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 29:

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

Code Name Price 2 Week RSI Market Cap ($)
GLA GLADIATOR RESOURCES LTD 0.001 98.97 3.76M
CTE CRYOSITE LTD 0.18 97.28 11.48M
MXR MAXIMUS RESOURCES LTD 0.09 90.31 7.75M
MAU MAGNETIC RESOURCES NL 1.21 83.87 255.22M
GES GENESIS RESOURCES LTD 0.02 83.01 13.31M
ANP ANTISENSE THERAPEUTICS LTD 0.08 82.79 36.17M
ABR AMERICAN PACIFIC BORATES LTD 0.7 82.34 168.55M
MSM MSM CORPORATION INTERNATIONAL 0.03 81.68 22.66M
CUE CUE ENERGY RESOURCES LTD 0.1 81.65 73.30M
MAI MAINSTREAM GROUP HOLDINGS 0.54 81.55 71.19M
TRS REJECT SHOP LTD/THE 5.24 81.28 209.59M
YOJ YOJEE LTD 0.06 80.41 59.00M
FHS FREEHILL MINING LTD 0.05 80.29 63.73M
AWV ANOVA METALS LTD 0.03 79.69 29.93M
HLO HELLOWORLD TRAVEL LTD 2.54 79.15 320.53M
ASN ANSON RESOURCES LTD 0.05 79 30.55M
NVX NOVONIX LTD 0.48 78.94 74.18M
ARS ALT RESOURCES LTD 0.05 78.92 28.85M
BC8 BLACK CAT SYNDICATE LTD 0.64 78.88 53.87M
ST1 SPIRIT TELECOM LTD 0.22 78.76 93.80M
GTR GTI RESOURCES LTD 0.04 78.65 22.39M
MTO MOTORCYCLE HOLDINGS LTD 1.43 78.52 84.85M
BKT BLACK ROCK MINING LTD 0.05 77.65 33.96M
ECX ECLIPX GROUP LTD 1.23 76.53 405.94M
ENN ELANOR INVESTOR GROUP 1.28 76.5 155.08M
CAI CALIDUS RESOURCES LTD 0.44 76.28 87.09M
OBM ORA BANDA MINING LTD 0.26 76.19 152.70M
ADI APN INDUSTRIA REIT 2.54 75.95 496.05M
IPD IMPEDIMED LTD 0.08 75.94 78.13M
RFT RECTIFIER TECHNOLOGIES LTD 0.04 75.92 56.12M
LBT LBT INNOVATIONS LTD 0.17 75.7 40.04M
BUY BOUNTY OIL & GAS NL 0.01 75.66 11.44M
GSN GREAT SOUTHERN MINING LTD 0.09 75.21 36.36M
EQE EQUUS MINING LTD 0.01 75.11 18.36M
SGH SLATER & GORDON LTD 0.9 75.04 124.59M
NTD NATIONAL TYRE & WHEEL LTD 0.37 74.99 37.56M
AQZ ALLIANCE AVIATION SERVICES L 2.75 74.98 350.54M
EOL ENERGY ONE LTD 3.7 74.94 85.92M
STA STRANDLINE RESOURCES LTD 0.17 74.9 70.42M
ERM EMMERSON RESOURCES LTD 0.12 74.9 48.86M
AZY ANTIPA MINERALS LTD 0.03 74.83 62.31M
VIC VICTORY MINES LTD 0.001 74.81 4.70M
ADN ANDROMEDA METALS LTD 0.07 74.62 102.03M
BLX BEACON LIGHTING GROUP LTD 0.97 74.54 213.59M
FOR FORAGER AUSTRALIAN SHARES FD 0.93 74.27 105.31M
SBR SABRE RESOURCES LTD 0.003 74.25 3.43M
CYG COVENTRY GROUP LTD 0.8 74.01 68.25M
ANA ANSILA ENERGY NL 0.02 74.01 7.63M
PDI PREDICTIVE DISCOVERY LTD 0.09 73.98 63.68M
LYL LYCOPODIUM LTD 5.00 73.91 198.66M
JAY JAYRIDE GROUP LTD 0.19 73.87 19.97M
HZR HAZER GROUP LTD 0.51 73.69 58.52M
SO4 SALT LAKE POTASH LTD 0.56 73.68 196.30M
AGS ALLIANCE RESOURCES LTD 0.18 73.67 30.29M
PNR PANTORO LTD 0.21 73.6 241.07M
INF INFINITY LITHIUM CORP LTD 0.06 73.59 13.61M
EXP EXPERIENCE CO LTD 0.15 73.58 80.59M
KAI KAIROS MINERALS LTD 0.02 73.55 22.44M
RTR RUMBLE RESOURCES LTD 0.09 73.51 39.76M
VR1 VECTION TECHNOLOGIES LTD 0.03 73.45 27.97M
CDM CADENCE CAPITAL LTD 0.61 73.4 193.77M
SDX SIENNA CANCER DIAGNOSTICS LT 0.07 73.28 27.66M
MPW MSL SOLUTIONS LTD 0.08 73.2 24.17M
ARE ARGONAUT RESOURCES NL 0.01 73.19 13.77M
WGN WAGNERS HOLDING CO LTD 1.21 73.16 234.00M
CVF CONTRARIAN VALUE FUND LTD 0.82 73.06 56.97M
PPG PRO-PAC PACKAGING LTD 0.19 73.02 146.00M
E25 ELEMENT 25 LTD 0.38 72.94 37.73M
XRF XRF SCIENTIFIC LTD 0.23 72.8 30.78M
MCR MINCOR RESOURCES NL 0.73 72.75 243.91M
AMA AMA GROUP LTD 0.64 72.67 490.11M
AZI ALTA ZINC LTD 0.01 72.65 15.42M
DEV DEVEX RESOURCES LTD 0.14 72.52 25.70M
APZ ASPEN GROUP 1.2 72.46 115.59M
MAY MELBANA ENERGY LTD 0.01 72.38 18.53M
PM8 PENSANA RARE EARTHS PLC-CDI 0.27 72.34 44.17M
ZNC ZENITH MINERALS LTD 0.09 72.05 20.93M
GPR GEOPACIFIC RESOURCES LTD 0.53 71.87 92.50M
FLN FREELANCER LTD 0.51 71.7 233.18M
GSM GOLDEN STATE MINING LTD 0.23 71.68 8.61M
ENX ENEGEX LTD 0.02 71.62 1.29M
MWR MGM WIRELESS LTD 0.14 71.61 19.85M
PIC PERPETUAL EQUITY INVESTMENT 0.94 71.52 323.48M
EGI ELLERSTON GLOBAL INVESTMENTS 1.05 71.44 115.61M
A1G AFRICAN GOLD LTD 0.13 71.42 7.84M
SNL SUPPLY NETWORK LTD 4.22 71.35 172.01M
MNS MAGNIS ENERGY TECHNOLOGIES L 0.08 71.29 49.67M
FEX FENIX RESOURCES LTD 0.08 71.2 23.72M
AGY ARGOSY MINERALS LTD 0.07 71.16 69.33M
WIC WESTOZ INVESTMENT CO LTD 0.9 71.14 121.45M
SVM SOVEREIGN METALS LTD 0.17 71.07 65.04M
NCK NICK SCALI LTD 5.71 71.07 464.13M
ICQ ICAR ASIA LTD 0.34 71.03 138.81M
SXY SENEX ENERGY LTD 0.24 70.88 364.31M
PGM PLATINA RESOURCES LTD 0.03 70.85 8.16M
PYC PYC THERAPEUTICS LTD 0.09 70.53 263.83M
WSP WHISPIR LTD 2.43 70.49 256.30M
MIL MILLENNIUM SERVICES GROUP 0.4 70.44 18.37M
5GN 5G NETWORKS LTD 1.11 70.42 81.31M
BYH BRYAH RESOURCES LTD 0.06 70.4 6.05M
ARM AURORA MINERALS LTD 0.03 70.36 6.33M
SGF SG FLEET GROUP LTD 1.71 70.35 458.78M
TPC TPC CONSOLIDATED LTD 1.15 70.31 12.92M
CUP COUNTPLUS LTD 1.04 70.25 118.79M
CTM CENTAURUS METALS LTD 0.29 70.24 72.73M
PLL PIEDMONT LITHIUM LTD 0.12 70.17 99.16M
KPG KELLY PARTNERS GROUP HOLDING 0.95 70.16 43.36M
DTZ DOTZ NANO LTD 0.08 70.09 23.08M
AMN AGRIMIN LTD 0.48 70.08 93.43M
MYL MYANMAR METALS LTD 0.06 70.06 99.04M
MLL MALI LITHIUM LTD 0.1 70.01 29.83M

