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).