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 was a new leader on this week’s list, as National Veterinary Care (ASX:NVL) shot to the top with an RSI of 89.7 on the back of a $3.70-per-share takeover offer from VetPartners.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, December 20:

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

Code Name Price 2 Week RSI Market Cap
NVL NATIONAL VETERINARY CARE LTD 3.6 89.7 241.71M
BRI BIG RIVER INDUSTRIES LTD 1.45 87.45 90.58M
AZM AZUMAH RESOURCES LTD 0.03 82.63 33.27M
QTM QUANTUM HEALTH GROUP LTD 0.04 82.55 45.13M
TRS THE REJECT SHOP LTD 3.07 81.41 88.75M
BFG BELL FINANCIAL GROUP LTD 1.2 79.66 384.89M
AML AEON METALS LTD 0.17 79.52 114.59M
MAG MAGMATIC RESOURCES LTD 0.22 79.2 34.92M
MRQ MRG METALS LTD 0.02 78.62 19.46M
EAI ELLERSTON ASIAN INVESTMENTS 1.05 77.3 149.92M
CG1 CARBONXT GROUP LTD 0.51 76.86 54.37M
SLM SALMAT LTD 0.81 76.55 161.73M
GFL GLOBAL MASTERS FUND LTD 2.12 76.44 21.12M
AFR AFRICAN ENERGY RESOURCES-CDI 0.02 75.89 11.21M
CGR CML GROUP LTD 0.56 75.39 121.84M
MHI MERCHANT HOUSE INTL LTD 0.12 74.76 10.84M
NWE NORWEST ENERGY NL 0.01 74.45 28.31M
WGN WAGNERS HOLDING CO LTD 2.59 73.98 484.84M
WGB WAM GLOBAL LTD 2.32 73.97 487.25M
HIT HITECH GROUP AUSTRALIA LTD 1.24 73.13 47.18M
BID BIDENERGY LTD 0.82 72.99 104.79M
CGL THE CITADEL GROUP LTD 4.51 72.74 222.37M
FSA FSA GROUP LTD 1.32 72.7 165.12M
APD APN PROPERTY GROUP LTD 0.62 71.83 197.17M
ADA ADACEL TECHNOLOGIES LTD 0.61 71.51 46.51M
SGLLV RICEGROWERS LIMITED 4.4 71.16 262.77M
IRD IRON ROAD LTD 0.06 70.98 43.70M
CRM CARBON MINERALS LTD 0.18 70.91 3.38M
PAL PALLA PHARMA LTD 1.03 70.9 129.73M
GVF GLOBAL VALUE FUND LTD 1.11 70.88 162.80M
CHN CHALICE GOLD MINES LTD 0.22 70.77 60.29M
PAI PLATINUM ASIA INVESTMENTS LTD 1.09 70.69 375.72M
RPM RPM AUTOMOTIVE GROUP LTD 0.18 70.57 16.10M
VRT VIRTUS HEALTH LTD 4.77 70.56 383.45M
OLH OLDFIELDS HOLDINGS LTD 0.09 70.39 7.40M
EGH EUREKA GROUP HOLDINGS LTD 0.37 70.09 83.96M

 

Running Cold

After climbing steadily for a number of weeks, the number of stocks on the Running Cold list fell back to 57 from last week’s new high of 82.

Small business lender Prospa (ASX:PGL) continues to languish at the cooler end of the list, where it’s been since issuing a trading update on November 18 in which the company said revenue was unlikely to match its prospectus forecasts.

This week it was propping up the tail with an RSI reading of just 14.67, as the share price fell to a new low of $1.65.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, December 20:

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