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.