Singapore-based Asian American Medical Group (ASX:AAJ) was among the small cap names that ran red hot this week.

Stockhead’s Hot Money Monday 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 look-out for opportunities where the price action has separated from fundamentals.
 

Running Hot

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, April 9:

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

Code Company Price RSI MktCap$
AJJ Asian American Medical 0.065 91 $ 22,603,929
AIR Astivita Ltd 1.00 86 $ 19,019,357
OXX Octanex Ltd 0.029 85 $ 7,041,891
CPN Caspin Resources 0.91 85 $ 49,859,695
TNK Think Childcare 3.09 85 $ 188,172,193
PVE Po Valley Energy Ltd 0.04 84 $ 25,891,444
IMU Imugene Limited 0.175 83 $ 762,507,926
SVS Sunvest Corporation 0.45 81 $ 5,471,561
MFD Mayfield Childcr Ltd 1.12 81 $ 35,148,795
RPM RPM Automotive Group 0.4 80 $ 47,221,112
FSG Field Solu Hldgs Ltd 0.125 80 $ 62,530,021
JRL Jindalee Resources 2.35 79 $ 94,399,297
DEV Devex Resources Ltd 0.3 78 $ 72,076,729
EM2 Eagle Mountain 0.815 77 $ 149,358,785
WWG Wisewaygroupltd 0.42 76 $ 55,370,226
RTR Rumble Res Limited 0.145 75 $ 74,507,164
NWC New World Resources 10 75 $ 142,460,238
SCI Silver City Minerals 0.032 74 $ 13,646,087
CWZ Cashwerkz Limited 0.4 74 $ 83,927,588
JAY Jayride Group 0.24 73 $ 29,460,558
EMD Emyria Limited 0.23 73 $ 26,338,820
KRR King River Resources 0.041 72 $ 62,140,998
SE1 Sensera Ltd 0.086 71 $ 25,230,458
UBI Universal Biosensors 0.625 71 $ 84,328,825
MSI Multistack Internat. 0.053 70 $ 4,604,461
RCE Recce Pharmaceutical 1.15 70 $ 202,451,192

In terms of recent news flow, Asian American Medical Group announced on Wednesday that it will partner with London’s King’s College Hospital to set up in dedicated treatment centre for liver disease in China’s Hainan province.

Shares in the company rose by around 20 per cent on Thursday, and while trading volumes have been low AAJ shares popped up on this week’s Hot Money list with a 14-day RSI reading of 91.

Astivita (ASX:AIR), which manufactures a brand of zinc-based sunscreen and is chaired by colourful ASX investor Lev Mizikovsky, also ran hot with a 14-day RSI of 86.

The company has had no news since the release of its half-year accounts in late February.

Elsewhere, among the usual round of resources stocks, two childcare companies made an appearance on the Hot Money list.

Mayfield Childcare (ASX:MFD) with an RSI of 81, and Think Childcare (ASX:TNK) with an RSI of 85 on the back of some takeover activity after Busy Bees Early Learning Australia Pty Ltd lobbed an indicative, non-binding offer to buy the business.

TNK has been in the sights of a number of suitors, including private equity firm Alceon which made a $1.35 per share bid last November.

The company was right to bide its time, with the latest offer from Busy Bees coming in at $3.20 — a 137 per cent premium.
 

Running Cold

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, April 9:

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

Code Company Price RSI MktCap$
GGG Greenland Minerals 0.105 31 $ 119,398,159
GBE Globe Metals &Mining 0.035 30 $ 16,307,283
XST Xstate Resources 0.0055 29 $ 13,447,938
BCT Bluechiip Limited 0.031 29 $ 20,327,937
BMG BMG Resources Ltd 0.054 29 $ 13,199,541
MXR Maximus Resources 0.089 29 $ 10,842,285
RTE Retech Tech Co., Ltd 0.24 28 $ 55,899,032
TIA Tian An Aust Limited 0.28 25 $ 24,250,472
N1H N1 Holdings Ltd 0.075 24 $ 6,116,668
MOB Mobilicom Ltd 0.055 24 $ 14,186,519
ECG Ecargo Hldg 0.026 23 $ 15,996,500
BBX BBX Minerals Ltd 0.185 22 $ 82,471,563
CSX Cleanspace Holdings 2.01 21 $ 154,809,241
SGC Sacgasco Ltd 0.031 15 $ 15,266,967
ATU Atrum Coal Ltd 0.068 11 $ 40,153,284
AAP Australian Agri Ltd 0.017 10 $ 5,180,185
FNX Finexia Financialgrp 0.08 9 $ 12,286,921
FNP Freedom Food Ltd 0.465 4 $ 127,470,287