If you haven’t been tracking the insane RSI prints for ViaGold Rare Earths (ASX:VIA), you can do so here, here and here.

(Also, read this if you want to know what the heck it is.)

But there were plenty of other stocks running hot this week, as Stockhead counted 29 companies with a 14-day RSI above 70.

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 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, October 15:

Outside of ViaGold, Strickland Metals (ASX:STK) was among the Running Hot leaders this week with a 14-day RSI of 88.

The stock has been climbing steadily throughout October, and jumped on Thursday after announcing an “exciting, shallow high-grade zinc-lead discovery” at its Iroquois joint venture in WA.

Australasian Gold (ASX:A8G) was also in the top three, after a solid rally either side of a $2.5 million share placement at 45c per share last week.

The gold explorer is also hunting for lithium at its Mt Peake project. The bulk of its exploration-focused capital raise was backed by “major lithium industry players” Shandong Ruifu Lithium Industry Co and Tangshan Xinfeng (Hong Kong) Limited, A8G said.

The Running Hot list this week was dominated by resources stocks, although semiconductor play Revasum (ASX:RVS) made an appearance, after doubling up in October.

RVS got a speeding ticket last week but said it wasn’t aware of any extra information — other than this Stockhead interview with company CEO Rebecca Shooter-Dodd.

RVS released it 4C filing for the September quarter last week, which showed it reported net operating cash outflows of US$1.07m on cash receipts of US$4.54m. It finished the quarter with US$4.84m in the bank.
 

Running Cold

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, October 15: