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.

Here’s this week’s list:

 

Running Hot

Health solutions provider Konekt (ASX:KKT) has been running hot for a few weeks since getting a takeover bid.

Last week the bidder, Advanced Personnel Management, upped its offer to 70c per share. The directors recommended again that shareholders accept the offer.

MetalsTech (ASX:MTC) also made this week’s list. On Thursday it surged 500 per cent with news it was seeking to buy a gold project in Slovakia.

Prescient Therapeutics (ASX:PTX) has enjoyed a solid run in the last fortnight. It commenced a phase 1b trial for its anti-cancer drug PTX-100 and announced a collaboration with a private company that is developing stem cell therapies using a patient’s own immune system.

Non-bank lender Resimac (ASX:RMC) has run hot since a solid financial update last week. It has nearly $11 billion in assets under management and anticipates a $24m-$27m first half profit.

Code Name Price 2 Week RSI Market Cap
KKT KONEKT LTD 0.71 90.61 68.23M
IMU IMUGENE LTD 0.06 88.83 216.89M
IKW IKWEZI MINING LTD 0.004 86.43 12.20M
AMT ALLEGRA ORTHOPAEDICS LTD 0.24 83.01 23.89M
CSV CSG LTD 0.31 82.98 137.02M
HIL HILLS LTD 0.33 82.67 76.56M
WGN WAGNERS HOLDING CO LTD 2.21 80.64 380.33M
SHJ SHINE CORPORATE LTD 0.93 80.47 168.06M
VLT VAULT INTELLIGENCE LTD 0.5 79.97 66.56M
MLD MACA LTD 1.13 79.28 300.17M
OCL OBJECTIVE CORPORATION LTD 5.04 77.72 468.61M
EGH EUREKA GROUP HOLDINGS LTD 0.34 77.22 78.21M
BOC BOUGAINVILLE COPPER LTD 0.24 77.21 62.16M
ARL ARDEA RESOURCES LTD 0.75 76.93 86.80M
QMS QMS MEDIA LTD 1.22 76.8 418.86M
RMC RESIMAC GROUP LTD 1.18 76.45 459.43M
MAG MAGMATIC RESOURCES LTD 0.17 75.72 24.49M
VMT VMOTO LTD 0.28 75.12 60.69M
APV APPSVILLAGE AUSTRALIA LTD 0.38 74.85 30.00M
ADT ADRIATIC METALS PLC-CDI 1.47 74.78 246.84M
ADO ANTEOTECH LTD 0.02 74.73 29.89M
MTC METALSTECH LTD 0.07 74.71 7.72M
CMP COMPUMEDICS LTD 0.87 74.47 155.90M
BRI BIG RIVER INDUSTRIES LTD 1.3 73.92 81.21M
MCX MARINER CORP LTD 0.06 73.4 892.98k
MRR MINREX RESOURCES LTD 0.01 73.17 1.34M
AEF AUSTRALIAN ETHICAL INVT LTD 3.49 73.06 385.60M
OLH OLDFIELDS HOLDINGS LTD 0.08 72.1 6.90M
CCV CASH CONVERTERS INTL LTD 0.25 71.8 151.03M
PTX PRESCIENT THERAPEUTICS LTD 0.09 71.53 29.18M
BID BIDENERGY LTD 0.67 71.33 86.18M
HLA HEALTHIA LTD 1.02 71.19 64.30M
AHZ ADMEDUS LTD 0.09 70.98 53.17M
GGX GAS2GRID LTD 0.01 70.53 7.54M
ZNO ZOONO GROUP LTD 0.27 70.4 40.83M
UWL UNITI GROUP LTD 1.79 70.23 464.92M
SKY SKY METALS LTD 0.11 70.16 25.47M
SM8 SMART MARINE SYSTEMS LTD 0.05 70.13 15.70M

 

Running Cold

Another non-bank lender’s financials, specifically Prospa (ASX:PGL), was not as well received. It cut revenue and earnings forecasts by $13m and $7.3m respectively.

Regional Express (ASX:REX) also cut its earnings forecasts, by 30 per cent, and it too has been running cold.

