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 12:
Scroll or swipe to reveal table. Click headings to sort.
Code Company Price RSI Market Cap ACS Accent Resources NL 0.06 99 $ 20,505,200 ORM Orion Metals Ltd 0.05 99 $ 27,254,872 BD1 Bard1 Life Sciences 1.81 95 $ 127,309,346 MXC MGC Pharmaceuticals 0.061 93 $ 104,753,990 IOU Ioupay Limited 0.375 86 $ 128,387,389 3DP Pointerra Limited 0.8 86 $ 503,049,834 Z1P Zip Co Ltd. 1065 84 $ 5,954,034,890 RNT Rent.Com.Au Limited 0.285 83 $ 107,366,641 NCL Netccentric Ltd 0.099 83 $ 24,937,500 TMH The Market Herald 0.785 82 $ 148,019,304 TRM Truscott Mining Corp 0.027 81 $ 3,454,422 MYQ Myfiziq Limited 1.77 79 $ 225,313,852 BEM Blackearth Minerals 0.195 77 $ 27,826,679 PGY Pilot Energy Ltd 0.082 77 $ 17,905,771 GLL Galilee Energy Ltd 0.79 77 $ 239,161,050 RAC Race Oncology Ltd 2.86 76 $ 358,601,084 EGR Ecograf Limited 0.965 75 $ 363,986,768 FFG Fatfish Group 0.051 75 $ 39,931,673 RMI Resource Mining Corp 0.022 75 $ 6,517,882 SGC Sacgasco Ltd 0.1 75 $ 35,758,058 NOX Noxopharm Limited 0.895 74 $ 236,538,707 GGX Gas2Grid Limited 0.01 73 $ 17,367,961 T3D 333D Limited 0.3 73 $ 4,131,466 ADO Anteotech Ltd 0.22 73 $ 383,380,074 A3D Aurora Labs Limited 0.175 72 $ 32,108,259 BNO Bionomics Limited 0.24 72 $ 183,811,888 ASP Aspermont Limited 0.022 71 $ 46,177,801 ARN Aldoro Resources 0.32 70 $ 21,256,453 LRS Latin Resources Ltd 0.062 70 $ 77,639,056
Last week’s leader, financial services firm Centrepoint Alliance (ASX:CAF), fell out of this week’s list.
But there were plenty of stocks running hot, as Stockhead’s data team recorded 29 companies that posted a 14-day RSI above 70 (that’s up from 23 last week).
That included two companies with a red-hot reading of 99 (which doesn’t happen often).
Iron ore junior Accent Resources (ASX:ACS) has a recent history of jumping around, and the stock has been ripping higher in February on no news.
Near the top of the list was Bard1 Life Sciences (ASX:BD1), which doubled this week after a promising test for its ovarian cancer treatment.
Also running hot this week was BNPL leader Zip Co (ASX:Z1P), which is trading above $10 and posted an RSI of 84, as well as rent.com.au (ASX:RNT) which has been on an eye-watering rally since leading tech investor Bevan Slattery took a 10 per cent stake in the business.
Running Cold
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, February 12:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
VTG | Vita Group Ltd | 0.86 | 30 | $ 134,195,295 |
CTE | Cryosite Limited | 0.305 | 28 | $ 14,760,762 |
NMR | Native Mineral Res | 0.23 | 28 | $ 6,771,173 |
ENR | Encounter Resources | 0.125 | 28 | $ 41,023,281 |
ID8 | Identitii Limited | 0.125 | 28 | $ 19,732,839 |
BIR | BIR Financial Ltd | 0.021 | 27 | $ 1,706,258 |
AMP | AMP Limited | 1.36 | 27 | $ 4,708,140,960 |
MTC | Metalstech Ltd | 0.17 | 27 | $ 24,916,498 |
E2M | E2 Metals | 0.415 | 26 | $ 65,849,699 |
PCH | Property Connect | 0.0015 | 26 | $ 1,028,795 |
PRO | Prophecy Internation | 0.575 | 26 | $ 36,805,626 |
CIM | Cimic Group Ltd | 20.68 | 24 | $ 6,490,527,563 |
ZNO | Zoono Group Ltd | 0.875 | 24 | $ 146,880,873 |
PAL | Palla Pharma Ltd | 0.53 | 24 | $ 66,752,428 |
DGR | DGR Global Ltd | 0.055 | 21 | $ 53,656,830 |
CLH | Collection House | 0.27 | 19 | $ 39,035,745 |
MPH | Mediland Pharm | 0.047 | 14 | $ 14,699,890 |