Fertoz Ltd (ASX:FTZ) topped the pops with a red hot 14-day RSI of 93 after two massive days to finish the week.
A total of 18 ASX companies posted a 14-day RSI above 70 last week, down from 25 in the week prior.
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 18:
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | RSI | MktCap$ |
|---|---|---|---|---|
| FTZ | Fertoz Ltd | 0.15 | 93 | $ 20,252,395.79 |
| DOR | Doriemus PLC | 0.24 | 89 | $ 17,757,331.73 |
| ISD | Isentia Group Ltd | 0.165 | 87 | $ 33,000,000.17 |
| TLX | Telix Pharmaceutical | 6.09 | 83 | $ 1,615,083,361.92 |
| VBS | Vectus Biosystems | 1.23 | 82 | $ 37,986,472.80 |
| 8IH | 8I Holdings Ltd | 0.26 | 82 | $ 90,439,772.75 |
| SES | Secos Group Ltd | 0.285 | 82 | $ 152,732,030.67 |
| ZEU | Zeus Resources Ltd | 0.073 | 82 | $ 12,790,650.00 |
| MME | Moneyme Limited | 1.935 | 79 | $ 330,022,001.93 |
| BFC | Beston Global Ltd | 0.1275 | 79 | $ 105,334,301.00 |
| GBE | Globe Metals &Mining | 0.17 | 78 | $ 81,536,415.28 |
| HE8 | Helios Energy Ltd | 0.175 | 77 | $ 272,239,375.65 |
| PAB | Patrys Limited | 0.044 | 75 | $ 72,682,804.60 |
| COD | Coda Minerals Ltd | 1.385 | 75 | $ 96,539,656.36 |
| AWN | AWN Holdings Limited | 1.07 | 74 | $ 31,680,160.00 |
| IOD | Iodm Limited | 0.17 | 74 | $ 97,097,464.35 |
| TTB | Total Brain Ltd | 0.28 | 73 | $ 30,325,059.52 |
| STK | Strickland Metals | 0.044 | 71 | $ 32,351,111.50 |
Fertoz followed up Thursday’s 42.86% gain with another +40% surge, after making an announcement on the development of its organic fertiliser product sourced from phosphate.
The company said a two-year field study returned positive results around quality and yield from the product, which has resulted in a steady stream of orders from new and existing clients.
FTZ books more than half its revenue from North America, which has a more advanced economy around carbon taxes and carbon credits.
After recording an RSI surge last week, oil and gas explorer Doriemus (ASX:DOR) continued to run hot in the wake of its $3.3m capital raise.
Also climbing onto this week’s list with an RSI of 82 was Vectus Biosystems (ASX:VBS), which on Thursday announced it’s received approval to run Phase 1 in-human trials in Australia for its VB0004 treatment for fibrotic disease.
Running Cold
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, June 18:
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | RSI | MktCap$ |
|---|---|---|---|---|
| MR1 | Montem Resources | 0.07 | 29 | $ 17,286,888.17 |
| SHH | Shree Minerals Ltd | 0.011 | 29 | $ 12,758,842.70 |
| CM8 | Crowd Media Limited | 0.024 | 29 | $ 14,743,815.98 |
| YRL | Yandal Resources | 0.47 | 29 | $ 45,577,103.34 |
| DNA | Donaco International | 0.042 | 29 | $ 50,650,964.66 |
| XAM | Xanadu Mines Ltd | 0.037 | 29 | $ 45,202,239.00 |
| PNM | Pacific Nickel Mines | 0.036 | 28 | $ 7,736,221.30 |
| RSH | Respiri Limited | 0.062 | 27 | $ 50,598,855.30 |
| CMD | Cassius Mining Ltd | 0.015 | 27 | $ 4,583,695.85 |
| MCP | McPherson's Ltd | 1.205 | 26 | $ 154,084,152.00 |
| ELT | Elementos Limited | 0.017 | 25 | $ 69,439,708.69 |
| EMU | EMU NL | 0.027 | 25 | $ 12,325,891.07 |
| AOU | Auroch Minerals Ltd | 0.15 | 24 | $ 41,779,209.60 |
| CY5 | Cygnus Gold Limited | 0.12 | 20 | $ 14,094,612.74 |
| BDM | Burgundy D Mines Ltd | 0.22 | 16 | $ 62,848,555.47 |
| TOM | Tomizone Limited | 0.002 | 12 | $ 850,401.35 |