Each Monday, Stockhead recaps which stocks are most heavily in demand by investors — running hot.
The analysis is based 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 a more detailed rundown of what the RSI does and how it’s used. While there’s usually a pretty good reason if a given stock is running hot (or cold), investors are also on the lookout for opportunities where the price-action has separated from fundamentals.
Here’s this week’s list:
Running Hot
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, February 21:
There were a total of 47 stocks with a 14-day RSI reading above 70, up from 45 in the week prior. Of those 47, 28 companies were new entrants (stocks highlighted in yellow).
Scroll or swipe to reveal table. Click headings to sort.
Code Name Price 2 Week RSI Market Cap ($) FHS FREEHILL MINING LTD 0.04 88.99 52.98M EAS EASTON INVESTMENTS LTD 1.15 85.65 39.75M AGD AUSTRAL GOLD LTD 0.16 84.91 89.50M CRM CARBON MINERALS LTD 0.3 83.53 5.64M LTR LIONTOWN RESOURCES LTD 0.14 82.72 245.63M NVL NATIONAL VETERINARY CARE LTD 3.68 82.57 247.48M NCL NETCCENTRIC LTD 0.03 82.35 7.61M CWL CHANT WEST HOLDINGS LTD 0.1 81.8 12.39M MTC METALSTECH LTD 0.08 80.88 8.89M KPO KALINA POWER LTD 0.05 80.43 40.14M CAJ CAPITOL HEALTH LTD 0.29 80.04 226.68M SBW SHEKEL BRAINWEIGH LTD 0.18 79.98 25.02M SFC SCHAFFER CORP LTD 17.3 79.76 236.55M FRI FINBAR GROUP LTD 0.98 79.59 266.68M ZGL ZICOM GROUP LTD 0.12 79.59 26.06M KIN KIN MINING NL 0.06 78.29 37.12M HIT HITECH GROUP AUSTRALIA LTD 1.67 78.27 63.54M STN SATURN METALS LTD 0.56 77.9 40.62M AQI ALICANTO MINERALS LTD 0.09 77.75 18.70M OVN OVENTUS MEDICAL LTD 0.67 77.7 87.45M RMY RMA GLOBAL LTD 0.65 77.62 271.70M ABA AUSWIDE BANK LTD 6.62 77.07 279.25M GUL GULLEWA LTD 0.04 75.76 6.20M AEI AERIS ENVIRONMENTAL LTD 0.6 75.59 127.24M SOM SOMNOMED LTD 3.44 75.15 216.05M PSQ PACIFIC SMILES GROUP LTD 2.05 75.08 311.59M NOR NORWOOD SYSTEMS LTD 0.06 75.06 14.85M SM8 SMART MARINE SYSTEMS LTD 0.1 75.04 33.51M DGO DGO GOLD LTD 1.79 75.02 63.00M LSA LACHLAN STAR LTD 0.01 74.84 7.54M SDI SDI LTD 1.00 73.6 118.87M COS COSOL LTD 0.34 73.34 43.99M TAM TANAMI GOLD NL 0.05 73.07 61.11M SPX SPECTRUM METALS LTD 0.14 72.58 196.77M VMC VENUS METALS CORP LTD 0.23 72.55 34.75M FFI F.F.I. HOLDINGS LTD 5.2 72.11 55.95M DXB DIMERIX LTD 0.17 71.91 30.86M WQG WCM GLOBAL GROWTH LTD 1.31 71.36 227.95M EHH EAGLE HEALTH HOLDINGS LTD 0.16 71.33 54.42M RDF REDFLEX HOLDINGS LTD 0.65 71.05 98.18M QMS QMS MEDIA LTD 1.24 70.96 432.22M BYE BYRON ENERGY LTD 0.35 70.77 283.82M AUT AUTECO MINERALS LTD 0.03 70.5 34.58M ZNO ZOONO GROUP LTD 1.82 70.16 297.23M AVZ AVZ MINERALS LTD 0.09 70.09 202.94M VUL VULCAN ENERGY RESOURCES LTD 0.25 70.05 12.37M CAI CALIDUS RESOURCES LTD 0.3 70 64.41M
There was a new leader this week, as Freehill Mining (ASX:FHS) took top spot after rising sharply on the back of a drilling update at its fully-owned Yerbas Buenas magnetite project in Chile.
Running Cold
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, February 21:
There were a total of 52 stocks with a 14-day RSI reading below, down from 70 in the week prior. And of those 52, 28 companies were new entrants (stocks highlighted in yellow).
