There was a broad mix of industries running hot this week, as stocks spanning the resources, energy and financial services sectors posted 14-day RSI readings above 90.

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, February 5:

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Code Company Price RSI Market Cap
RDF Redflex Holdings 0.88 93 $ 132,231,787
HWK Hawkstone Mng Ltd 0.05 90 $ 81,624,971
RLT Renergen Limited 2.26 85 $ 26,456,251
PTX Prescient Ltd 0.13 84 $ 83,271,891
GME GME Resources Ltd 0.13 82 $ 47,333,689
MNS Magnis Energy Tech 0.34 82 $ 273,752,240
AWN AWN Holdings Limited 1.40 81 $ 57,111,983
TMH The Market Herald 0.50 80 $ 94,884,170
ENA Ensurance Ltd 0.02 80 $ 11,990,081
CXL Calix Limited 1.62 80 $ 201,971,616
MGT Magnetite Mines 0.03 78 $ 88,546,948
ELT Elementos Limited 0.02 78 $ 38,955,917
MNB Minbos Resources Ltd 0.10 78 $ 35,117,500
MRQ Mrg Metals Limited 0.02 77 $ 23,283,674
CG1 Carbonxt Group 0.25 77 $ 32,618,548
FSG Field Solu Hldgs Ltd 0.06 76 $ 28,288,184
RNU Renascor Res Ltd 0.04 75 $ 66,628,393
XST Xstate Resources 0.01 75 $ 12,678,686
BPH BPH Energy Ltd 0.20 74 $ 140,075,371
IBG Ironbark Zinc Ltd 0.03 73 $ 23,513,803
PWN Parkway Minls NL 0.02 71 $ 41,816,588
ZEU Zeus Resources Ltd 0.03 71 $ 4,683,900
LKE Lake Resources 0.32 70 $ 315,410,229
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A total of 23 stocks posted a 14-day RSI above 70, the same number as last week.

Financial services firm Centrepoint Alliance (ASX:CAF) jumped to the top of this week’s list following a trading update last Tuesday.

The stock posted three straight days of steady gains after announcing a $2.1m half-year profit (up from at $400,000 loss) and a return to dividend payments.

Hawkstone Mining (ASX:HWK) also made an appearance at the top of the list, after a run of positive news flow on its gold and lithium projects in the US state of Nevada.

And South Africa-based Renergen (ASX:RLT) has also been running hot, after inking a gas distribution deal during the week.

Local freight shipper Bulk Hauliers International Transport (BHIT) has agreed to buy LNG from Renergen to fuel its fleet of 50 trucks.
 

Running Cold

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, February 5:

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

Code Company Price RSI Market Cap
CM8 Crowd Media Limited 0.036 30 $ 21,868,075.16
SIH Sihayo Gold Limited 0.014 30 $ 55,281,921.20
CCA Change Financial Ltd 0.095 30 $ 39,872,707.38
BTR Brightstar Resources 0.037 29 $ 16,994,279.80
WFL Wellfully Limited 0.09 29 $ 13,183,841.97
EVZ EVZ Limited 0.1 28 $ 9,611,673.40
DGR DGR Global Ltd 0.062 28 $ 65,363,774.71
JAL Jameson Resources 0.09 27 $ 27,299,870.10
SWK Swick Mining 0.155 26 $ 53,827,780.14
TYM Tymlez Group 0.04 26 $ 10,805,364.23
EM1 Emerge Gaming Ltd 0.049 26 $ 39,730,044.10
ERD Eroad Limited 4.28 25 $ 352,154,262.00
GUL Gullewa Limited 0.087 24 $ 16,413,579.00
STN Saturn Metals 0.445 23 $ 46,639,739.30
KPE Kina Petroleum Corp 0.115 17 $ 1,460,156.73
CLH Collection House 0.3 16 $ 43,294,189.41
AQC Auspaccoal Ltd 0.13 16 $ 6,563,025.30
SRH Saferoads Holdings 0.24 10 $ 8,990,827.92
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