There was a broad mix of industries running hot this week, as stocks spanning the resources, energy and financial services sectors posted 14-day RSI readings above 90.
Stockhead’s Hot Money Monday 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 look-out 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, February 5:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
RDF | Redflex Holdings | 0.88 | 93 | $ 132,231,787 |
HWK | Hawkstone Mng Ltd | 0.05 | 90 | $ 81,624,971 |
RLT | Renergen Limited | 2.26 | 85 | $ 26,456,251 |
PTX | Prescient Ltd | 0.13 | 84 | $ 83,271,891 |
GME | GME Resources Ltd | 0.13 | 82 | $ 47,333,689 |
MNS | Magnis Energy Tech | 0.34 | 82 | $ 273,752,240 |
AWN | AWN Holdings Limited | 1.40 | 81 | $ 57,111,983 |
TMH | The Market Herald | 0.50 | 80 | $ 94,884,170 |
ENA | Ensurance Ltd | 0.02 | 80 | $ 11,990,081 |
CXL | Calix Limited | 1.62 | 80 | $ 201,971,616 |
MGT | Magnetite Mines | 0.03 | 78 | $ 88,546,948 |
ELT | Elementos Limited | 0.02 | 78 | $ 38,955,917 |
MNB | Minbos Resources Ltd | 0.10 | 78 | $ 35,117,500 |
MRQ | Mrg Metals Limited | 0.02 | 77 | $ 23,283,674 |
CG1 | Carbonxt Group | 0.25 | 77 | $ 32,618,548 |
FSG | Field Solu Hldgs Ltd | 0.06 | 76 | $ 28,288,184 |
RNU | Renascor Res Ltd | 0.04 | 75 | $ 66,628,393 |
XST | Xstate Resources | 0.01 | 75 | $ 12,678,686 |
BPH | BPH Energy Ltd | 0.20 | 74 | $ 140,075,371 |
IBG | Ironbark Zinc Ltd | 0.03 | 73 | $ 23,513,803 |
PWN | Parkway Minls NL | 0.02 | 71 | $ 41,816,588 |
ZEU | Zeus Resources Ltd | 0.03 | 71 | $ 4,683,900 |
LKE | Lake Resources | 0.32 | 70 | $ 315,410,229 |
A total of 23 stocks posted a 14-day RSI above 70, the same number as last week.
Financial services firm Centrepoint Alliance (ASX:CAF) jumped to the top of this week’s list following a trading update last Tuesday.
The stock posted three straight days of steady gains after announcing a $2.1m half-year profit (up from at $400,000 loss) and a return to dividend payments.
Hawkstone Mining (ASX:HWK) also made an appearance at the top of the list, after a run of positive news flow on its gold and lithium projects in the US state of Nevada.
And South Africa-based Renergen (ASX:RLT) has also been running hot, after inking a gas distribution deal during the week.
Local freight shipper Bulk Hauliers International Transport (BHIT) has agreed to buy LNG from Renergen to fuel its fleet of 50 trucks.
Running Cold
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, February 5:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
CM8 | Crowd Media Limited | 0.036 | 30 | $ 21,868,075.16 |
SIH | Sihayo Gold Limited | 0.014 | 30 | $ 55,281,921.20 |
CCA | Change Financial Ltd | 0.095 | 30 | $ 39,872,707.38 |
BTR | Brightstar Resources | 0.037 | 29 | $ 16,994,279.80 |
WFL | Wellfully Limited | 0.09 | 29 | $ 13,183,841.97 |
EVZ | EVZ Limited | 0.1 | 28 | $ 9,611,673.40 |
DGR | DGR Global Ltd | 0.062 | 28 | $ 65,363,774.71 |
JAL | Jameson Resources | 0.09 | 27 | $ 27,299,870.10 |
SWK | Swick Mining | 0.155 | 26 | $ 53,827,780.14 |
TYM | Tymlez Group | 0.04 | 26 | $ 10,805,364.23 |
EM1 | Emerge Gaming Ltd | 0.049 | 26 | $ 39,730,044.10 |
ERD | Eroad Limited | 4.28 | 25 | $ 352,154,262.00 |
GUL | Gullewa Limited | 0.087 | 24 | $ 16,413,579.00 |
STN | Saturn Metals | 0.445 | 23 | $ 46,639,739.30 |
KPE | Kina Petroleum Corp | 0.115 | 17 | $ 1,460,156.73 |
CLH | Collection House | 0.3 | 16 | $ 43,294,189.41 |
AQC | Auspaccoal Ltd | 0.13 | 16 | $ 6,563,025.30 |
SRH | Saferoads Holdings | 0.24 | 10 | $ 8,990,827.92 |