Each Monday, Stockhead recaps the stocks most heavily in demand by investors.

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.

Running Hot

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, September 18:

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

Code Name Price 2 Week RSI Market Cap
EER EAST ENERGY RESOURCES LTD 0.04 89.94 115.24M
CYC CYCLOPHARM LTD 2.62 88.44 210.32M
PCG PENGANA CAPITAL GROUP LTD 1.45 84.04 149.39M
LKE LAKE RESOURCES NL 0.06 83.52 43.52M
PM8 PENSANA RARE EARTHS PLC-CDI 1.15 82.67 224.99M
ADY ADMIRALTY RESOURCES NL 0.02 82.55 20.86M
RCP REDBANK COPPER LTD 0.07 82.54 28.14M
ADN ANDROMEDA METALS LTD 0.09 81.6 154.49M
ATU ATRUM COAL LTD 0.33 81.45 186.65M
PLL PIEDMONT LITHIUM LTD 0.15 81.09 150.19M
ICI ICANDY INTERACTIVE LTD 0.05 80.67 18.75M
BBX BBX MINERALS LTD 0.55 80.29 168.16M
IPB IPB PETROLEUM LTD 0.02 79.98 5.07M
VYS VYSARN LTD 0.09 79.85 32.50M
MYQ MYFIZIQ LTD 0.89 79.63 102.25M
WJA WAMEJA LTD 0.14 79.59 163.46M
GLL GALILEE ENERGY LTD 0.81 78.85 219.88M
TEM TEMPEST MINERALS LTD 0.05 78.49 11.78M
UUL ULTIMA UNITED LTD 0.32 78.44 9.38M
GRV GREENVALE MINING LTD 0.06 77.17 17.06M
PAK PACIFIC AMERICAN HOLDINGS LT 0.03 77.09 6.93M
KCN KINGSGATE CONSOLIDATED LTD 1.00 77.01 234.14M
CPV CLEARVUE TECHNOLOGIES LTD 0.23 76.81 33.23M
BGT BIO-GENE TECHNOLOGY LTD 0.19 76.78 30.22M
FUN FUNTASTIC LTD 0.06 76.69 14.42M
VLS VITA LIFE SCIENCES LTD 0.97 76.47 52.46M
CGL CITADEL GROUP LTD/THE 5.59 76.28 438.41M
CAD CAENEUS MINERALS LTD 0.02 76.26 54.91M
LTR LIONTOWN RESOURCES LTD 0.20 76.15 327.66M
OIL OPTISCAN IMAGING LTD 0.11 76.15 52.56M
MXI MAXITRANS INDUSTRIES LTD 0.27 76.11 49.97M
GTE GREAT WESTERN EXPLORATION LT 0.30 76.06 34.86M
CRM CARBON MINERALS LTD 0.40 76.02 7.52M
UBN URBANISE.COM LTD 0.09 75.72 67.82M
TNG TNG LTD 0.10 75.26 105.71M
RNE RENU ENERGY LTD 0.03 75.11 5.31M
LBL LASERBOND LTD 0.59 74.94 56.77M
BLU BLUE ENERGY LTD 0.07 74.3 85.05M
CXU CAULDRON ENERGY LTD 0.04 74.08 15.73M
EXP EXPERIENCE CO LTD 0.19 73.95 108.38M
JXT JAXSTA LTD 0.14 73.89 35.84M
TPC TPC CONSOLIDATED LTD 1.55 73.73 17.42M
RSH RESPIRI LTD 0.23 73.7 150.15M
SIO SIMONDS GROUP LTD 0.39 73.43 56.10M
CFE CAPE LAMBERT RESOURCES LTD 0.01 73.38 16.35M
RHY RHYTHM BIOSCIENCES LTD 0.18 73.28 37.28M
GBE GLOBE METALS AND MINING LTD 0.03 73.18 13.51M
CLA CELSIUS RESOURCES LTD 0.03 73.03 25.75M
AVL AUSTRALIAN VANADIUM LTD 0.02 72.43 43.63M
ADD ADAVALE RESOURCES LTD 0.03 72.4 6.16M
TNP TRIPLE ENERGY LTD 0.01 72.36 1.08M
WWI WEST WITS MINING LTD 0.03 72.34 37.92M
DTZ DOTZ NANO LTD 0.31 72.26 98.24M
AHX APIAM ANIMAL HEALTH LTD 0.65 72.21 75.21M
PYC PYC THERAPEUTICS LTD 0.17 72.19 483.71M
FSI FLAGSHIP INVESTMENTS LTD 2.10 72.03 53.56M
ANP ANTISENSE THERAPEUTICS LTD 0.11 72.01 56.23M
FDV FRONTIER DIGITAL VENTURES LT 1.19 71.98 312.34M
PFT PURE FOODS TASMANIA LTD 0.84 71.97 39.71M
3PL 3P LEARNING LTD 1.34 71.76 186.21M
TNY TINYBEANS GROUP PTY LTD 1.15 71.73 52.42M
3DA AMAERO INTERNATIONAL LTD 0.45 71.71 79.07M
LRS LATIN RESOURCES LTD 0.02 71.62 16.30M
ADO ANTEOTECH LTD 0.07 71.37 112.30M
4DX 4DMEDICAL LTD 1.59 71.06 420.97M
AMO AMBERTECH LTD 0.10 70.95 8.03M
VRT VIRTUS HEALTH LTD 3.70 70.8 297.44M
TNR TORIAN RESOURCES LTD 0.02 70.63 14.63M
ROG RED SKY ENERGY LTD 0.003 70.6 6.11M
OXX OCTANEX LTD 0.01 70.58 3.55M
ICT ICOLLEGE LTD 0.08 70.5 40.55M
AQI ALICANTO MINERALS LTD 0.19 70.45 57.56M
KAI KAIROS MINERALS LTD 0.06 70.43 91.74M
PKD PARKD LTD 0.04 70.2 3.08M
IMR IMRICOR MEDICAL SYSTEMS-CDI 2.17 70.19 244.43M
AUL AUSTAR GOLD LTD 0.45 70.09 19.89M
MRC MINERAL COMMODITIES LTD 0.33 70.05 150.18M
WCG WEBCENTRAL GRP LTD 0.17 70.03 20.15M
DYL DEEP YELLOW LTD 0.34 70.01 80.87M

