Green technology company Leaf Resources (ASX:LER), which has a joint venture with the US-based Claeris to develop a commercial bio-refinery, has climbed on eight out of ten trading days in 2021.
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, January 15:
Scroll or swipe to reveal table. Click headings to sort.
Code Company Price RSI Market Cap LER Leaf Resources 0.065 91 $ 55,978,355 BNZ Benzmining 1.43 90 $ 21,800,108 SKS SKS Tech Group Ltd 0.2 89 $ 19,983,341 AVZ AVZ Minerals Ltd 0.205 87 $ 634,516,339 BDG Black Dragon Gold 0.099 87 $ 13,435,361 AER Aeeris Ltd 0.125 87 $ 7,496,732 GGX Gas2Grid Limited 0.004 83 $ 5,343,988 COB Cobalt Blue Ltd 0.375 79 $ 80,263,210 CAE Cannindah Resources 0.025 79 $ 7,161,116 SOV Sovereign Cloud Hldg 0.865 79 $ 44,874,118 BMN Bannerman Resources 0.16 77 $ 161,227,809 SLX Silex Systems 1.64 75 $ 266,061,702 RCR Rincon 0.325 75 $ 11,896,547 PRM Prominence Energy NL 0.009 73 $ 4,415,149 IMS Impelus Ltd 0.65 72 $ 5,221,750 ZEO Zeotech Limited 0.083 71 $ 114,644,095 NMT Neometals Ltd 0.35 70 $ 171,785,649 OMH OM Holdings Limited 0.75 70 $ 539,195,036 RXH Rewardle Holding Ltd 0.008 70 $ 4,736,893 NES Nelson Resources. 0.086 70 $ 10,102,588 NCL Netccentric Ltd 0.06 70 $ 15,750,000
The Stockhead data team counted up a total of 21 stocks this week with a 14-day RSI above 70.
Topping the list was green technology company Leaf Resources (ASX:LER), which operates a processing system for the conversion of biomass.
The company has a joint venture with the US-based Claeris to develop a commercial bio-refinery in the southern Malaysian state of Johor.
LER re-listed on the ASX in December and has had no news in the new year, although so far in 2021 the stock has climbed on eight out of ten trading days.
Running Cold
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, January 15:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
SAN | Sagalio Energy Ltd | 0.03 | 16 | $ 6,753,784.29 |
NUC | Nuchev Limited | 1.28 | 23 | $ 48,657,600.00 |
CAP | Carpentaria Resource | 0.054 | 16 | $ 16,074,891.72 |
IXR | Ionic Rare Earths | 0.027 | 24 | $ 71,749,587.36 |
DVN | Devine Limited | 0.13 | 29 | $ 20,634,972.28 |
GES | Genesis Resources | 0.013 | 18 | $ 10,176,936.82 |
MEM | Memphasys Ltd | 0.105 | 28 | $ 79,251,257.40 |
AND | Ansarada Group Ltd | 1.25 | 18 | $ 103,965,413.12 |
SEG | Sports Ent Grp Ltd | 0.2 | 18 | $ 46,220,211.20 |
MTB | Mount Burgess Mining | 0.008 | 22 | $ 5,281,190.39 |
GIB | Gibb River Diamonds | 0.083 | 27 | $ 17,555,283.94 |
CUE | CUE Energy Resource | 0.084 | 26 | $ 53,057,098.72 |
OVT | Ovato Limited | 0.008 | 26 | $ 69,862,498.02 |
MSB | Mesoblast Limited | 2.46 | 30 | $ 1,480,718,685.60 |
AQC | Auspaccoal Ltd | 0.14 | 28 | $ 8,077,569.60 |
ESR | Estrella Res Ltd | 0.08 | 29 | $ 70,161,954.80 |
NET | Netlinkz Limited | 0.05 | 22 | $ 124,407,429.20 |
AHF | Aust Dairy Group | 0.064 | 29 | $ 27,341,401.98 |
MPH | Mediland Pharm | 0.056 | 16 | $ 17,514,762.16 |