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 look out 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, June 11:

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

Code Company Price RSI MktCap$
DOR Doriemus PLC 0.19 99 $ 9,857,131.25
COD Coda Minerals Ltd 1.15 90 $ 79,810,762.84
8VI 8Vi Holdings Limited 4.44 83 $ 169,541,176.44
VAR Variscan Mines Ltd 0.135 82 $ 27,687,663.12
ACW Actinogen Medical 0.18 81 $ 273,992,160.26
HE8 Helios Energy Ltd 0.155 80 $ 247,415,341.50
BCI BCI Minerals Ltd 0.55 78 $ 341,549,604.81
CVS Cervantes Corp Ltd 0.011 77 $ 15,540,124.64
ZEU Zeus Resources Ltd 0.058 77 $ 10,448,700.00
BVS Bravura Solution Ltd 3.83 77 $ 902,870,632.05
IRE IRESS Limited 12.445 77 $ 2,472,645,461.77
STK Strickland Metals 0.041 76 $ 27,204,343.76
AHQ Allegiance Coal Ltd 0.78 76 $ 185,255,052.18
LTR Liontown Resources 0.665 76 $ 1,191,517,037.56
TRN Torrens Mining 0.275 75 $ 18,418,033.26
BIR BIR Financial Ltd 0.028 75 $ 2,356,260.73
CGS Cogstate Ltd 1.385 74 $ 246,223,196.64
NTO Nitro Software Ltd 3.37 74 $ 657,864,497.40
AAP Australian Agri Ltd 0.026 72 $ 7,931,082.28
GBE Globe Metals &Mining 0.115 71 $ 51,251,461.03
ENX Enegex Limited 0.185 71 $ 30,348,591.21
FTZ Fertoz Ltd 0.07 71 $ 12,887,888.23
AER Aeeris Ltd 0.15 70 $ 8,996,078.70
ODM Odin Metals Limited 0.041 70 $ 16,856,462.07
AIS Aeris Resources Ltd 0.2125 70 $ 393,484,622.31
Wordpress Table Plugin

It’s hard to run much hotter than energy stock Doriemus (ASX:DOR), which doubled up last Tuesday after announcing a $3.3m capital raise, which it said will be used to continue developing its UK-based oil & gas assets.

DOR shares closed the week at 17c, which is a ~16,000pc premium to the 4,000,000 options priced at 0.1c that lead underwriter Inyati Capital Pty Ltd is seeking for facilitating the share placement (subject to shareholder approval).

The other stock to run super-hot this week was Coda Minerals (ASX:COD), which is often what happens when you unearth what looks like a serious IOCG (iron oxide copper gold ore) discovery 100km south of BHP’s Olympic Dam.

COD shares rose by 235% in a single day last Wednesday after the discovery announcement at the ‘Elizabeth Creek’ prospect in SA, which the company is developing in a joint venture with Torrens Mining (ASX:TRN).

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, June 11:

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

Code Company Price RSI MktCap$
PCH Property Connect 0.0015 30 $ 1,028,795.21
EMU EMU NL 0.031 30 $ 14,608,463.49
CGB Cann Global Limited 0.005 30 $ 25,696,276.42
CLH Collection House 0.165 30 $ 24,131,187.54
TD1 Tali Digital Limited 0.029 28 $ 27,894,712.80
GCY Gascoyne Res Ltd 0.37 25 $ 92,817,507.36
BLG Bluglass Limited 0.041 25 $ 27,457,961.45
BDM Burgundy D Mines Ltd 0.28 24 $ 80,610,103.76
TRY Troy Resources Ltd 0.037 23 $ 26,514,731.88
OKJ Oakajee Corp Ltd 0.065 20 $ 5,896,866.95
LAM Laramide Res Ltd 0.5 20 $ 602,707.50
EVO Evolve Education Grp 0.8 20 $ 125,246,344.94
KLO Kingsland Global Ltd 0.021 12 $ 8,505,000.00
UCW UCW Ltd 0.135 12 $ 15,864,450.48
TOM Tomizone Limited 0.002 11 $ 850,401.35
Wordpress Table Plugin

Featured Companies

You might be interested in