORIAN RESOURCES LTD 70.49 0.02 5.05M
BSR BASSARI RESOURCES LTD 70.43 0.02 41.48M
SCL SCHROLE GROUP LTD 70.14 0.02 15.09M
PKO PEAKO LTD 70.09 0.03 3.23M
SFL SPRING FG LTD 70.04 0.05 7.84M

 

Running cold

Along with the usual round of struggling resources minnows, this weeks list was also populated by a handful of stocks in the lithium and cannabis sectors.

Among the battery metals plays with an RSI below 30 was Mali Lithium (ASX: MLL), which has recently pivoted to gold as it looks to develop assets next door to its flagship lithium project in Mali.

Also running cold were Lithium Power International (ASX: LPI) and Altura Mining (ASX: AJM), with readings of 29.02 and 28.85 respectively.

Two cannabis stocks also popped up on this week’s list — Althea Group Holdings (ASX:AGH) and Cann Group (ASX: CAN).

Medicinal pot stock Althea lost momentum in September, although the stock jumped on Friday after announcing monthly patient prescriptions had jumped to a record high.

And Cann Group has also struggled for traction since it announced in late-August that it was in the process of securing debt funding for a large-scale expansion at its Mildura manufacturing facility.

Here’s a summary of the stocks that were running cold for the two weeks ending Friday, October 4:

Code Name 14 Day RSI Price ($) Market Cap
HLA HEALTHIA LTD 29.98 0.85 53.58M
MLL MALI LITHIUM LTD 29.75 0.08 20.17M
AJQ ARMOUR ENERGY LTD 29.75 0.05 28.29M
GLL GALILEE ENERGY LTD 29.6 0.89 203.26M
WRM WHITE ROCK MINERALS LTD 29.59 0.01 9.82M
HFR HIGHFIELD RESOURCES LTD 29.44 0.66 217.49M
CML CHASE MINING CORPORATION LTD 29.05 0.02 4.14M
LPI LITHIUM POWER INTERNATIONAL 29.02 0.3 78.75M
REF REVERSE CORP LTD 28.94 0.01 742.88k
AJM ALTURA MINING LTD 28.85 0.07 148.83M
OKJ OAKAJEE CORP 28.58 0.04 3.66M
AYS AMAYSIM AUSTRALIA LTD 28.45 0.34 98.86M
JRL JINDALEE RESOURCES LTD 28.43 0.22 8.47M
AGH ALTHEA GROUP HOLDINGS LTD 28.43 0.66 144.52M
HXG HEXAGON RESOURCES LTD 28.42 0.06 17.22M
CAN CANN GROUP LTD 28.36 1.46 211.29M
CSE COPPER STRIKE LTD 28.13 0.04 4.27M
SF1 STEMIFY LTD 27.9 0.03 4.26M
TIG TIGERS REALM COAL LTD 27.87 0.03 55.54M
TZN TERRAMIN AUSTRALIA LTD 27.61 0.05 93.48M
FML FOCUS MINERALS LTD 27.25 0.26 47.51M
VR8 VANADIUM RESOURCES LTD 27.22 0.04 15.14M
LRS LATIN RESOURCES LTD 26.74 0.02 2.80M
AVZ AVZ MINERALS LTD 26.72 0.04 99.08M
CAQ CAQ HOLDINGS LTD 25.74 0.01 6.46M
LSH LIFESPOT HEALTH LTD 25.49 0.05 3.72M
MCM MC MINING LTD 25.28 0.51 72.55M
BMG BMG RESOURCES LTD 24.94 0.003 2.88M
WEC WHITE ENERGY CO LTD 22.89 0.09 49.05M
TGO TRIMANTIUM GROWTHOPS LTD 20.95 0.19 26.40M
GO2 GO2 PEOPLE LTD 19.82 0.02 2.71M
LHB LIONHUB GROUP LTD 18.41 0.001 2.48M
BEL BENTLEY CAPITAL LTD 18.29 0.05 6.47M
IGN IGNITE LTD 18.04 0.03 2.42M
MHI MERCHANT HOUSE INTL LTD 17 0.06 6.13M
AQC AUSTRALIAN PACIFIC COAL LTD 8.75 0.1 5.05M
8EC 8IP EMERGING COS LTD 6.29 0.08 29.33M