Each Monday, Stockhead recaps which stocks are heavily demanded by investors – or running hot.

Stockhead uses 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 the first edition of Hot Money, which includes a more detailed description of what the RSI does and how it’s used.

Here is this week’s list:

Running Hot:

The ‘hottest’ stock was gold explorer Spectrum Metals (ASX: SPX) which continues to find gold at Penny North. A $7 million capital raise on Thursday halted its growth.

One notable buyer in the last fortnight was prominent mining investor Anthony Barton.

The next two show what a takeover bid or long overdue clean-out of the board can do for a share price. Second is Pacific Energy (ASX: PEA) which has announced that QIC Capital wanted to acquire it.

Also, lower on the list are fellow takeover targets GBST Holdings (ASX: GBT) and Cynata Therapeutics (ASX: CYP).

Third on the ‘running hot’ list is toy retailer Funtastic (ASX: FUN). Chairman Shane Tanner quit after serving on the board for 10 years. He will be replaced by World Retail Congress advisory board member Bernie Brookes AM.

While it has been a few weeks since Toy Story 4 was released, perhaps it’s also having the knock-on effect it hoped for.

PointsBet (ASX: PBH) ran hot as it announced a plan to build its own casino in Colorado and a roll out in five other US states.

YPB Group (ASX: YPB) announced it had dished out 100 million Protect Codes and reduced its cash burn. But a $1.6 million capital raise announced on Friday sent it down 25 per cent.

Strong results at a gas well belonging to Strike Energy (ASX: STX) and Warrego Energy (ASX: WGO) put both stocks on our ‘hot money’ list.

Code Name Price (1pm Friday) 14 Day RSI Market Cap
SPX SPECTRUM METALS LTD 0.08 92.23 108.75M
PEA PACIFIC ENERGY LTD 0.98 88.95 419.34M
FUN FUNTASTIC LTD 0.07 83.46 15.62M
YPB YPB GROUP LTD 0.009 83.31 11.00M
WGO WARREGO ENERGY LTD 0.18 83.16 106.26M
DN8 DREAMSCAPE NETWORKS LTD 0.26 82.43 103.26M
MCP MCPHERSON'S LTD 1.82 81.64 196.93M
CYP CYNATA THERAPEUTICS LTD 1.79 81.07 183.39M
WLL WELLCOM GROUP LTD 6.8 80.96 268.71M
ARS ALT RESOURCES LTD 0.03 80.03 12.28M
MDC MEDLAB CLINICAL LTD 0.47 79.89 100.14M
KOV KORVEST LTD 3.45 79.62 38.77M
HLA HEALTHIA LTD 1.06 79.51 66.82M
AGY ARGOSY MINERALS LTD 0.12 78.86 131.89M
GBT GBST HOLDINGS LTD 3.88 78.37 264.18M
LYL LYCOPODIUM LTD 6.09 78.01 240.38M
GLL GALILEE ENERGY LTD 1.1 77.45 248.25M
TML TIMAH RESOURCES LTD 0.06 77.32 5.82M
RXL ROX RESOURCES LTD 0.02 77.3 28.41M
IP1 INTEGRATED PAYMENT TECHNOLOG 0.04 76.69 11.43M
STX STRIKE ENERGY LTD 0.13 76.52 186.04M
CHR CHALMERS LTD 7.1 76.18 54.06M
SOR STRATEGIC ELEMENTS LTD 0.06 75.2 13.85M
DRO DRONESHIELD LTD 0.3 74.77 58.01M
CXZ CONNEXION TELEMATICS LTD 0.02 74.1 19.55M
IMU IMUGENE LTD 0.02 73.84 86.64M
PAA PHARMAUST LTD 0.08 73.57 22.98M
RMC RESIMAC GROUP LTD 0.75 73.46 312.46M
PSZ PS&C LTD 0.08 73.45 19.26M
AFG AUSTRALIAN FINANCE GROUP LTD 1.94 73.2 416.74M
PBH POINTSBET HOLDINGS LTD 3.32 73.09 372.90M
RZI RAIZ INVEST LTD 0.78 73.04 49.67M
EGH EUREKA GROUP HOLDINGS LTD 0.29 73.03 66.71M
AHQ ALLEGIANCE COAL LTD 0.15 72.99 81.85M
KAR KAROON ENERGY LTD 1.51 72.83 389.38M
CGN CRATER GOLD MINING LTD 0.02 72.83 27.00M
MSG MCS SERVICES LTD 0.02 72.77 3.94M
NVL NATIONAL VETERINARY CARE LTD 2.48 72.74 166.16M
TLM TALISMAN MINING LTD 0.09 72.61 16.90M
PTX PRESCIENT THERAPEUTICS LTD 0.05 72.58 20.50M
VMC VENUS METALS CORP LTD 0.25 72.4 27.18M
BET BETMAKERS TECHNOLOGY GROUP L 0.07 72.35 28.53M
KZR KALAMAZOO RESOURCES LIMITED 0.27 72.23 27.36M
NWE NORWEST ENERGY NL 0.003 72.13 13.53M
SKY SKY METALS LTD 0.06 71.79 16.28M
ABA AUSWIDE BANK LTD 5.51 71.72 232.85M
AGS ALLIANCE RESOURCES LTD 0.1 71.58 16.07M
RBL REDBUBBLE LTD 1.35 71.12 338.13M
TPC TPC CONSOLIDATED LTD 0.85 71.08 9.55M
VRT VIRTUS HEALTH LTD 5.18 71.08 415.61M
RED RED 5 LTD 0.28 71.06 323.53M
BDA BOD AUSTRALIA LTD 0.61 70.97 51.40M
ETE ENTEK ENERGY LTD 0.01 70.78 4.90M
CLX CTI LOGISTICS LTD 0.98 70.74 76.55M
BPL BROKEN HILL PROSPECTING LTD 0.03 70.56 5.18M
BDC BARDOC GOLD LTD 0.08 70.4 99.33M
PYC PHYLOGICA LTD 0.03 70.37 81.84M
CLI CROPLOGIC LTD 0.08 70.09 29.55M
NEU NEUREN PHARMACEUTICALS LTD 1.5 70.08 156.82M
KCN KINGSGATE CONSOLIDATED LTD 0.34 70.07 73.52M
SNL SUPPLY NETWORK LTD 4.02 70.01 163.86M

