Each Monday, Stockhead recaps the stocks that are running hot with 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, November 6:

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

Code Company Price RSI MktCap$
BIR BIR Financial Ltd 0.06 99 $ 4,875,022
XPL Xplorewlth Limited 0.19 92 $ 56,531,886
UUL Ultima Utd Ltd 0.57 92 $ 16,715,677
CSX Cleanspace Holdings 7.04 89 $ 539,136,661
EAS Easton Investments 1.15 89 $ 39,421,392
CXU Cauldron Energy Ltd 0.061 86 $ 22,024,231
SFM Santa Fe Minerals 0.11 86 $ 8,010,067
PNC Pioneer Credit Ltd 0.68 85 $ 42,861,745
KSS Kleos 0.735 84 $ 92,767,726
FFG Fatfish Group 0.039 83 $ 29,353,759
VRX VRX Silica Ltd 0.195 82 $ 84,569,233
ICQ Icar Asia Ltd 0.425 82 $ 142,364,655
E2M E2 Metals 0.725 80 $ 94,464,134
KIS King Island 0.098 76 $ 24,617,974
AHF Aust Dairy Group 0.086 76 $ 29,718,915
MSG Mcs Services Limited 0.03 75 $ 5,215,688
CNJ Conico Ltd 0.032 74 $ 17,642,871
SPQ Superior Resources 0.021 72 $ 22,002,568
CGS Cogstate Ltd 1.15 72 $ 190,536,264
4DS 4Ds Memory Limited 0.095 71 $ 137,517,816
FUN Funtastic Limited 0.12 70 $ 30,050,509
ICI Icandy Interactive 0.15 69 $ 78,663,326
AMO Ambertech Limited 0.18 63 $ 13,761,899

A total of 20 small caps popped up on our list of stocks with a two-week RSI reading above 70.

But two stocks stood out with red-hot readings — Anax Metals (ASX:ANX) and Force Com Ltd (ASX:4CE).

For Anax, those gains were cramped into a furious Friday session when the stock — formerly known as Aurora Minerals — re-listed on the ASX and promptly surged higher.

The company joined the ASX boards with a new constitution and a fresh $2m capital raise, and announced plans to acquire up to 80 per cent of the Whim Creek Copper-Zinc Project from VentureX Resources (ASX:VXR).

It’s also on the hunt for gold in exploration ground next door to De Grey’s (ASX:DEG) Mallina project.

4CE also jumped on a reinstatement, after announcing it had acquired a copper project in Oman from London Stock Exchange-listed Savannah Resources (AIM:SAV) in a cash and share deal.

Fintech platform DigitalX (ASX:DCC), which has operations in blockchain consulting and funds management, also made an appearance on the Hot Money list following a strong surge in the Bitcoin price.

The company’s latest 4C filing showed it also held 215.95 BTC in a digital wallet.

As at 30 September, the asset was valued at $3.25m but following the latest crypto surge, the value of those holdings would now be in excess of $4.6m.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, November 6:

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

Code Company Price RSI MktCap$
ISD Isentia Group Ltd 0.125 21 $ 24,000,000.12
TEG Triangle Energy Ltd 0.023 27 $ 12,979,600.07
AQD Ausquest Limited 0.019 22 $ 12,869,320.94
OEX Oilex Ltd 0.0015 21 $ 6,179,445.00
PCH Property Connect 0.0015 30 $ 1,028,795.21
AEI Aeris Environmental 0.45 29 $ 109,145,465.55
SKN Skin Elements Ltd 0.022 19 $ 7,492,655.54
ATH Alterity Therap Ltd 0.028 21 $ 36,618,886.05
WKT Walkabout Resources 0.13 30 $ 45,387,373.85
PSC Prospect Res Ltd 0.105 30 $ 34,869,488.96
WEL Winchester Energy 0.022 26 $ 15,867,689.60
EOF Ecofibre Limited 1.64 25 $ 243,312,493.05
BCT Bluechiip Limited 0.042 29 $ 24,908,001.17
TGO Trimantium Growthops 0.036 27 $ 5,470,012.73
KAI Kairos Minerals Ltd 0.043 28 $ 65,339,608.46
KFE Kogi Iron Ltd 0.021 28 $ 17,039,785.97
MPH Mediland Pharm 0.089 16 $ 27,835,961.29
NUC Nuchev Limited 1.31 21 $ 46,650,917.07
ECG Ecargo Hldg 0.018 27 $ 11,074,500.00