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

It could be a mark of the reduced volatility seen so far in April that the Running Hot list more or less returned to normal this week.

After Stockhead‘s data team crunched the numbers, a total of 39 companies were shown to be “running hot” with an RSI reading over 70.

That is much closer to the long-run average of 45. And for comparison’s sake, at the height of the market chaos in March the number of stocks that made the cut dwindled to just two or three.

Perhaps not surprisingly, gold explorer Predictive Discovery (ASX:PDI) topped the list after posting an intra-day gain of 733 per cent on Wednesday, following a big gold hit at its project in Guinea.

And while various COVID-19 related announcements can still give rise to big price gains, the top six companies in this weeks list — all with an RSI reading above 80 — were resources stocks.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, April 17:

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

Code Name Price 2 Week RSI Market Cap ($)
PDI PREDICTIVE DISCOVERY LTD 0.07 93.4 38.87M
XTC XANTIPPE RESOURCES LTD 0.004 86.24 16.62M
DEV DEVEX RESOURCES LTD 0.09 83.03 17.70M
LEG LEGEND MINING LTD 0.19 82.02 450.70M
RML RESOLUTION MINERALS LTD 0.13 80.33 24.58M
CHN CHALICE GOLD MINES LTD 1.19 80.33 275.44M
SKN SKIN ELEMENTS LTD 0.11 78.22 34.94M
ARM AURORA MINERALS LTD 0.01 78.03 3.75M
CM8 CROWD MEDIA HOLDINGS LTD 0.03 77.89 8.50M
CRM CARBON MINERALS LTD 0.34 76.81 6.39M
CTE CRYOSITE LTD 0.07 76.55 3.47M
HSC HOMESTAY CARE LTD 0.01 75.23 16.75M
HXG HEXAGON ENERGY MATERIALS LTD 0.06 74.82 19.01M
APH AUSTRALIAN PRIMARY HEMP LTD 0.15 74.69 9.77M
CYC CYCLOPHARM LTD 1.45 74.6 112.66M
DEG DE GREY MINING LTD 0.37 74.58 348.78M
CAG CAPE RANGE LTD 0.6 74.46 50.19M
MMJ MMJ GROUP HOLDINGS LTD 0.14 74.12 31.04M
HAV HAVILAH RESOURCES LTD 0.12 73.58 30.58M
BMN BANNERMAN RESOURCES LTD 0.04 73.32 46.59M
PYC PYC THERAPEUTICS LTD 0.08 73.27 234.51M
CSS CLEAN SEAS SEAFOOD LTD 0.74 72.5 73.98M
HAW HAWTHORN RESOURCES LTD 0.14 72.46 45.73M
AVE AVECHO BIOTECHNOLOGY LTD 0.006 72.19 7.89M
MMM MARLEY SPOON AG-CDI 1.09 72.02 172.79M
MTC METALSTECH LTD 0.15 71.93 17.54M
TNR TORIAN RESOURCES LTD 0.01 71.69 4.81M
ACB A-CAP ENERGY LTD 0.01 71.68 11.33M
BNR BULLETIN RESOURCES LTD 0.04 71.55 6.63M
NVU NANOVEU LTD 0.06 71.45 8.22M
VAN VANGO MINING LTD 0.14 71.35 108.61M
LOT LOTUS RESOURCES LTD 0.06 70.89 37.34M
AAR ANGLO AUSTRALIAN RESOURCES 0.14 70.79 65.00M
GAL GALILEO MINING LTD 0.25 70.76 25.88M
RDG RESOURCE DEVELOPMENT GROUP L 0.03 70.64 15.80M
GTR GTI RESOURCES LTD 0.01 70.38 3.72M
MCP MCPHERSON'S LTD 2.59 70.34 277.69M
SHK STONE RESOURCES AUSTRALIA LT 0.005 70.1 4.18M

 

Running Cold

It was a similar story on the cooler side of the ledger, where we were able to increase the RSI cutoff back to its standard measure of 30.

During March, the number of companies “running cold” started numbering well into the hundreds, to the point we had to only include companies with an RSI below 15 for the two weeks ended Friday, March 13.

But with the reduction in volatility, things have normalised somewhat (for now). This week, there were a total of 60 companies on the list with an RSI below 30.

