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

The Running Hot list continues to provide an interesting gauge around market sentiment, amid the broader volatility caused by COVID-19.

We’ve revised the RSI cutoff down to 60, and even with increased leniency the number of stocks on last week’s list only reached 11.

This week, it increased to 34, after US fiscal stimulus last week was followed up by the Morrison government’s $130bn package on Monday.

Health company Genetic Signatures (ASX:GSS) topped the list, after the company received CE Mark approval to sell its COVID-19 test kit in the UK and Europe.

Genetic Signatures said its testing kit could be used as a complement to its existing diagnostic systems, allowing for “rapid detection of up to 188 patient samples in approximately 4.5 hours”. Shares in the company jumped sharply on Tuesday after it came out of a four-day trading halt.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, April 3:

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

Code Name Price 2 Week RSI Market Cap ($)
GSS GENETIC SIGNATURES LTD 1.96 84.82 279.39M
KAS KASBAH RESOURCES LTD 0.04 82.44 5.14M
LEG LEGEND MINING LTD 0.14 77.17 320.24M
CTE CRYOSITE LTD 0.07 74.79 3.37M
CRM CARBON MINERALS LTD 0.3 72.35 5.64M
CHN CHALICE GOLD MINES LTD 0.54 67.36 146.63M
GSW GETSWIFT LTD 0.52 67.15 98.05M
MMM MARLEY SPOON AG-CDI 0.7 67.11 110.96M
3PL 3P LEARNING LTD 0.85 67.11 117.86M
PYC PYC THERAPEUTICS LTD 0.07 67.00 202.27M
PXS PHARMAXIS LTD 0.11 66.87 43.43M
SMR STANMORE COAL LTD 0.99 66.36 253.53M
BLV BLOSSOMVALE HOLDINGS LTD 0.32 66.06 19.66M
TD1 TALI DIGITAL LTD 0.03 65.88 24.73M
CDY CELLMID LTD 0.27 65.79 26.08M
BFC BESTON GLOBAL FOOD CO LTD 0.09 64.68 43.34M
5GN 5G NETWORKS LTD/AUSTRALIA 0.85 64.23 60.90M
PTL PENTAL LTD 0.4 63.59 53.82M
ZNO ZOONO GROUP LTD 2.00 63.05 326.63M
RHY RHYTHM BIOSCIENCES LTD 0.1 62.77 9.67M
LSH LIFESPOT HEALTH LTD 0.06 61.98 4.91M
BEM BLACKEARTH MINERALS NL 0.04 61.47 4.43M
KTA KRAKATOA RESOURCES LTD 0.04 61.21 8.97M
MHI MERCHANT HOUSE INTL LTD 0.12 61.2 11.31M
WOA WIDE OPEN AGRICULTURE LTD 0.14 61.06 9.53M
SKN SKIN ELEMENTS LTD 0.02 60.91 6.04M
APV APPSVILLAGE AUSTRALIA LTD 0.19 60.9 14.57M
NZS NEW ZEALAND COASTAL SEAFOODS 0.016 60.82 7.95M
WRM WHITE ROCK MINERALS LTD 0.004 60.67 7.53M
DTS DRAGONTAIL SYSTEMS LTD 0.13 60.5 32.35M
MNF MNF GROUP LTD 4.56 60.46 384.46M
RIM RIMFIRE PACIFIC MINING NL 0.003 60.32 5.28M
HAW HAWTHORN RESOURCES LTD 0.1 60.07 32.01M
GAL GALILEO MINING LTD 0.17 60.06 20.46M

 

Running Cold

As markets sold off in March, the Running Cold list required some serious trimming to account for the hundreds of companies with RSI readings below 30.

When the current bear market hit its peak two weeks ago, Stockhead only selected companies with an RSI below 15 (the list was still 99 stocks long).

This week, we’ve increased the RSI cutoff back up to 25, resulting in a total of 74 companies which aren’t seeing much demand amid the broader volatility.

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, April 3:

