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.

 

Running Hot

Stocks were treading water amid the volatility last week, but the Running Hot list (Bear Market Edition) remains particularly short by historical standards.

The local index posted three straight days of gains as markets assessed the impact of huge government stimulus measures, particularly in the US.

Both of those increases were book-ended by two sharp falls, as the ASX tanked hard into the close on Friday afternoon after starting the day in positive territory.

Amid all of that, we picked up a total of nine stocks with a two-week RSI measure above 60 (instead of the usual 70) — down from 11 last week.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, March 27:

Scroll or swipe to reveal table. Click headings to sort.

Code Name Price 2 Week RSI Market Cap ($)
CTE CRYOSITE LTD 0.07 74.8 3.37M
CHN CHALICE GOLD MINES LTD 0.5 71.45 137.03M
LSH LIFESPOT HEALTH LTD 0.06 71.07 5.44M
MMM MARLEY SPOON AG-CDI 0.57 68.44 90.36M
CRM CARBON MINERALS LTD 0.25 67.82 4.79M
MNF MNF GROUP LTD 4.69 66.63 395.12M
KAS KASBAH RESOURCES LTD 0.02 64.22 2.71M
HMD HERAMED LTD 0.14 63.48 15.04M
PCL PANCONTINENTAL OIL & GAS NL 0 61.15 10.81M

Running Cold

The government-stimulus rally helped bring this week’s Running Cold list out of the doldrums (well, at least slightly).

Lastly, we only included stocks with an RSI below 15 — a move required to get the number of companies on the list below 100 (there were 99).

This week we included companies with an RSI below 20 (still below the standard measure of 30). A total of 62 companies remained ice cold, as investors brace for more volatility in the weeks ahead.

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, March 27:

Scroll or swipe to reveal table. Click headings to sort.

Code Name Price ($) 2 Week RSI Market Cap
APH AUSTRALIAN PRIMARY HEMP LTD 0.05 19.96 3.55M
PSQ PACIFIC SMILES GROUP LTD 0.79 19.75 120.07M
CD1 CORDISH DIXON PRIVATE EQUITY 0.9 19.73 35.11M
MTO MOTORCYCLE HOLDINGS LTD 0.63 19.72 39.18M
AGI AINSWORTH GAME TECHNOLOGY 0.37 19.64 122.93M
HRR HERON RESOURCES LTD 0.02 19.31 8.57M
VR8 VANADIUM RESOURCES LTD 0.01 19.15 3.37M
A2B A2B AUSTRALIA LTD 0.66 19.13 79.48M
TGA THORN GROUP LTD 0.05 18.86 14.83M
TBL TAMBLA LTD 0.12 18.83 2.38M
A1M AIC MINES LTD 0.23 18.77 11.96M
IMR IMRICOR MEDICAL SYSTEMS-CDI 0.79 18.63 82.77M
BLY BOART LONGYEAR LTD 0.49 18.48 42.56M
ALG ARDENT LEISURE GROUP LTD 0.15 18.43 71.96M
E2E EON NRG LTD 0 18.3 769.89k
PPE PEOPLE INFRASTRUCTURE LTD 1.09 18.13 80.03M
IGL IVE GROUP LTD 0.42 17.99 62.25M
WAA WAM ACTIVE LTD 0.76 17.98 24.78M
RGI ROTO-GRO INTERNATIONAL LTD 0.04 17.97 6.41M
MXR MAXIMUS RESOURCES LTD 0.03 17.97 1.09M
ELO ELMO SOFTWARE LTD 4.07 17.78 306.18M
CPT CIPHERPOINT LTD 0.02 17.69 824.89k
BYI BEYOND INTERNATIONAL LTD 0.5 17.64 30.67M
CG1 CARBONXT GROUP LTD 0.15 17.63 16.05M
MYR MYER HOLDINGS LTD 0.1 17.57 86.23M
PCG PENGANA CAPITAL GROUP LTD 0.82 17.42 84.56M
SGI STEALTH GLOBAL HOLDINGS LTD 0.05 17.1 4.75M
DAF DISCOVERY AFRICA LTD 0.01 16.92 1.09M
OZG OZGROWTH LTD 0.11 16.64 39.10M
JAY JAYRIDE GROUP LTD 0.07 16.58 7.08M
RDH REDHILL EDUCATION LTD 0.8 16.54 24.65M
SHO SPORTSHERO LTD 0.01 16.52 1.97M
REX REGIONAL EXPRESS HOLDINGS 0.4 16.5 44.06M
SFM SANTA FE MINERALS LTD 0.05 16.5 3.71M
IXU IXUP LTD 0.03 16.47 6.68M
CVC CVC LTD 1.07 16.12 124.99M
CRO CIRRALTO LTD 0 16.04 1.65M
KNO KNOSYS LTD 0.03 15.77 4.02M
ERF ELANOR RETAIL PROPERTY FUND 0.83 15.74 106.85M
DTM DART MINING NL 0.04 15.57 2.24M
JXT JAXSTA LTD 0.02 15.12 4.70M
NCK NICK SCALI LTD 3.25 15.1 263.25M
PFP PROPEL FUNERAL PARTNERS LTD 2.2 14.14 217.22M
HLO HELLOWORLD TRAVEL LTD 0.93 14.03 115.99M
EUR EUROPEAN LITHIUM LTD 0.04 13.96 22.22M
PGL PROSPA GROUP LTD 0.5 13.86 80.68M
MOZ MOSAIC BRANDS LTD 0.26 13.74 25.17M
ASG AUTOSPORTS GROUP LTD 0.67 13.37 133.67M
DGH DESANE GROUP HOLDINGS LTD 1.1 12.98 45.00M
SPQ SUPERIOR RESOURCES LTD 0 12.32 1.49M
MVF MONASH IVF GROUP LTD 0.42 12.2 99.03M
SXL SOUTHERN CROSS MEDIA GROUP 0.17 12.15 126.89M
LME LIMEADE INC-CDI 1.4 11.81 342.72M
SST STEAMSHIPS TRADING COMPANY 10 11.79 310.08M
WPP WPP AUNZ LTD 0.27 10.86 230.08M
VRT VIRTUS HEALTH LTD 1.78 10.82 143.49M
SOM SOMNOMED LTD 1.25 10.64 107.83M
PNC PIONEER CREDIT LTD 0.37 10.32 23.46M
ENN ELANOR INVESTOR GROUP 0.79 10.18 92.81M
KAT KATANA CAPITAL LTD 0.57 10.05 24.32M
KSM K2 AUS SMALL CAP FUND 1.35 9.51 9.36M
OML OOH!MEDIA LTD 0.68 8.15 166.03M

Media & advertising company oOh!media (ASX:OML) propped up the list with a reading of just 8.15.

However, amid the market chaos oOh!media still managed to complete a $156m share placement to institutional investors, with plans to pay down debt and refocus on costs.

Shares in the company came out of a trading halt on Friday and fell by around 30 per cent to 60.5c, down from a 2020 high above $3 in mid-January.