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 |