After a week when some unusual entries topped the Running Hot list, this week saw a return to relative normalcy — in the form of the ASX uranium sector which has seen numerous stocks post triple-digit percentage returns in recent weeks. 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 […]
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