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, April 17:

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

Code Name Price ($) 2 Week RSI Market Cap
KOR KORAB RESOURCES LTD 0.007 29.87 1.33M
AMO AMBERTECH LTD 0.04 29.77 2.83M
CVC CVC LTD 1.14 29.73 134.37M
LHM LAND & HOMES GROUP LTD 0.002 29.71 2.10M
SIO SIMONDS GROUP LTD 0.2 29.61 29.49M
FTZ FERTOZ LTD 0.06 29.6 9.42M
IGN IGNITE LTD 0.005 29.56 447.91k
TPS THREAT PROTECT AUSTRALIA LTD 0.05 29.41 13.25M
OLV OTHERLEVELS HOLDINGS LIMITED 0.006 29.3 1.42M
TKM TREK METALS LTD 0.01 29.13 657.39k
GDF GARDA PROPERTY GROUP 0.86 28.88 161.26M
SIT SITE GROUP INTERNATIONAL LTD 0.02 28.85 16.89M
OVT OVATO LTD 0.01 28.84 6.59M
TER TERRACOM LTD 0.12 28.73 70.53M
CLB CANDY CLUB HOLDINGS LTD 0.04 28.63 8.05M
BBC BNK BANKING CORP LTD 0.41 28.63 38.65M
GED GOLDEN DEEPS LTD 0.01 28.35 1.96M
CPT CIPHERPOINT LTD 0.02 28.13 785.61k
EMP EMPEROR ENERGY LTD 0.02 28.08 1.31M
EAX ENERGY ACTION LTD 0.11 28.05 2.85M
FE8 FASTER ENTERPRISES LTD 0.01 27.89 665.31k
TIN TNT MINES LTD 0.05 27.74 1.46M
TBL TAMBLA LTD 0.14 27.53 2.77M
LI3 LITHIUM CONSOLIDATED LTD 0.01 27.37 1.62M
SUH SOUTHERN HEMISPHERE MINING 0.01 27.33 1.20M
BEL BENTLEY CAPITAL LTD 0.03 26.83 1.90M
XF1 XREF LTD 0.09 26.63 16.92M
CGA CONTANGO ASSET MANAGEMENT 0.28 26.52 13.24M
EVZ EVZ LTD 0.08 26.45 7.30M
SXL SOUTHERN CROSS MEDIA GROUP 0.16 26.42 217.25M
RVS REVASUM INC-CDI 0.33 26.1 25.75M
DCG DECMIL GROUP LTD 0.14 25.99 33.50M
AGJ AGRICULTURAL LAND TRUST 0.02 25.9 2.15M
UCW UCW LTD 0.1 25.89 12.34M
BRI BIG RIVER INDUSTRIES LTD 1.33 25.23 83.08M
TAO TAO COMMODITIES LTD 0.04 25.19 1.41M
HOT HOTCOPPER HOLDINGS LTD 0.1 25.05 18.90M
QIP QANTM INTELLECTUAL PROPERTY 1 24.92 133.05M
PNC PIONEER CREDIT LTD 0.29 24.85 17.75M
A2B A2B AUSTRALIA LTD 0.67 24.45 74.67M
SGH SLATER & GORDON LTD 0.5 24.37 66.45M
DGH DESANE GROUP HOLDINGS LTD 1.14 23.99 46.64M
IXU IXUP LTD 0.03 23.97 5.57M
JAY JAYRIDE GROUP LTD 0.08 23.11 8.09M
GTN GTN LTD 0.41 22.82 83.96M
ENE ENEVIS LTD 0.05 21.74 3.53M
HPR HIGH PEAK ROYALTIES LTD 0.06 20.95 11.34M
BIQ BUILDINGIQ INC-CDI 0.003 20.78 1.12M
ZER ZETA RESOURCES LTD 0.17 20.67 48.85M
VEN VINTAGE ENERGY LTD 0.04 20.21 11.76M
KPT KANGAROO ISLAND PLANTATION 0.87 20.15 48.81M
RDH REDHILL EDUCATION LTD 0.56 19.65 17.26M
TIG TIGERS REALM COAL LTD 0.01 19.5 37.86M
ARA ARIADNE AUSTRALIA LTD 0.43 18.46 84.38M
SST STEAMSHIPS TRADING COMPANY 9.9 18.44 306.98M
SFM SANTA FE MINERALS LTD 0.05 16.12 3.64M
MCM MC MINING LTD 0.16 13.63 21.87M
VOL VICTORY OFFICES LTD 0.5 13.6 20.45M
DCN DACIAN GOLD LTD 0.37 13.53 98.22M
SPQ SUPERIOR RESOURCES LTD 0.002 12.32 1.49M