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

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, May 15:

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

Code Name Price 2 Week RSI Market Cap ($)
GTR GTI RESOURCES LTD 0.03 91.31 14.41M
TON TRITON MINERALS LTD 0.05 88.26 61.26M
ARS ALT RESOURCES LTD 0.05 84.16 26.12M
GES GENESIS RESOURCES LTD 0.02 81.87 12.53M
TIN TNT MINES LTD 0.2 81.68 5.73M
GUL GULLEWA LTD 0.07 80.14 10.86M
CXO CORE LITHIUM LTD 0.05 78.5 43.59M
CLB CANDY CLUB HOLDINGS LTD 0.09 78.04 19.60M
CRM CARBON MINERALS LTD 0.35 77.77 6.58M
TRS REJECT SHOP LTD/THE 4.35 77.62 164.16M
ZNC ZENITH MINERALS LTD 0.09 77.37 20.69M
RGL RIVERSGOLD LTD 0.02 76.55 3.96M
GAS STATE GAS LTD 0.53 76.12 77.50M
CTM CENTAURUS METALS LTD 0.24 75.75 62.34M
BNR BULLETIN RESOURCES LTD 0.06 75.67 10.76M
PRO PROPHECY INTERNATIONAL HLDGS 0.65 75.46 42.89M
NCZ NEW CENTURY RESOURCES LTD 0.23 75.23 195.10M
ICN ICON ENERGY LIMITED 0.01 75.03 7.17M
CPV CLEARVUE TECHNOLOGIES LTD 0.16 74.71 17.78M
KRR KING RIVER RESOURCES LTD 0.05 74.68 64.93M
DTZ DOTZ NANO LTD 0.07 74.27 20.41M
AZY ANTIPA MINERALS LTD 0.02 73.72 50.77M
AVA AVA RISK GROUP LTD 0.17 73.68 38.63M
PGM PLATINA RESOURCES LTD 0.02 73.48 7.50M
AL8 ALDERAN RESOURCES LTD 0.04 73.18 7.05M
SSG SHAVER SHOP GROUP LTD 0.55 73.08 70.82M
BKY BERKELEY ENERGIA LTD 0.31 72.7 80.17M
SCI SILVER CITY MINERALS LTD 0.01 72.53 4.79M
SCL SCHROLE GROUP LTD 0.02 72.33 15.19M
IXC INVEX THERAPEUTICS LTD 1.5 71.8 84.15M
IHR INTELLIHR LTD 0.08 71.68 15.47M
SDX SIENNA CANCER DIAGNOSTICS 0.07 71.54 24.89M
TIE TIETTO MINERALS LTD 0.38 71.53 129.62M
NUH NUHEARA LTD 0.02 71.44 25.97M
DXB DIMERIX LTD 0.26 71.4 46.29M
MTH MITHRIL RESOURCES LTD 0.01 71.01 9.32M
MLX METALS X LTD 0.1 70.93 89.82M
BRV BIG RIVER GOLD LTD 0.04 70.73 46.13M
XCD XCD ENERGY LTD 0.01 70.71 7.70M
AUT AUTECO MINERALS LTD 0.05 70.66 71.86M
SLC SUPERLOOP LTD 1.01 70.65 354.89M
FPL FREMONT PETROLEUM CORP LTD 0.005 70.64 10.43M
OCC ORTHOCELL LTD 0.38 70.43 71.11M
AWV ANOVA METALS LTD 0.01 70.19 14.96M
OPY OPENPAY GROUP LTD 1.23 70.1 113.96M
MAN MANDRAKE RESOURCES LTD 0.03 70.09 7.19M
PGY PILOT ENERGY LTD 0.02 70.09 1.59M

This week saw 47 stocks run hot with an RSI above 70, down slightly from last week’s tally of 52.

While a tone of caution continues to creep into markets, the Running Hot list is still well-populated — an indicator that sentiment in the small cap space remains broadly bullish.

The top end of the list remains resources-heavy, including graphite miner Triton Minerals (ASX:TON) which jumped into the top three.

Triton’s shares increased on all five trading days last week, including three double-digit percentage gains which culminated in a price query from the ASX on Thursday.

In response, the company said it wasn’t aware of any market-moving news, although it pointed to a company presentation on May 7 where management highlighted improving business conditions on the ground in China.

The Triton board said it “anticipated the acceleration of financing discussions in China, and construction to commence in Q3 2020”.

 

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, May 15:

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

Code Name Price ($) 2 Week RSI Market Cap
LNG LIQUEFIED NATURAL GAS LTD 0.04 29.84 24.80M
EVZ EVZ LTD 0.08 29.25 7.69M
MGU MAGNUM MINING AND EXPLORATION 0.04 28.06 12.18M
CD1 CORDISH DIXON PRIVATE EQUITY 0.74 27.79 28.87M
ENE ENEVIS LTD 0.04 27.3 2.66M
DVN DEVINE LTD 0.08 27.27 12.70M
ID8 IDENTITII LTD 0.10 26.68 5.91M
ARA ARIADNE AUSTRALIA LTD 0.38 26.24 74.57M
PSC PROSPECT RESOURCES LTD 0.08 25.7 19.95M
CGR CML GROUP LTD 0.28 25.58 62.01M
EN1 ENGAGE:BDR LTD 0.01 25.44 8.30M
KPT KANG. ISLAND PLANTATION TIMBERS 0.83 25.34 47.11M
SFM SANTA FE MINERALS LTD 0.05 25.04 3.93M
BHL BOYUAN HOLDINGS LTD 0.08 24.4 27.45M
MCM MC MINING LTD 0.15 24.24 21.16M
UCW UCW LTD 0.08 23.53 9.87M
CGA CONTANGO ASSET MANAGEMENT 0.25 22.94 11.82M
IXU IXUP LTD 0.02 20.78 4.46M
ARC AUSTRALIAN RURAL CAPITAL LTD 0.20 20.13 2.59M
KLO KINGSLAND GLOBAL LTD-CDI 0.06 19.83 24.30M
TIG TIGERS REALM COAL LTD 0.01 19.5 37.86M
ZER ZETA RESOURCES LTD 0.14 17.02 40.23M
SST STEAMSHIPS TRADING COMPANY 9.00 16.05 279.07M

The Running Cold list continued its steady decline, since it rose above 200 at the height of the market chaos in March.

This week, the number of ASX small caps with an RSI below 30 fell to 23, down from 26 in the week prior (and 33 the week before that).