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:

Code Company Price RSI MktCap$
VIA ViaGold Rare Earth 2.00 99 $ 166,624,808.00
STK Strickland Metals 0.091 88 $ 97,184,872.18
A8G Australasian Gold 0.585 85 $ 17,983,993.44
PVW PVW Res Ltd 0.33 84 $ 20,435,203.13
WAF West African Res Ltd 1.445 84 $ 1,237,462,958.20
GEV Global Ene Ven Ltd 0.1175 79 $ 50,288,685.37
WLD Wellard Limited 0.13 79 $ 63,750,037.44
CAE Cannindah Resources 0.19 79 $ 93,398,756.58
IKW Ikwezi Mining Ltd 0.97 78 $ 39,430,474.78
CNR Cannon Resources 0.44 77 $ 28,572,154.53
SHP South Harz Potash 0.13 77 $ 53,012,280.13
AQC Auspaccoal Ltd 0.225 76 $ 11,106,658.20
AMO Ambertech Limited 0.44 76 $ 34,384,800.77
RVR Red River Resources 0.22 76 $ 111,469,864.92
ARV Artemis Resources 0.11 76 $ 121,734,772.15
CPN Caspin Resources 0.99 75 $ 65,631,467.40
RAS Ragusa Minerals Ltd 0.125 75 $ 13,572,613.15
RVS Revasum 0.765 74 $ 83,444,430.19
SPN Sparc Tech Ltd 0.86 74 $ 47,543,120.10
DDT DataDot Technology 0.014 73 $ 16,170,303.06
CXO Core Lithium 0.565 73 $ 882,308,658.96
STM Sunstone Metals Ltd 0.051 73 $ 106,079,407.01
C6C Copper Mountain 4.01 73 $ 63,377,921.88
HZR Hazer Group Limited 1.325 72 $ 219,956,505.78
INF Infinity Lithium 0.1475 71 $ 54,393,465.06
PRM Prominence Energy 0.018 71 $ 17,895,334.70
COB Cobalt Blue Ltd 0.39 70 $ 113,428,801.86
BUB Bubs Aust Ltd 0.475 70 $ 297,196,156.30
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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:

Code Company Price RSI Market Cap
1AG Alterra Limited 0.033 30 $ 9,166,617.04
ZBT Zebit Inc. 0.58 29 $ 53,926,961.28
NUH Nuheara Limited 0.024 29 $ 43,170,703.65
XTE Xtek Limited 0.26 29 $ 21,169,505.24
ECG Ecargo Hldg 0.027 28 $ 19,072,750.00
BRV Big River Gold Ltd 0.22 27 $ 50,471,763.96
W2V Way2Vatltd 0.215 27 $ 29,597,364.40
WGO Warrego Energy Ltd 0.155 25 $ 183,468,348.90
PTM Platinum Asset Mgmt 3.01 25 $ 1,883,239,269.00
PGH Pact Group Hldgs Ltd 3.07 25 $ 1,056,970,462.71
CBE Cobre 0.096 21 $ 11,514,041.28
WFL Wellfully Limited 0.125 21 $ 24,129,583.59
PDL Pendal Group Ltd 6.9 21 $ 2,958,100,066.51
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