Scroll or swipe to reveal table. Click headings to sort.
Code Name Price ($) 2 Week RSI Market Cap CPH CRESO PHARMA LTD 0.11 29.95 22.86M AJX ALEXIUM INTERNATIONAL GROUP 0.06 29.9 35.53M PAB PATRYS LTD 0.02 29.89 17.16M AU8 AUMAKE INTERNATIONAL LTD 0.08 29.82 25.60M DTM DART MINING NL 0.07 29.74 3.89M SIS SIMBLE SOLUTIONS LTD 0.01 29.48 2.03M CLT CELLNET GROUP LTD 0.13 29.29 8.14M IXU IXUP LTD 0.05 29.22 11.35M TRT TODD RIVER RESOURCES LTD 0.02 29.16 4.44M RLE REAL ENERGY CORP LTD 0.02 29.05 6.71M SPT SPLITIT PAYMENTS LTD 0.49 28.91 152.65M FE8 FASTER ENTERPRISES LTD 0.01 28.82 887.08k AMS ATOMOS LTD 1.11 28.82 206.31M STG STRAKER TRANSLATIONS LTD 1.12 28.81 59.47M KTD KEYTONE DAIRY CORP LTD 0.33 28.63 70.99M MXC MGC PHARMACEUTICALS LTD 0.03 28.58 37.02M GTR GTI RESOURCES LTD 0.01 28.57 2.79M CL1 CLASS LTD 1.78 28.49 219.12M GED GOLDEN DEEPS LTD 0.02 28.41 5.05M AMT ALLEGRA ORTHOPAEDICS LTD 0.11 28.35 10.95M BYI BEYOND INTERNATIONAL LTD 0.68 27.91 41.71M WGN WAGNERS HOLDING CO LTD 1.82 27.84 340.70M CD2 CORDISH DIXON PRIVATE EQUITY 1.56 27.72 86.10M CPT CIPHERPOINT LTD 0.06 27.67 2.47M MMJ MMJ GROUP HOLDINGS LTD 0.1 27.08 23.56M HZN HORIZON OIL LTD 0.08 26.98 105.46M TKL TRAKA RESOURCES LTD 0.005 26.7 2.00M SRI SIPA RESOURCES LTD 0.05 26.42 7.83M ZER ZETA RESOURCES LTD 0.23 26.28 67.52M NET NETLINKZ LTD 0.07 26.28 132.69M PAK PACIFIC AMERICAN HOLDINGS LT 0.02 25.96 4.11M MYR MYER HOLDINGS LTD 0.38 25.91 312.09M SST STEAMSHIPS TRADING COMPANY 12.8 25.85 396.91M FFR FIREFLY RESOURCES LTD 0.04 24.95 3.36M 3PL 3P LEARNING LTD 0.7 24.44 97.64M SIV SIV CAPITAL LTD 0.57 24.22 22.38M SFX SHEFFIELD RESOURCES LTD 0.13 24.14 40.16M TNP TRIPLE ENERGY LTD 0.01 24.12 647.96k SFM SANTA FE MINERALS LTD 0.06 23.02 4.66M MWR MGM WIRELESS LTD 0.17 22.28 24.07M AAJ ARUMA RESOURCES LTD 0 21.94 1.42M BLY BOART LONGYEAR LTD 1.09 21.8 95.55M ARQ ARQ GROUP LTD 0.23 21.67 28.09M SWM SEVEN WEST MEDIA LTD 0.19 21.39 284.54M ODM ODIN METALS LTD 0.05 21.33 8.45M DYL DEEP YELLOW LTD 0.2 21.09 50.16M FLN FREELANCER LTD 0.41 20.75 185.63M BWF BLACKWALL LTD 0.5 20.69 31.57M OTW OVER THE WIRE HOLDINGS LTD 3.2 18.87 165.25M SE1 SENSERA LTD 0.01 17.79 2.90M CD3 CORDISH DIXON PRIVATE EQUITY 1.16 16.73 83.55M UUL ULTIMA UNITED LTD 0.02 13.23 469.21k
Falling onto the Running Cold list was department store chain Myer (ASX:MYR), which hasn’t posted an intra-day gain since February 4.
After being mired in a quagmire for years amid the the structural challenges facing Australia’s retail industry, the company faired well for most of 2019 as the market approved of new CEO John King’s turnaround strategy.
But momentum came to a halt in September, and Myer — which was listed in 2009 with a market cap of $4.2bn — is now valued at just $311m.