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

As market-watchers would know, the debate around overpriced tech stocks has ramped up in recent weeks, amid concern in some quarters about high valuations (relative to earnings) and a high-profile short-seller report against WiseTech Global.

But that hasn’t stopped another software company, Class Ltd (ASX:CL1), jumping to the top of this week’s hot-money table after a steady run-up in its share price.

Class, which provides cloud-software solutions to streamline accounting and administration tasks (with a key focus on Self-Managed Super Funds), hasn’t had much news lately.

Despite that, the stock has found steady demand to rise from around $1.20 in early September to almost $2. That’s a new 2019 high, although Class remains off levels above $3 it reached in early 2018.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 1:

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

Code Name Price ($) 14-day RSI Market Cap
CL1 CLASS LTD 1.96 86.33 230.62M
QMS QMS MEDIA LTD 1.23 85.25 422.30M
MRD MOUNT RIDLEY MINES LTD 0.0015 84.65 5.37M
NHL NOVITA HEALTHCARE LTD 0.06 84.01 37.66M
CSV CSG LTD 0.31 82.98 137.02M
KKT KONEKT LTD 0.5 82.84 53.42M
LBT LBT INNOVATIONS LTD 0.2 82.7 48.24M
TRS REJECT SHOP LTD/THE 2.45 81.63 70.82M
CCV CASH CONVERTERS INTL LTD 0.24 81.23 147.95M
CEL CHALLENGER EXPLORATION LTD 0.07 80.46 32.38M
MAG MAGMATIC RESOURCES LTD 0.15 79.57 20.41M
RYD RYDER CAPITAL LTD 1.52 78.72 75.42M
TNY TINYBEANS GROUP PTY LTD 3.2 78.58 121.75M
INR IONEER LTD 0.25 78.4 376.76M
EGI ELLERSTON GLOBAL INVESTMENTS 1.01 77.6 104.60M
SOM SOMNOMED LTD 2.82 77.21 177.11M
EEG EMPIRE ENERGY GROUP LTD 0.38 77.1 89.05M
BRI BIG RIVER INDUSTRIES LTD 1.27 76.71 79.34M
FOD FOOD REVOLUTION GROUP LTD 0.09 76.26 63.77M
TDL TBG DIAGNOSTICS LTD 0.05 76.24 10.88M
RBL REDBUBBLE LTD 1.93 76.08 499.40M
ICS ICSGLOBAL LTD 1.55 75.58 16.47M
BTH BIGTINCAN HOLDINGS LTD 0.67 75.32 203.43M
TPW TEMPLE & WEBSTER GROUP LTD 2.29 75.32 259.74M
AZM AZUMAH RESOURCES LTD 0.03 74.61 32.29M
GSN GREAT SOUTHERN MINING LTD 0.07 74.52 24.55M
VHT VOLPARA HEALTH TECHNOLOGIES 1.85 74.34 403.42M
SMN STRUCTURAL MONITORING-CDI 1.1 73.93 127.27M
FWD FLEETWOOD CORP LTD 2.24 73.03 211.93M
DLC DELECTA LTD 0.01 72.28 5.57M
SPT SPLITIT PAYMENTS LTD 0.98 72.27 301.38M
ITW ISHARES MSCI TAIWAN ETF 58.25 71.63 4.82M
MIL MILLENNIUM SERVICES GROUP 0.36 71.29 16.53M
CT1 CCP TECHNOLOGIES LTD 0.01 70.95 11.56M
OPC OPTICOMM LTD 3.98 70.25 414.22M
MCX MARINER CORP LTD 0.06 70.24 824.28k

 

Running Cold

While we’ve noted the prevalence of pot stocks in this list over recent weeks, a bout of investor indifference towards the cannabis sector appears to be becoming more of an established trend.

The data showed a number of cannabis stocks were propping up this week’s cold-money list, including Althea Group (ASX:AGH), which continues to struggle after news that cornerstone Canadian investor Aphria was selling its stake in the company.

Other pot stocks that were languishing at the tail-end of the list included Creso Pharma (ASX:CPH), Cann Group (ASX:CAN), Elixinol Global (ASX:EXL) and Botanix Pharmaceuticals (ASX:BOT).

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, November 1:

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

Code Name Price ($) 14-day RSI Market Cap
FUN FUNTASTIC LTD 0.03 29.87 5.83M
TAR TARUGA MINERALS LTD 0.01 29.58 1.84M
EQX EQUATORIAL RESOURCES LTD 0.25 29.58 31.73M
TAM TANAMI GOLD NL 0.04 29.53 49.35M
AGH ALTHEA GROUP HOLDINGS LTD 0.42 29.47 97.99M
RVS REVASUM INC-CDI 0.78 29.32 60.38M
CY5 CYGNUS GOLD LTD 0.04 29.22 2.12M
ARC AUSTRALIAN RURAL CAPITAL LTD 0.32 28.61 4.00M
GO2 GO2 PEOPLE LTD/THE 0.02 28.49 2.24M
IHL IMPRESSION HEALTHCARE LTD 0.07 28.42 46.03M
AOP APOLLO CONSOLIDATED LTD 0.21 28.39 46.51M
CGB CANN GLOBAL LTD 0.02 28.3 64.01M
MWR MGM WIRELESS LTD 3.25 28.18 45.93M
BEL BENTLEY CAPITAL LTD 0.05 27.91 6.47M
BOT BOTANIX PHARMACEUTICALS LTD 0.12 27.62 110.92M
AJX ALEXIUM INTERNATIONAL GROUP 0.09 27.44 33.13M
BUX BUXTON RESOURCES LTD 0.06 27.38 8.84M
MOY MILLENNIUM MINERALS LTD 0.05 27.17 49.03M
BIQ BUILDINGIQ INC-CDI 0.02 27.05 5.75M
LIT LITHIUM AUSTRALIA NL 0.03 25.86 18.17M
NXS NEXT SCIENCE LTD 2.12 25.67 379.94M
WWG WISEWAY GROUP LTD 0.13 25.45 18.24M
MDC MEDLAB CLINICAL LTD 0.37 25.44 78.61M
CSE COPPER STRIKE LTD 0.03 24.84 3.53M
TIG TIGERS REALM COAL LTD 0.02 24.82 34.04M
MNS MAGNIS ENERGY TECHNOLOGIES L 0.12 24.44 70.82M
STN SATURN METALS LTD 0.34 24.38 24.52M
TMG TRIGG MINING LTD 0.09 24.17 4.93M
LHB LIONHUB GROUP LTD 0.003 24.08 2.48M
SWK SWICK MINING SERVICES LTD 0.19 23.99 53.51M
CAN CANN GROUP LTD 1.01 23.43 143.29M
EXL ELIXINOL GLOBAL LTD 1.5 23.13 206.84M
LVE LOVE GROUP GLOBAL LTD 0.05 20.14 2.11M
KSC K & S CORP LTD 1.6 19.1 203.65M
ESE ESENSE-LAB LTD-CDI 0.01 18.76 2.28M
2BE TUBI PTY LTD 0.12 17.38 29.18M
CPH CRESO PHARMA LTD 0.2 17.24 30.31M
KAS KASBAH RESOURCES LTD 0.02 15.83 2.80M
HRR HERON RESOURCES LTD 0.14 15.76 54.67M
SST STEAMSHIPS TRADING COMPANY 13 15.62 403.11M
MHI MERCHANT HOUSE INTL LTD 0.06 13.84 5.66M
8EC 8IP EMERGING COS LTD 0.07 6.85 29.33M