Each Monday, Stockhead recaps the ASX 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 20:

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

Code Company Price RSI MktCap$
OEQ Orion Equities 0.08 96 $ 1,425,151.12
WTL Wt Financial Grp Ltd 0.06 95 $ 10,000,314.00
CMD Cassius Mining Ltd 0.027 92 $ 7,755,652.53
SAN Sagalio Energy Ltd 0.015 86 $ 3,069,901.95
CNB Carnaby Resource Ltd 0.36 85 $ 42,381,143.28
MAN Mandrake Res Ltd 0.095 77 $ 28,474,866.90
CXU Cauldron Energy Ltd 0.033 77 $ 15,679,982.92
ENX Enegex Limited 0.049 77 $ 6,773,329.88
AMO Ambertech Limited 0.16 76 $ 12,997,349.15
KNO Knosys Limited 0.13 75 $ 19,348,624.88
EM2 Eagle Mountain 0.32 75 $ 49,740,119.28
TLX Telix Pharmaceutical 3.25 75 $ 896,486,571.50
HT8 Harris Technology Gl 0.165 73 $ 38,249,322.15
FUN Funtastic Limited 0.093 73 $ 88,807,690.65
DEG De Grey Mining 0.99 73 $ 1,278,415,061.00
MCP McPherson's Ltd 1.93 73 $ 239,393,704.77
MIO Macarthur Minerals 0.44 72 $ 58,943,263.72
PTB PTB Group Limited 66.25 72 $ 86,962,074.72
GME GME Resources Ltd 0.06 71 $ 33,412,015.80
FZR Fitzroy River Corp 0.24 70 $ 20,727,216.24
EMU EMU NL 0.042 70 $ 14,847,228.31
TMZ Thomson Res Ltd 0.079 70 $ 22,066,375.60
IVT Inventis Limited 0.008 70 $ 7,494,926.55

A total of 22 stocks appeared on this week’s list, down from 29 in the week prior.

Tech advertising company engage:BDR (ASX:EN1) led the pack this week with a two-week RSI of 86.

The $12m market cap minnow had a jump in trading volumes on Thursday which saw its stock price tick higher, after announcing it had signed up five new customers for its programmatic advertising platform.

The three leaders from last week’s Running Hot list all fell out of this week’s list, while two notable retailers made their debut appearance.

One was embattled department store Myer (ASX:MYR), which slumped from 51c in January to March lows of 10c.

But steady demand in recent weeks has seen the stock climb back to a post-pandemic high of 33c.

And despite a sharp selloff in online retail stocks in the wake of recent vaccine updates, Temple & Webster (ASX:TPY) also climbed onto this week’s list with an RSI reading of 76.

TPY shares are off from their October highs above $14, but four straight winning sessions saw the stock close at $10.77 to finish the week.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, November 20:

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

Code Company Price RSI MktCap$
HMD Heramed Limited 0.1 30 $ 12,110,910.57
PKO Peako Limited 0.025 24 $ 4,735,177.93
VAR Variscan Mines Ltd 0.025 30 $ 5,252,338.78
ENV Enova Mining Limited 0.023 30 $ 8,127,812.26
DC2 DC Two Ltd 0.335 30 $ 10,468,892.87
KCN Kingsgate Consolidated 0.67 22 $ 157,227,028.30
AMA AMA Group Limited 0.735 28 $ 587,122,814.40
KZR Kalamazoo Resources 0.57 24 $ 78,564,860.40
HCT Holista CollTech Ltd 0.072 30 $ 19,825,134.26
VAR Variscan Mines Ltd 0.025 30 $ 5,252,338.78
MQR Marquee Resource Ltd 0.076 28 $ 8,497,718.26
ENV Enova Mining Limited 0.023 30 $ 8,127,812.26
KLA Kirkland Lake Gold 55.65 25 $ 56,910,000.00