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, June 19:
Scroll or swipe to reveal table. Click headings to sort.
Code Name Price 2 Week RSI Market Cap ($) INF INFINITY LITHIUM CORP LTD 0.10 84.27 25.07M BKY BERKELEY ENERGIA LTD 0.50 82.78 130.60M SPT SPLITIT PAYMENTS LTD 1.68 81.75 484.49M ALY ALCHEMY RESOURCES LTD 0.02 79.87 11.56M BNL BLUE STAR HELIUM LTD 0.01 79.72 9.54M KKO KINETIKO ENERGY LTD 0.07 78.69 36.94M 9SP 9 SPOKES INTERNATIONAL LTD 0.03 78.66 34.04M GAP GALE PACIFIC LTD 0.20 78.16 55.08M STA STRANDLINE RESOURCES LTD 0.22 77.3 93.89M OVH ONEVUE HOLDINGS LTD 0.38 76.79 101.81M KAI KAIROS MINERALS LTD 0.03 76.78 37.40M WAT WATERCO LTD 2.50 76.42 89.71M MGV MUSGRAVE MINERALS LTD 0.44 75.73 203.77M TRS REJECT SHOP LTD/THE 7.60 75.72 280.22M SUP SUPERIOR LAKE RESOURCES LTD 0.13 75.61 17.87M TRM TRUSCOTT MINING CORP LTD 0.02 75.15 2.24M RXL ROX RESOURCES LTD 0.05 75.12 85.65M XTD XTD LTD 0.05 74.96 6.90M DTM DART MINING NL 0.11 74.43 7.06M GLH GLOBAL HEALTH LTD 0.20 74.21 8.42M ZNC ZENITH MINERALS LTD 0.11 74.2 26.77M FHS FREEHILL MINING LTD 0.06 74.13 82.23M CRO CIRRALTO LTD 0.01 74.1 5.76M SSG SHAVER SHOP GROUP LTD 0.71 74.08 90.42M BFC BESTON GLOBAL FOOD CO LTD 0.10 73.75 49.46M IRD IRON ROAD LTD 0.08 73.74 51.33M GRV GREENVALE ENERGY LTD 0.04 73.64 4.25M SGC SACGASCO LTD 0.03 73.46 8.11M GSM GOLDEN STATE MINING LTD 0.38 73.01 16.25M DXB DIMERIX LTD 0.44 72.9 79.87M VUL VULCAN ENERGY RESOURCES LTD 0.47 72.9 24.15M TLM TALISMAN MINING LTD 0.14 72.58 26.13M ABA AUSWIDE BANK LTD 5.31 72.41 224.90M CGS COGSTATE LTD 0.40 72.31 69.76M IMC IMMURON LTD 0.27 72.29 52.55M RGL RIVERSGOLD LTD 0.05 71.76 14.39M AL8 ALDERAN RESOURCES LTD 0.20 71.45 43.92M TMX TERRAIN MINERALS LTD 0.01 71.19 5.79M CZR COZIRON RESOURCES LTD 0.02 71.14 38.18M VBS VECTUS BIOSYSTEMS LTD 0.72 71.05 17.98M PAA PHARMAUST LTD 0.14 70.99 40.77M HMX HAMMER METALS LTD 0.04 70.9 21.62M ORM ORION METALS LTD 0.02 70.88 11.31M VRS VERIS LTD 0.04 70.8 17.43M ZNO ZOONO GROUP LTD 2.74 70.36 461.39M PPC PEET LTD 0.97 70.36 468.80M PYG PAYGROUP LTD 0.83 70.25 54.43M ARV ARTEMIS RESOURCES LTD 0.04 70.19 43.42M ASIA BETASHARES ASIA TECH TIGERS 8.50 70.17 154.37M AUR AURIS MINERALS LTD 0.04 70.15 17.57M AFL AF LEGAL GROUP 0.19 70.04 11.72M
A total of 52 ASX small caps made the cut this week with a 14-day RSI above 70 this week.
Among them was fintech company Splitit (ASX:SPT), which if anything had spent most of its time on the Running Cold list after turning heads with a red-hot IPO in January 2019.
But after failing to lodge the same returns as its buy now, pay later peers during the COVID-19 market rally, the stock rose by 108 per cent on Thursday following the announcement of a partnership agreement with global payments company Mastercard.
Running Cold
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, June 19:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price ($) | 2 Week RSI | Market Cap |
---|---|---|---|---|
ARU | ARAFURA RESOURCES LTD | 0.06 | 29.13 | 65.40M |
ZER | ZETA RESOURCES LTD | 0.14 | 28.94 | 40.23M |
BLV | BLOSSOMVALE HOLDINGS LTD | 0.04 | 28.91 | 2.64M |
PXS | PHARMAXIS LTD | 0.07 | 28.03 | 26.48M |
EGY | ENERGY TECHNOLOGIES LTD | 0.19 | 27.95 | 15.87M |
MAR | MALACHITE RESOURCES LTD | 0.03 | 27.68 | 2.04M |
NUC | NUCHEV LTD | 2.31 | 27.38 | 103.95M |
PKD | PARKD LTD | 0.03 | 27.33 | 1.88M |
TNP | TRIPLE ENERGY LTD | 0.005 | 26.63 | 359.98k |
AVR | ANTERIS TECHNOLOGIES LTD | 5.04 | 25.09 | 29.84M |
PET | PHOSLOCK ENVIRONMENTAL TECHNOLOGIES | 0.36 | 24.86 | 221.88M |
BHL | BOYUAN HOLDINGS LTD | 0.08 | 24.35 | 27.45M |
CPH | CRESO PHARMA LTD | 0.04 | 23.41 | 11.72M |
AMB | AMBITION GROUP LTD | 0.02 | 22.27 | 1.55M |
14D | 1414 DEGREES LTD | 0.06 | 22.06 | 11.93M |
KPE | KINA PETROLEUM CORP | 1.05 | 21.58 | 13.46M |
FZR | FITZROY RIVER CORP LTD | 0.10 | 21.2 | 9.07M |
VOL | VICTORY OFFICES LTD | 0.38 | 20.49 | 15.75M |
KLL | KALIUM LAKES LTD | 0.14 | 15.24 | 112.32M |
UUL | ULTIMA UNITED LTD | 0.02 | 10.97 | 527.86k |
BIR | BIR FINANCIAL LTD | 0.01 | 7.01 | 1.22M |