Running Cold:

Embattled investment company Lionhub (ASX: LHB) had the lowest RSI. Last week, its quarterly revealed its only revenue was from the issue of convertible notes and has only $25,000 left in the bank.

A curious spotting was scaffold lessor Oldfields Holdings (ASX: OLH) which is present despite surging 60 per cent on Friday for no apparent reason.

Code Name Price (1pm Friday) 14 Day RSI Market Cap
ARQ ARQ GROUP LTD 0.65 29.79 81.22M
BID BIDENERGY LTD 0.59 29.76 67.27M
PRZ PARAZERO LTD 0.06 29.75 7.61M
KNL KIBARAN RESOURCES LTD 0.1 29.44 29.26M
AON APOLLO MINERALS LTD 0.04 29.31 6.39M
CPH CRESO PHARMA LTD 0.38 29.13 55.31M
INP INCENTIAPAY LTD 0.03 28.91 8.01M
CMD CASSIUS MINING LTD 0.013 28.89 3.40M
RFX REDFLOW LTD 0.03 28.86 28.33M
TTL TRANSCENDENCE TECHNOLOGIES 0.009 28.79 1.56M
CAP CARPENTARIA RESOURCES LTD 0.05 28.66 11.83M
EMU EMU NL 0.03 28.34 5.37M
AQC AUSTRALIAN PACIFIC COAL LTD 0.38 27.93 19.44M
SGH SLATER & GORDON LTD 1.49 27.92 103.60M
FDM FREEDOM OIL AND GAS LTD 0.014 27.78 16.16M
OBM ORA BANDA MINING LTD 0.22 27.18 102.15M
NMT NEOMETALS LTD 0.19 26.98 103.44M
ENE ENEVIS LTD 0.17 26.97 11.32M
HT8 HARRIS TECHNOLOGY GROUP LTD 0.013 26.64 2.41M
ARC AUSTRALIAN RURAL CAPITAL LTD 0.36 26.48 4.50M
KPE KINA PETROLEUM CORP 1.1 26.39 14.10M
UUL ULTIMA UNITED LTD 0.03 26.19 733.14k
GMV G MEDICAL INNOVATION HOLDING 0.14 26.12 63.70M
IGN IGNITE LTD 0.04 25.11 3.76M
NUH NUHEARA LTD 0.04 24.29 42.49M
OLH OLDFIELDS HOLDINGS LTD 0.05 23.07 2.47M
MHI MERCHANT HOUSE INTL LTD 0.07 20.54 6.88M
N1H N1 HOLDINGS LTD 0.03 17.79 2.45M
LHB LIONHUB GROUP LTD 0.005 16.77 4.13M