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

There were some new names up the top of this week’s list, including water treatment company Waterco (ASX:WAT) which heated up with a reading of 83.51.

Waterco, which has been listed on the ASX since 1989, provides treatment solutions for different environments including private swimming pools through to industrial applications.

2019 has been a topsy turvy year for the company, which fell from around $2.40 in April and slumped sharply again in April before regaining momentum. Aside from a series of daily share buybacks, the stock has had no news in recent weeks but continues to push back towards January highs.

Takeover target Konekt (ASX:KKT) topped this week’s list, after receiving a new and improved all-cash offer from suitor Advanced Personnel Management International, this time valuing the workplace health solutions platform at 64c per share.

And despite the well-documented structural headwinds facing Australia’s retail sector, one listed player in the space has bucked the trend.

Shares in discount retailer The Reject Shop (ASX:TRS) have climbed steadily in recent weeks, and are now up by around 40 per cent from September lows.

The stock gained momentum in the wake of a mid-October trading update, when it said comparable same-store sales growth was up 0.3 per cent in FY20, a turnaround from -2.5 per cent in the second half of the 2019 financial year.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 8:

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

Code Name Price ($) 14-day RSI Market Cap
KKT KONEKT LTD 0.63 92.9 67.17M
WAT WATERCO LTD 2.4 83.51 87.78M
TRS The REJECT SHOP LTD 2.69 83.25 77.76M
CSV CSG LTD 0.31 82.98 137.02M
QMS QMS MEDIA LTD 1.22 82.84 420.58M
EGA EGAN STREET RESOURCES LTD 0.5 81.97 69.82M
OSL ONCOSIL MEDICAL LTD 0.18 78.82 113.53M
PAN PANORAMIC RESOURCES LTD 0.43 77.96 281.32M
CT1 CCP TECHNOLOGIES LTD 0.02 77.91 14.55M
NHL NOVITA HEALTHCARE LTD 0.1 76.23 63.63M
IKW IKWEZI MINING LTD 0 75.65 8.13M
NVO NVOI LTD 0.02 75.11 24.62M
OCL OBJECTIVE CORPORATION LTD 4.7 74.51 437.00M
EEG EMPIRE ENERGY GROUP LTD 0.49 74.34 112.19M
COO CORUM GROUP LTD 0.05 73.82 13.58M
KGD KULA GOLD LTD 0.03 73.7 1.88M
MCX MARINER CORP LTD 0.06 73.4 892.98k
CL1 CLASS LTD 1.92 73.28 225.91M
RIC RIDLEY CORP LTD 1.16 72.91 361.06M
EGH EUREKA GROUP HOLDINGS LTD 0.33 72.85 75.91M
VHT VOLPARA HEALTH TECHNOLOGIES 1.92 72.55 419.77M
WBT WEEBIT NANO LTD 0.45 72.44 32.37M
SVM SOVEREIGN METALS LTD 0.11 72.41 39.52M
SIO SIMONDS GROUP LTD 0.43 72.15 61.85M
APV APPSVILLAGE AUSTRALIA LTD 0.21 72.14 14.00M
AV1 ADVERITAS LTD 0.18 72.03 33.77M
AGY ARGOSY MINERALS LTD 0.08 71.1 83.44M
INV INVESTSMART GROUP LTD 0.13 71 17.10M
RKN RECKON LTD 0.87 70.99 98.57M
NUS NUSANTARA RESOURCES LTD 0.34 70.83 57.27M
BTH BIGTINCAN HOLDINGS LTD 0.68 70.54 208.02M
MNC METMINCO LTD 0.1 70.48 16.15M
TLX TELIX PHARMACEUTICALS LTD 1.78 70.43 450.84M
UCW UCW LTD 0.24 70.38 28.20M
ICS ICSGLOBAL LTD 1.53 70.1 16.31M

 

Running Cold

The stocks that were running cold for the two weeks ended Friday, November 8:

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