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

A little-known stock crept to the top of this week’s list, as junior coal miner Ikwezi Mining (ASX:IKW) logged an RSI reading above 90.

But it’s a bit hard to know what to make of that — the minnow explorer has operations in South Africa and listed on the ASX back in 2011. It subsequently rose to above 15c but has traded at or below 1c since 2013.

Ikwezi released its latest quarterly trading update at the start of November, which showed it booked $2.85m of cash receipts in the three months to September, and had $630k in the bank as at September 30.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 29:

Scroll or swipe to reveal table. Click headings to sort.

Code Name Price 2 Week RSI Market Cap
IKW IKWEZI MINING LTD 0.003 90.83 16.26M
KKT KONEKT LTD 0.71 88.59 75.11M
CSV CSG LTD 0.31 84.81 138.15M
AMT ALLEGRA ORTHOPAEDICS LTD 0.25 84.36 24.89M
RHT RESONANCE HEALTH LTD 0.21 84.09 91.83M
RMY RMA GLOBAL LTD 0.35 80.37 146.15M
APD APN PROPERTY GROUP LTD 0.59 79.21 187.63M
AEF AUSTRALIAN ETHICAL INVT LTD 3.75 78.9 412.50M
ADA ADACEL TECHNOLOGIES LTD 0.61 78.68 46.51M
JAN JANISON EDUCATION GROUP LTD 0.46 78.18 85.33M
QMS QMS MEDIA LTD 1.22 77.57 420.58M
EGH EUREKA GROUP HOLDINGS LTD 0.34 77.22 78.21M
CUP COUNTPLUS LTD 1.18 77.01 135.35M
PWG PRIMEWEST GROUP LTD 1.15 74.75 401.51M
OLH OLDFIELDS HOLDINGS LTD 0.09 74.48 7.31M
CAT CATAPULT GROUP INTERNATIONAL 2.11 74.36 402.79M
BRI BIG RIVER INDUSTRIES LTD 1.3 73.92 81.21M
IGL IVE GROUP LTD 2.21 73.83 324.57M
AEI AERIS ENVIRONMENTAL LTD 0.32 73.83 70.44M
ASH ASHLEY SERVICES GROUP LTD 0.39 73.68 56.15M
MCX MARINER CORP LTD 0.06 73.39 892.98k
SNL SUPPLY NETWORK LTD 4.33 73.05 176.50M
A4N ALPHA HPA LTD 0.19 72.63 120.10M
NSB NEUROSCIENTIFIC BIOPHARMACEUTICALS 0.28 72.11 23.51M
SLM SALMAT LTD 0.68 71.58 134.77M
CYL CATALYST METALS LTD 3 71.56 240.59M
ADJ ADSLOT LTD 0.03 71.24 46.05M
ICS ICSGLOBAL LTD 1.8 70.97 19.09M
CDY CELLMID LTD 0.26 70.72 25.60M
HLA HEALTHIA LTD 1.08 70.19 67.76M
CL1 CLASS LTD 2.3 70.13 267.09M

 

Running Cold

No less than 54 stocks populated this week’s Running Cold list.

Of those, a fairly notable name was bringing up the tail as SME lending platform Prospa (ASX:PGL) fell to an RSI reading of just 13.66.

The stock has slumped by around 50 per cent since it released a negative trading update on November 18, where it said revenues for calendar year 2019 were projected to be around 8 per cent lower than prospectus forecasts.

And the list of pot stocks which continue to find a home on the cold-money list was evidence the sector continues to remain out of favour with investors.

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, November 29:

Scroll or swipe to reveal table. Click headings to sort.