Each Monday, Stockhead recaps the 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, October 23:
Scroll or swipe to reveal table. Click headings to sort.
Code Company Price RSI MktCap$ AMO Ambertech Limited 0.29 96 $ 9,174,599 ABB Aussie Broadband 2.03 96 $ 380,680,052 8VI 8Vi Holdings Limited 2.00 93 $ 88,754,890 LCY Legacy Iron Ore 0.009 92 $ 49,977,908 8IH 8I Holdings Ltd 0.295 90 $ 95,866,159 NVA Nova Minerals Ltd 0.195 88 $ 293,819,275 WBT Weebit Nano Ltd 1.71 85 $ 139,796,990 EM1 Emerge Gaming Ltd 0.13 83 $ 70,546,903 WWI West Wits Mining Ltd 0.065 83 $ 75,844,272 SDG Sunland Group Ltd 2.09 83 $ 263,550,816 CWL Consol Financial Hld 0.037 83 $ 4,692,629 ODA Orcoda Limited 0.16 82 $ 18,566,165 AVE Avecho Biotech Ltd 0.016 81 $ 14,377,117 REZ Resourc & En Grp Ltd 0.088 79 $ 34,115,908 ESR Estrella Res Ltd 0.17 79 $ 114,223,431 SCT Scout Security Ltd 0.135 79 $ 13,318,483 LSR Lodestar Minerals 0.018 79 $ 14,497,634 NSX NSX Limited 0.155 78 $ 42,455,478 THR Thor Mining PLC 0.023 77 $ 8,701,699 NTI Neurotech Intl 0.026 77 $ 10,102,684 POD Podium Minerals 0.11 77 $ 25,862,455 AOU Auroch Minerals Ltd 0.165 76 $ 35,843,478 BLG Bluglass Limited 0.115 76 $ 75,566,052 GEV Global Ene Ven Ltd 0.099 74 $ 36,762,931
Ambertech Limited (ASX:AMO), which makes equipment used in production support for the film/tv broadcast and audio industries, shot to the top of this week’s list after a big surge on Friday.
The +100pc gain followed a profit guidance update, where the company forecast revenues in the range between $34-$38m for the six months ended December 31.
Reflecting the current strength of the IPO market, recent ASX debutante Aussie Broadband (ASX:ABB) also made an appearance at the pointy end of the Running Hot list after ripping higher when it hit the ASX boards on October 16.
And for the first time in Hot Money Monday history, ASX competitor the NSX (ASX:NSX) chalked up a two-week RSI above 70 following its big jump on Wednesday after the release of quarterly cash flow data.
Running Cold
Here’s a summary of the stocks that were running hold for the two weeks ended Friday, October 23:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
CMD | Cassius Mining Ltd | 0.01 | 28 | $ 2,872,464 |
ATH | Alterity Therap Ltd | 0.038 | 29 | $ 42,315,157 |
PCH | Property Connect | 0.0015 | 29 | $ 1,028,795 |
EOF | Ecofibre Limited | 1.77 | 22 | $ 262,482,568 |
BKY | Berkeley Energia Ltd | 0.405 | 27 | $ 107,321,249 |
ILU | Iluka Resources | 5.22 | 14 | $ 4,185,419,842 |
SKN | Skin Elements Ltd | 0.025 | 2 | $ 7,818,423 |
PBX | Pacific Bauxite Ltd | 0.003 | 27 | $ 1,189,842 |
MCX | Mariner Corp Ltd | 0.03 | 9 | $ 1,441,597 |
T3D | 333D Limited | 0.001 | 28 | $ 1,065,996 |
BKY | Berkeley Energia Ltd | 0.405 | 26 | $ 107,321,249 |
NZS | New Zealand Coastal | 0.031 | 29 | $ 17,861,277 |
PXX | Polarx Limited | 0.03 | 24 | $ 16,245,622 |
IQ3 | Iq3Corp Limited | 0.2 | 15 | $ 20,785,000 |
TPC | TPC Consolidated Ltd | 1.09 | 19 | $ 12,246,818 |