The Running Hot list remains well populated, with 80 small caps posting a 14-day RSI above 70 this week — down slightly from 81 last week.

Topping the list this week was mining minnow East Energy Resources (ASX:EER), which would be no surprise to anyone who tracked the stock’s meteoric rise on Wednesday — a gain of 1,000 per cent on what appeared to be no news.

East Energy wasn’t the only small cap to post an eye-watering rally last week, in what amounted to an unusual few days of trade where plenty of other stocks followed suit. For now, EER shares are in a trading suspension at the request of the company.

Running Cold

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, September 18:

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

Code Name Price 2 Week RSI Market Cap
PNX PNX METALS LTD 0.01 34.87 22.88M
WZR WISR LTD 0.18 34.50 197.00M
IS3 I SYNERGY GROUP LIMITED 0.08 34.40 13.75M
ADX ADX ENERGY LTD 0.005 34.20 8.57M
MAG MAGMATIC RESOURCES LTD 0.20 34.05 32.03M
NUC NUCHEV LTD 1.92 34.02 98.94M
MAU MAGNETIC RESOURCES NL 1.22 34.01 259.29M
AGI AINSWORTH GAME TECHNOLOGY 0.35 34.00 117.88M
GSW GETSWIFT LTD 0.44 33.99 94.88M
CCV CASH CONVERTERS INTL LTD 0.17 33.80 101.71M
BUB BUBS AUSTRALIA LTD 0.79 33.71 480.34M
NVU NANOVEU LTD 0.06 33.67 8.13M
EWC ENERGY WORLD CORP LTD 0.05 33.57 96.96M
ODA ORCODA LTD 0.09 33.46 10.44M
PYG PAYGROUP LTD 0.58 33.44 44.90M
CD3 CORDISH DIXON PRIVATE EQUITY 0.78 32.98 56.18M
ONX ORMINEX LTD 0.03 32.97 16.71M
DME DOME GOLD MINES LTD 0.17 32.90 51.56M
MRG MURRAY RIVER ORGANICS GROUP 0.01 32.68 22.06M
HWK HAWKSTONE MINING LTD 0.01 32.58 17.08M
BRL BATHURST RESOURCES LTD 0.04 32.17 68.38M
REG REGIS HEALTHCARE LTD 1.12 31.80 341.35M
VOR VORTIV LTD 0.19 31.58 26.50M
FZR FITZROY RIVER CORP LTD 0.12 31.35 10.36M
FOD FOOD REVOLUTION GROUP LTD 0.04 30.27 28.26M
PEK PEAK RESOURCES LTD 0.03 30.23 40.92M
GMV G MEDICAL INNOVATION HOLDING 0.03 29.11 28.52M
PAA PHARMAUST LTD 0.12 27.37 37.90M
XTE XTEK LTD 0.62 26.65 42.03M
DXB DIMERIX LTD 0.24 26.28 47.46M
JHC JAPARA HEALTHCARE LTD 0.38 25.78 100.22M
EGY ENERGY TECHNOLOGIES LTD 0.08 25.30 11.71M
KSL KINA SECURITIES LTD 0.80 23.53 138.92M
QPR QUATTRO PLUS REAL ESTATE 0.70 20.85 56.24M
QIP QANTM INTELLECTUAL PROPERTY 0.98 20.41 131.61M
CWL CONSOLIDATED FINANCIAL HOLDINGS 0.02 15.76 2.41M
KPE KINA PETROLEUM CORP 0.91 14.33 11.66M

As a broader sentiment indicator, the Running Cold list is leaning decidedly bullish, with just 11 ASX small caps registering a 14-day RSI below 30.

As a result, Stockhead’s data team expanded this week’s list to include all stocks with an RSI below 35, which increased the number of companies on the list to 37.

Among the notable companies on the list were infant formula maker Bubs Australia (ASX:BUB), which in late-August flagged plans for an in-house China production strategy amid increased geo-political risk.