Each week, Stockhead recaps ASX stocks that are “running hot” as deduced by the Relative Strength Index (RSI).

The RSI is 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, June 25:

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

Code Company Price RSI MktCap$
OLH Oldfields Holdings 0.068 96 $ 9,056,152.46
FME Future Metals NL 0.235 92 $ 70,158,118.24
APT Afterpay Limited 130.9 85 $ 37,786,573,192.50
IOD IODM Limited 0.2 85 $ 114,232,311.00
VR8 Vanadium Resources 0.085 84 $ 35,986,193.03
MLT Milton Corporation 6 82 $ 4,052,124,487.64
RDY Readytech Holdings 2.48 82 $ 241,073,471.36
PAB Patrys Limited 0.058 78 $ 101,755,926.44
ZEU Zeus Resources Ltd 0.09 76 $ 19,057,800.00
AGI Ainsworth Game Tech. 1.205 75 $ 400,784,775.51
LTR Liontown Resources 0.775 75 $ 1,382,523,585.56
AUH AustChina Holdings 0.011 74 $ 17,975,367.97
BRL Bathurst Resources 0.45 73 $ 61,542,584.28
RAG Ragnar Metals Ltd 0.071 72 $ 20,598,778.23
SUD Suda Pharmaceuticals 0.055 72 $ 20,386,767.42
FTZ Fertoz Ltd 0.15 72 $ 27,616,903.35
LGP Little Green Pharma 0.83 72 $ 107,924,328.72
INV Investsmart Group 0.25 71 $ 34,598,883.75
HUO Huon Aquaculture Grp 2.88 71 $ 295,558,259.71
PLS Pilbara Min Ltd 1.5475 71 $ 4,475,837,437.20
8IH 8I Holdings Ltd 0.29 71 $ 104,910,136.39
Wordpress Table Plugin

Scaffolding & painting company Oldfields (ASX:OLH) hasn’t had much news of note recently, but a strong gain on Friday was good enough for it to register a 14-day RSI of 96 (which is red-hot) and top this week’s list.

Future Metals (ASX:FME) also ran hot after re-listing on the ASX with the purchase of the 23sqkm ‘Panton’ platinum group metals (ASX:PGM) project in the Kimberly region of WA.

And another notable company near the top of this week’s list was BNPL leader Afterpay (ASX:APT), which stood out with a market cap north of $37bn after its share price climbed back above $130 this week.

APT has fluctuated this year amid changes to the outlook for bond yields and inflation, but after hitting a low of $84.50 on May 13 the stock has since gained by more than 50 per cent.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, June 25:

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

Code Company Price RSI MktCap$
VKA Viking Mines Ltd 0.019 30 $ 20,425,168.62
FHS Freehill Mining Ltd. 0.033 30 $ 57,837,273.06
FAU First Au Ltd 0.013 29 $ 7,990,173.80
SVY Stavely Minerals Ltd 0.425 29 $ 109,603,809.84
ESH Esports Mogul Ltd 0.007 29 $ 20,175,569.34
SHO Sportshero Ltd 0.022 29 $ 10,924,278.79
MRD Mount Ridley Mines 0.0025 28 $ 13,081,844.10
GTE Great Western Exploration 0.12 27 $ 17,705,747.93
OVT Ovato Limited 0.0025 26 $ 36,638,436.76
MQR Marquee Resource Ltd 0.05 25 $ 6,235,325.30
WOW Woolworths Group Ltd 36.835 24 $ 47,853,878,741.75
EMU EMU NL 0.024 24 $ 10,956,347.62
BLG Bluglass Limited 0.033 24 $ 26,045,071.80
GLL Galilee Energy Ltd 0.565 24 $ 165,345,911.36
EVE EVE Investments Ltd 0.004 14 $ 15,372,567.56
PVE Po Valley Energy Ltd 0.028 6 $ 25,610,707.47
Wordpress Table Plugin

Featured Companies

You might be interested in