Hot Money Monday: The most in-demand stocks on the ASX right now
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Each Monday, Stockhead recaps which stocks are most heavily in demand by investors — running hot.
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.
Amid the unprecedented events of the last three weeks, it’s perhaps not surprising that the RSI has been turned on its head.
Two weeks ago there were just 15 stocks with an RSI reading above 70; last week that number fell to 10. And this week, when Stockhead’s data team ran the numbers at the conclusion of Friday trade, just two companies made the cut.
So as we’ve done over the last fortnight for the Running Cold list (which conversely has surged to all-time highs), this week’s edition of HMM required a small tweak.
Instead of an RSI above 70, we’ve included all stocks with an RSI reading above 60, bringing the count to 11:
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, March 13:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price | 2 Week RSI | Market Cap ($) |
---|---|---|---|---|
R3D | R3D GLOBAL LTD | 0.05 | 81.49 | 2.59M |
MAR | MALACHITE RESOURCES LTD | 0.001 | 74.62 | 2.78M |
ZEN | ZENITH ENERGY LTD/AU | 0.95 | 73.4 | 142.66M |
CTE | CRYOSITE LTD | 0.07 | 73.1 | 3.28M |
ARO | ASTRO RESOURCES NL | 0.002 | 72.82 | 6.36M |
SKN | SKIN ELEMENTS LTD | 0.02 | 69.58 | 5.18M |
CRM | CARBON MINERALS LTD | 0.25 | 67.82 | 4.79M |
MCX | MARINER CORP LTD | 0.06 | 66.83 | 3.12M |
CWL | CHANT WEST HOLDINGS LTD | 0.1 | 64.11 | 12.56M |
AGD | AUSTRAL GOLD LTD | 0.17 | 64.1 | 92.30M |
AME | ALTO METALS LTD | 0.05 | 63.36 | 16.14M |
ZUSD | ETFS ENHANCED USD CASH ETF | 11.74 | 62.15 | 9.05M |
COS | COSOL LTD | 0.34 | 61.89 | 43.35M |
N1H | N1 HOLDINGS LTD | 0.08 | 61.57 | 6.77M |
NZC | NZURI COPPER LTD | 0.37 | 61.51 | 108.01M |
MHI | MERCHANT HOUSE INTL LTD | 0.12 | 61.21 | 11.31M |
SGO | STREAM GROUP LTD | 0.02 | 60.96 | 4.61M |
DAU | DAMPIER GOLD LTD | 0.03 | 60.74 | 6.43M |
FHS | FREEHILL MINING LTD | 0.03 | 60.54 | 45.87M |
CI1 | CREDIT INTELLIGENCE LTD | 0.03 | 60.28 | 31.81M |
On the back of last week’s market capitulation, the number of ASX small caps with an RSI reading below 30 now numbers an (impressive) 501 stocks.
To provide a manageable summary of the worst-hit stocks, we’ve compiled a list of all companies with an RSI reading below 20. (Hint: Get ready to scroll — there are still 99 stocks on the list).
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, March 13:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price ($) | 2 Week RSI | Market Cap |
---|---|---|---|---|
TBL | TAMBLA LTD | 0.25 | 19.95 | 4.95M |
VOL | VICTORY OFFICES LTD | 1.1 | 19.93 | 44.99M |
JDR | JADAR RESOURCES LTD | 0.01 | 19.86 | 3.67M |
EBG | EUMUNDI GROUP LTD | 0.86 | 19.8 | 34.90M |
MOZ | MOSAIC BRANDS LTD | 0.8 | 19.75 | 77.45M |
OFX | OFX GROUP LTD | 1.01 | 19.74 | 251.22M |
WHK | WHITEHAWK LTD | 0.03 | 19.73 | 5.41M |
EHL | EMECO HOLDINGS LTD | 1 | 19.67 | 368.55M |