As a measure of the bullish sentiment still prevailing in stock markets, the Running Hot list remained well-populated this week.

There were 111 small caps with a two-week RSI reading above 70 (up slightly from 108 the week prior). Recall that at the height of the March selloff, there were just two.

Topping the list was minnow explorer Gladiator Resources (ASX:GLA), which briefly doubled up on Thursday before sliding back to end the week.

Gladiator, which has a market cap of around $4m, saw daily trading volume surge above 250 million on Thursday (up from around 7 million the day before).

The move appeared to be the result of a block-trade as a substantial Gladiator holder, Parry Capital Management, sold its entire 8 per cent stake on market that day.

 

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, May 29:

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

Code Name Price ($) 2 Week RSI Market Cap
MAR MALACHITE RESOURCES LTD 0.04 29.72 2.86M
CGR CML GROUP LTD 0.28 29.27 59.83M
TNP TRIPLE ENERGY LTD 0.01 28.99 431.98k
AMB AMBITION GROUP LTD 0.04 28.34 2.69M
FZR FITZROY RIVER CORP LTD 0.15 28.09 12.95M
EVZ EVZ LTD 0.08 27.15 7.30M
SST STEAMSHIPS TRADING COMPANY 9.5 24.46 294.58M
BHL BOYUAN HOLDINGS LTD 0.08 24.39 27.45M
GLVDA GLOBAL OIL & GAS LTD 0.01 23.97 1.83M
MGU MAGNUM MINING AND EXPLORATION 0.03 20.42 9.14M
ZER ZETA RESOURCES LTD 0.14 17.02 40.23M
BIR BIR FINANCIAL LTD 0.05 10.85 4.06M

On the other end of the ledger, just 12 ASX small caps traded with a two-week RSI below 30 over the past fortnight.

That’s down from 23 the week before, compared to a surge above 200 when the COVID-19 crisis was at its peak.