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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.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, December 18:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
EOL | Energy One Limited | 5.6 | 84 | $ 140,143,304.40 |
ILU | Iluka Resources | 6.2 | 78 | $ 2,570,439,660.48 |
LSR | Lodestar Minerals | 0.017 | 76 | $ 13,644,831.90 |
RLC | Reedy Lagoon Corp. | 0.016 | 76 | $ 6,576,272.98 |
MSM | MSM Corporation Intl | 0.056 | 73 | $ 44,484,844.36 |
IHR | intelliHR Limited | 0.43 | 73 | $ 106,736,357.04 |
TLT | Tilt Renewables Ltd. | 5.37 | 73 | $ 1,903,011,114.20 |
XRO | Xero Ltd | 154.77 | 72 | $ 22,586,718,770.00 |
2BE | Tubi Limited | 0.05 | 71 | $ 15,826,779.05 |
VRL | Village Roadshow Ltd | 3 | 71 | $ 585,901,737.00 |
C6C | Copper Mountain | 1.67 | 70 | $ 31,040,534.22 |
LTR | Liontown Resources | 0.33 | 70 | $ 578,607,381.76 |
RCL | Readcloud | 0.71 | 70 | $ 81,338,960.19 |
For the first time in a while, this week’s Running Hot list took on a noticeably cooler tone as only 13 companies posted a 14-day RSI above 70 — down from 29 in the week prior.
One of the leader was market-darling Xero (ASX:XRO), which so far has posted gains on 11 out of 14 trading days in December.
The accounting software company’s latest rally has seen it climb from March lows of around $60 to close at new all-time highs above $155 on Friday.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, December 18:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
MEB | Medibio Limited | 0.008 | 29 | $ 12,128,963.12 |
DEM | De.Mem Ltd | 0.235 | 29 | $ 41,256,837.12 |
EM1 | Emerge Gaming Ltd | 0.076 | 28 | $ 62,837,656.21 |
MAN | Mandrake Res Ltd | 0.076 | 28 | $ 24,610,632.82 |
AC8 | Auscann Grp Hlgs Ltd | 0.175 | 28 | $ 60,238,997.83 |
THR | Thor Mining PLC | 0.014 | 27 | $ 6,220,078.70 |
JAN | Janison Edu Group | 0.505 | 26 | $ 109,540,922.92 |
PF1 | Pathfinder Resources | 0.225 | 24 | $ 11,685,184.65 |
CST | Castile Resources | 0.23 | 23 | $ 46,931,878.44 |
NUC | Nuchev Limited | 0.985 | 23 | $ 39,120,710.40 |
CPV | Clearvue Technologie | 0.285 | 23 | $ 44,397,252.41 |
WRM | White Rock Min Ltd | 0.465 | 23 | $ 39,259,097.82 |
ALG | Ardentleisuregrpltd | 0.62 | 23 | $ 328,598,620.96 |
RGI | Roto-Gro Intl Ltd | 0.059 | 19 | $ 14,374,659.75 |
SGH | Slater & Gordon | 0.8 | 18 | $ 112,819,485.86 |
CF1 | Complii Fintech Ltd | 0.062 | 17 | $ 14,763,066.50 |
HPR | High Peak Royalties | 0.067 | 15 | $ 13,226,947.93 |
1ST | 1St Group Ltd | 0.033 | 9 | $ 14,436,974.70 |