Stockhead’s Hot Money Monday 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 look-out for opportunities where the price action has separated from fundamentals.

Volatility on the ASX saw the number of stocks with a 14-day RSI half to just 16, down from 32 in the week prior.
 

Running Hot

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, March 5:

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price RSI Market Cap
GLE GLG Corp Ltd 0.3 99 $ 8,892,000
TPC TPC Consolidated Ltd 2.1 93 $ 23,888,787
LAM Laramide Res Ltd 0.59 92 $ 623,201
UUL Ultima Utd Ltd 0.93 89 $ 34,824,327
WWG Wisewaygroup Ltd 0.32 88 $ 45,603,600
VXR Venturex Resources 0.345 86 $ 127,846,547
SLK Sealink Travel Grp 8.53 84 $ 1,878,231,813
GRR Grange Resources. 0.525 82 $ 509,229,027
MLX Metals X Limited 0.24 82 $ 217,743,856
CDD Cardno Limited 0.445 81 $ 174,557,776
QPM Queensland Pacific 0.097 79 $ 93,294,758
TNR Torian Resources Ltd 0.058 78 $ 45,223,936
ZIM Zimplats Holding Ltd 16.83 77 $ 1,638,245,018
PIQ Proteomics Int Lab 1.39 77 $ 138,475,755
AVR Anteris Technologies 6.88 76 $ 47,426,758
DNK Danakali Limited 0.56 76 $ 172,631,707
BDM Burgundy D Mines Ltd 0.29 76 $ 74,776,377
RNU Renascor Res Ltd 0.06 75 $ 103,274,010
C6C Copper Mountain 3.3 75 $ 58,850,927
CCE Carnegie Cln Energy 0.007 74 $ 63,740,433
OIL Optiscan Imaging 0.24 74 $ 152,176,427
CGO CPT Global Limited 0.43 74 $ 16,889,072
A4N Alpha Hpa Ltd 0.52 74 $ 339,264,181
IGL Ivegroup 1.54 73 $ 216,408,708
RCP Redbank Copper Ltd 0.105 73 $ 45,113,265
AQS Aquis Ent Ltd 0.42 71 $ 16,966,609
CWX Carawine Resources 0.325 71 $ 34,844,769
IDA Indiana Resources 0.09 71 $ 25,311,309
PUR Pursuit Minerals 0.064 70 $ 47,812,285
PVL Powerhouse Ven Ltd 0.082 70 $ 5,299,124
EGL Environmental Group 0.064 70 $ 19,111,284
BEE Broo Ltd 0.018 70 $ 17,969,306

Investment company Mariner Corp (ASX:MCX) chalked up a red-hot RSI rating, which appeared to be driven by a 150pc surge on Thursday on no news.

The sub-$5m nanocap released its interim financial report in the week prior, which showed a 94 per cent fall in revenues to $12,713.

MCX booked a loss for the period of $324,407, and finished the year with $200,976 cash in the bank — a possible case of the RSI price action diverging from fundaments.

Obscure resources play Viagold Rare Earth Corp (ASX:VIA) also recorded a somewhat bizarre RSI reading after climbing in Thursday trade.

Earlier last week, the infrequently traded company announced it had passed a resolution of shareholders to expand its capital base by another 100,000,000 ordinary shares at a par value 20c.

Digital wealth advisory platform InvestSMART Group (ASX:INV) also ran hot after announcing last Tuesday that it had raised $17.68m for its Ethical Share Fund, which will operate as an ASX-listed exchange traded managed fund (ETF) (ASX: INES).

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, March 5:

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price RSI Market Cap
CFO Cfoam Limited 0.022 30 $ 11,876,812.68
EVS Envirosuite Ltd 0.125 30 $ 138,529,427.31
TLG Talga Group Ltd 1.17 30 $ 388,134,279.68
BUD Buddy Tech 0.039 30 $ 115,041,133.39
CTM Centaurus Metals Ltd 0.68 28 $ 250,242,028.52
LNU Linius Tech Limited 0.03 27 $ 46,627,970.11
SOV Sovereign Cloud Hldg 0.82 27 $ 45,661,383.63
VR1 Vection Technologies 0.081 26 $ 79,199,621.85
ZLD Zelira Therapeutics 0.059 26 $ 73,800,023.89
SBR Sabre Resources 0.0045 25 $ 7,573,786.42
LCY Legacy Iron Ore 0.014 24 $ 96,071,077.76
TNT Tesserent Limited 0.235 24 $ 250,404,800.00
RCL Readcloud 0.40 23 $ 49,693,371.42
CSX Cleanspace Holdings 4.75 23 $ 377,395,662.70
NXL Nuix Limited 5.04 22 $ 1,681,715,408.20
TER Terracom Ltd 0.083 19 $ 61,795,825.66
DTC Damstra Holdings 0.91 16 $ 171,868,079.60
LME Limeade, Inc. 0.965 14 $ 236,830,637.76