Hot Money Monday: 31 ASX small caps posted a 14-day RSI above 70 this week
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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.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, January 22:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
T3D | 333D Limited | 0.002 | 99 | $ 2,131,992 |
RDF | Redflex Holdings | 0.85 | 94 | $ 60,796,224 |
ANW | Aus Tin Mining | 0.002 | 94 | $ 5,090,013 |
SXA | Strata-X Energy Ltd | 0.2 | 94 | $ 21,266,388 |
HWK | Hawkstone Mng Ltd | 0.028 | 90 | $ 42,324,059 |
NVX | Novonix Limited | 2.68 | 89 | $ 889,587,562 |
ASP | Aspermont Limited | 0.016 | 87 | $ 39,251,131 |
OEQ | Orion Equities | 0.2 | 87 | $ 3,562,878 |
IXR | Ionic Rare Earths | 0.038 | 86 | $ 92,558,384 |
SRY | Story-I Limited | 0.028 | 86 | $ 7,028,419 |
RNU | Renascor Res Ltd | 0.027 | 85 | $ 33,314,197 |
GLB | Globe International | 5.35 | 84 | $ 217,685,045 |
VRC | Volt Resources Ltd | 0.019 | 81 | $ 41,093,734 |
IRD | Iron Road Ltd | 0.28 | 80 | $ 215,075,868 |
EGR | Ecograf Limited | 0.375 | 79 | $ 152,874,443 |
PNN | PepinNini Minerals | 63 | 79 | $ 18,663,132 |
LPD | Lepidico Ltd | 0.03 | 79 | $ 171,129,256 |
LIT | Lithium Australia NL | 0.17 | 78 | $ 145,996,656 |
RLE | Real Energy Corp | 7.4 | 78 | $ 36,850,825 |
LKE | Lake Resources | 0.185 | 78 | $ 175,227,905 |
DTS | Dragontail Systems | 0.19 | 78 | $ 42,898,269 |
SPA | Spacetalk Ltd | 0.18 | 78 | $ 29,749,760 |
TAS | Tasman Resources Ltd | 0.068 | 77 | $ 41,557,485 |
NTU | Northern Min Ltd | 0.065 | 76 | $ 248,248,039 |
APH | AP Hemp Ltd | 0.49 | 74 | $ 28,042,568 |
AXE | Archer Materials | 0.82 | 74 | $ 198,120,160 |
AGY | Argosy Minerals Ltd | 0.18 | 72 | $ 183,510,385 |
ASN | Anson Resources Ltd | 0.093 | 71 | $ 83,470,046 |
PWN | Parkway Minls NL | 0.0175 | 70 | $ 28,511,310 |
VUL | Vulcan Energy | 7.89 | 70 | $ 685,525,998 |
BOC | Bougainville Copper | 0.52 | 70 | $ 242,642,813 |
Stockhead’s data team counted a total of 31 stocks that recorded a 14-day RSI above 70 this week.
Print technology group 333D Ltd (ASX:T3D), which has the market cap of an inner-west Sydney townhouse (~$2m), popped up at the top of this week’s list with an insane RSI of 99.
That appears to be driven by some unusual price action on Thursday, when the stock doubled and the company responded to a price query from the ASX by saying it had no idea what was going on.
Also running hot this week was RedFlex Holdings (ASX:RDF), which surged on Friday following a takeover offer.
And lithium-ion battery supply company Novonix Limited (ASX:NVX) posted a 14-day RSI of 89, after announcing that its US-based graphite subsidiary has received a $US5.57m R&D grant from the US Department of Energy.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, January 22:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
PCH | Property Connect | 0.0015 | 29 | $ 1,028,795 |
FTZ | Fertoz Ltd | 0.05 | 27 | $ 7,766,081 |
CII | CI Resources Limited | 0.81 | 7 | $ 93,620,697 |
RNO | Rhinomed Ltd | 0.125 | 28 | $ 32,995,187 |
CYQ | Cycliq Group Ltd | 0.0025 | 25 | $ 5,759,231 |
ATU | Atrum Coal Ltd | 0.23 | 29 | $ 153,872,076 |
CL8 | Carly Holdings Ltd | 0.16 | 27 | $ 9,893,697 |
WWG | Wisewaygroupltd | 0.175 | 29 | $ 24,555,785 |
GIB | Gibb River Diamonds | 0.073 | 29 | $ 16,286,227 |
SNL | Supply Network | 4.8 | 24 | $ 203,351,811 |
AQC | Auspaccoal Ltd | 0.135 | 19 | $ 6,815,449 |
CLH | Collection House | 0.335 | 16 | $ 48,262,375 |
RNO | Rhinomed Ltd | 0.125 | 25 | $ 32,995,187 |
GPS | GPS Alliance Ltd | 0.042 | 12 | $ 4,954,265 |
MPH | Mediland Pharm | 0.054 | 18 | $ 16,889,235 |