Also on the list was child tracking app Life360 (ASX:360), retailer Myer (ASX:MYR) and (surprisingly considering its solid run earlier in 2019) lithium miner Liontown Resources (ASX:LTR).

Code Name Price 2 Week RSI Market Cap
ISD ISENTIA GROUP LTD 0.29 29.87 58.00M
YOJ YOJEE LTD 0.06 29.72 52.54M
360 LIFE360 INC-CDI 2.99 29.7 432.26M
SWK SWICK MINING SERVICES LTD 0.19 29.56 56.40M
LTR LIONTOWN RESOURCES LTD 0.08 29.36 138.54M
GID GI DYNAMICS INC-CDI 0.02 29.28 29.22M
MNS MAGNIS ENERGY TECHNOLOGIES L 0.11 29.17 65.42M
VR8 VANADIUM RESOURCES LTD 0.04 29.1 13.10M
MOY MILLENNIUM MINERALS LTD 0.05 29.09 45.46M
SW1 SWIFT MEDIA LTD 0.11 29.09 20.44M
SRO SHAREROOT LTD 0.001 29.01 2.96M
LSH LIFESPOT HEALTH LTD 0.04 28.92 3.18M
MLL MALI LITHIUM LTD 0.07 28.68 22.21M
GSM GOLDEN STATE MINING LTD 0.06 28.61 2.20M
DTS DRAGONTAIL SYSTEMS LTD 0.1 28.59 24.89M
CLI CROPLOGIC LTD 0.03 28.41 12.91M
MYR MYER HOLDINGS LTD 0.51 28.24 414.75M
ECG ECARGO HOLDINGS LTD 0.03 27.63 18.46M
CY5 CYGNUS GOLD LTD 0.03 27.56 2.00M
B2Y BOUNTY MINING LTD 0.04 27.34 15.41M
2BE TUBI PTY LTD 0.13 27.3 30.39M
KSN KINGSTON RESOURCES LTD 0.13 27.08 22.96M
REX REGIONAL EXPRESS HOLDINGS LT 1.14 27.04 136.59M
AC8 AUSCANN GROUP HOLDINGS LTD 0.23 26.91 71.34M
MX1 MICRO-X LTD 0.22 26.88 36.30M
KMT KOPORE METALS LTD 0.003 26.8 1.93M
AZS AZURE MINERALS LTD 0.1 26.73 16.22M
G88 GOLDEN MILE RESOURCES LTD 0.05 26.24 3.21M
TIG TIGERS REALM COAL LTD 0.02 25.91 30.46M
SHO SPORTSHERO LTD 0.04 25.35 13.13M
BIQ BUILDINGIQ INC-CDI 0.01 25.27 4.79M
TGO TRIMANTIUM GROWTHOPS LTD 0.1 25.05 14.59M
RMT RMA ENERGY LTD 0.001 25 2.10M
CSE COPPER STRIKE LTD 0.03 24.84 3.53M
CXM CENTREX METALS LTD 0.04 24.33 13.57M
MCT METALICITY LTD 0.004 23.84 2.89M
ACB A-CAP ENERGY LTD 0.01 23.41 8.72M
BMG BMG RESOURCES LTD 0.003 23.39 1.73M
LAA LATAM AUTOS LTD 0.03 23.37 19.94M
IVX INVION LTD 0.01 23.04 49.51M
TBR TRIBUNE RESOURCES LTD 6.56 21.02 364.10M
BEL BENTLEY CAPITAL LTD 0.04 20.53 6.47M
KAS KASBAH RESOURCES LTD 0.02 17.98 2.66M
MHI MERCHANT HOUSE INTL LTD 0.05 16.88 4.90M
CAN CANN GROUP LTD 0.8 16.87 111.37M
KSC K & S CORP LTD 1.57 16.73 199.83M
ERG ENECO REFRESH LTD 0.06 16.72 16.07M
TAM TANAMI GOLD NL 0.04 14.44 41.13M
HRR HERON RESOURCES LTD 0.12 11.26 49.30M
PGL PROSPA GROUP LTD 2.28 10.91 338.84M
8EC 8IP EMERGING COS LTD 0.06 7.55 29.33M