Just like when the recent lithium frenzy saw the Running Hot list populated by junior lithium plays, this week saw ASX uranium stocks make their move. But it was the $6.5m oil & gas minnow Grand Gulf Energy (ASX:GGE) which ran hottest this week with an RSI of 92. 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 […]
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