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

Code Name Price ($) 2 Week RSI Market Cap
OZG OZGROWTH LTD 0.12 24.88 40.88M
VR8 VANADIUM RESOURCES LTD 0.01 24.79 3.74M
MME MONEYME LTD 0.58 24.72 98.28M
A2B A2B AUSTRALIA LTD 0.64 24.57 77.08M
IXU IXUP LTD 0.03 24.54 7.35M
VTI VISIONEERING TECH-CDI 0.01 24.47 5.59M
TDO 3D OIL LTD 0.05 24.45 13.52M
VRT VIRTUS HEALTH LTD 1.88 24.41 151.53M
BOT BOTANIX PHARMACEUTICALS LTD 0.03 24.36 26.26M
EAX ENERGY ACTION LTD 0.1 24.27 2.60M
RYD RYDER CAPITAL LTD 1.14 24 67.27M
CDT CASTLE MINERALS LTD 0.004 24 948.93k
DGH DESANE GROUP HOLDINGS LTD 1.14 23.99 46.64M
BMH BAUMART HOLDINGS LTD 0.19 23.95 27.50M
WTL WT FINANCIAL GRP LTD 0.02 23.94 3.61M
DXN DXN LTD 0.01 23.93 10.63M
FSI FLAGSHIP INVESTMENTS LTD 1.4 23.87 35.70M
BUX BUXTON RESOURCES LTD 0.04 23.8 5.99M
RCT REEF CASINO TRUST 1.58 23.58 77.52M
BIQ BUILDINGIQ INC-CDI 0.003 23.51 1.49M
SRV SERVCORP LTD 2.04 23.44 197.51M
MAD MADER GROUP LTD 0.65 23.16 130.00M
M8S M8 SUSTAINABLE LTD 0.04 23.16 9.80M
SGH SLATER & GORDON LTD 0.55 22.99 75.44M
FUN FUNTASTIC LTD 0.01 22.64 2.39M
PSC PROSPECT RESOURCES LTD 0.10 22.48 24.56M
QIP QANTM INTELLECTUAL PROPERTY 1.00 22.38 133.05M
TOU TLOU ENERGY LTD 0.04 22.27 17.56M
MTO MOTORCYCLE HOLDINGS LTD 0.65 22.18 40.11M
MHJ MICHAEL HILL INTERNATIONAL L 0.24 22.02 93.07M
ZMI ZINC OF IRELAND NL 0.03 21.97 3.16M
RNO RHINOMED LTD 0.07 21.97 11.51M
UCW UCW LTD 0.11 21.72 12.93M
PVS PIVOTAL SYSTEMS CORP INC-CDI 0.79 21.64 89.74M
ZER ZETA RESOURCES LTD 0.17 21.34 50.28M
MVF MONASH IVF GROUP LTD 0.45 21.13 106.10M
ARA ARIADNE AUSTRALIA LTD 0.45 20.99 88.31M
ENN ELANOR INVESTOR GROUP 0.86 20.98 101.04M
APH AUSTRALIAN PRIMARY HEMP LTD 0.05 20.95 3.56M
CG1 CARBONXT GROUP LTD 0.14 20.52 14.44M
NWC NEW WORLD RESOURCES LTD 0.005 20.48 4.37M
PGR THE PAS GROUP LTD 0.04 20.01 5.60M
VEN VINTAGE ENERGY LTD 0.05 19.88 13.06M
MCM MC MINING LTD 0.28 19.79 38.80M
TYM TYMLEZ GROUP LTD 0.01 19.6 1.48M
AXI AXIOM PROPERTIES LTD 0.03 19.48 12.98M
VOL VICTORY OFFICES LTD 0.8 19.36 32.52M
HCD HYDROCARBON DYNAMICS LTD 0.01 19.24 3.95M
ITG INTEGA GROUP LTD 0.18 18.66 80.15M
JXT JAXSTA LTD 0.02 17.75 3.96M
CPT CIPHERPOINT LTD 0.02 17.69 824.89k
SHO SPORTSHERO LTD 0.003 17.46 984.62k
DAF DISCOVERY AFRICA LTD 0.01 16.92 1.09M
JAY JAYRIDE GROUP LTD 0.07 16.58 7.08M
SFM SANTA FE MINERALS LTD 0.05 16.5 3.71M
DCG DECMIL GROUP LTD 0.12 16.3 28.71M
SIT SITE GROUP INTERNATIONAL LTD 0.02 16.24 14.82M
CRO CIRRALTO LTD 0.002 16.04 1.65M
OEX OILEX LTD 0.002 15.91 3.43M
PGL PROSPA GROUP LTD 0.48 15.85 77.45M
A1M AIC MINES LTD 0.21 15.63 10.92M
CVC CVC LTD 1.01 14.98 118.53M
KPT KANGAROO ISLAND PLANTATION 0.95 14.88 53.60M
OML OOH!MEDIA LTD 0.64 14.81 184.21M
WPP WPP AUNZ LTD 0.22 14.77 187.47M
DTM DART MINING NL 0.04 14.44 2.06M
CDP CARINDALE PROPERTY TRUST 2.72 13.8 190.40M
RDH REDHILL EDUCATION LTD 0.63 12.68 19.26M
SPQ SUPERIOR RESOURCES LTD 0.002 12.32 1.49M
SXL SOUTHERN CROSS MEDIA GROUP L 0.17 12.15 126.89M
SST STEAMSHIPS TRADING COMPANY 10 11.79 310.08M
SOM SOMNOMED LTD 1.05 11.52 80.46M
KAT KATANA CAPITAL LTD 0.57 10.05 24.32M