TON | TRITON MINERALS LTD | 0.02 | 19.6 | 22.69M |
MNY | MONEY3 CORP LTD | 1.82 | 19.58 | 336.85M |
SST | STEAMSHIPS TRADING COMPANY | 12 | 19.55 | 372.10M |
ATS | AUSTRALIS OIL & GAS LTD | 0.03 | 19.54 | 24.65M |
ORR | ORECORP LTD | 0.3 | 19.5 | 81.29M |
DXN | DXN LTD | 0.03 | 19.43 | 13.67M |
PCG | PENGANA CAPITAL GROUP LTD | 1.1 | 19.3 | 113.43M |
GRB | GAGE ROADS BREWING CO | 0.05 | 19.26 | 59.31M |
GOW | GOWING BROS LIMITED | 1.8 | 19.25 | 96.84M |
TNY | TINYBEANS GROUP PTY LTD | 0.83 | 19.25 | 37.09M |
FXL | FLEXIGROUP LTD | 1.05 | 19.04 | 414.11M |
DEV | DEVEX RESOURCES LTD | 0.03 | 19.03 | 5.71M |
FBR | FBR LTD | 0.02 | 18.97 | 38.80M |
MYR | MYER HOLDINGS LTD | 0.23 | 18.95 | 188.89M |
TIE | TIETTO MINERALS LTD | 0.15 | 18.93 | 53.27M |
IGL | IVE GROUP LTD | 1.21 | 18.84 | 179.33M |
GSW | GETSWIFT LTD | 0.3 | 18.79 | 56.56M |
A1M | AIC MINES LTD | 0.23 | 18.77 | 11.96M |
PGL | PROSPA GROUP LTD | 0.94 | 18.74 | 152.48M |
BDC | BARDOC GOLD LTD | 0.05 | 18.74 | 66.99M |
CVN | CARNARVON PETROLEUM LTD | 0.15 | 18.63 | 234.66M |
ROG | RED SKY ENERGY LTD | 0 | 18.62 | 1.63M |
AMS | ATOMOS LTD | 0.48 | 18.6 | 89.62M |
MNF | MNF GROUP LTD | 3.2 | 18.59 | 269.59M |
VRT | VIRTUS HEALTH LTD | 3.09 | 18.54 | 248.40M |
CAY | CANYON RESOURCES LTD | 0.08 | 18.53 | 39.93M |
SO4 | SALT LAKE POTASH LTD | 0.42 | 18.41 | 121.92M |
HCH | HOT CHILI LTD | 0.01 | 18.37 | 25.91M |
BMN | BANNERMAN RESOURCES LTD | 0.02 | 18.36 | 24.35M |
REG | REGIS HEALTHCARE LTD | 1.17 | 18.34 | 353.38M |
E2E | EON NRG LTD | 0 | 18.3 | 769.89k |
KSL | KINA SECURITIES LTD | 0.96 | 18.28 | 168.63M |
FWD | FLEETWOOD CORP LTD | 1.24 | 18.28 | 116.84M |
SPQ | SUPERIOR RESOURCES LTD | 0 | 18 | 2.24M |
BKT | BLACK ROCK MINING LTD | 0.03 | 17.96 | 16.98M |
ERX | EXORE RESOURCES LTD | 0.04 | 17.92 | 22.80M |
MZZ | MATADOR MINING LIMITED | 0.12 | 17.9 | 13.94M |
RXP | RXP SERVICES LTD | 0.26 | 17.86 | 42.69M |
MYS | MYSTATE LTD | 4.14 | 17.85 | 378.71M |
MOE | MOELIS AUSTRALIA LTD | 3.09 | 17.77 | 456.21M |
MRM | MMA OFFSHORE LTD | 0.09 | 17.63 | 80.54M |
YOJ | YOJEE LTD | 0.02 | 17.57 | 18.68M |
VVA | VIVA LEISURE LTD | 1.44 | 17.43 | 86.61M |
NET | NETLINKZ LTD | 0.05 | 17.38 | 92.50M |
JHC | JAPARA HEALTHCARE LTD | 0.51 | 17.24 | 136.30M |
VRS | VERIS LTD | 0.03 | 17.23 | 10.46M |
RNO | RHINOMED LTD | 0.1 | 17.17 | 16.92M |
DCC | DIGITALX LTD | 0.01 | 17.05 | 8.48M |
CG1 | CARBONXT GROUP LTD | 0.23 | 16.93 | 24.60M |
GRR | GRANGE RESOURCES LTD | 0.17 | 16.77 | 202.53M |
ADJ | ADSLOT LTD | 0.01 | 16.74 | 20.28M |
SPZ | SMART PARKING LTD | 0.14 | 16.59 | 52.09M |
RVR | RED RIVER RESOURCES LTD | 0.05 | 16.5 | 27.88M |
DWS | DWS LTD | 0.73 | 16.47 | 95.58M |
MXC | MGC PHARMACEUTICALS LTD | 0.02 | 16.4 | 22.44M |
MVF | MONASH IVF GROUP LTD | 0.69 | 15.78 | 161.51M |
HFR | HIGHFIELD RESOURCES LTD | 0.34 | 15.56 | 113.69M |
CGL | CITADEL GROUP LTD/THE | 2.15 | 15.55 | 121.91M |
REE | RAREX LTD | 0.01 | 15.41 | 4.37M |
MOC | MORTGAGE CHOICE LTD | 0.75 | 15.29 | 93.75M |
ATU | ATRUM COAL LTD | 0.15 | 15.27 | 71.72M |
CAG | CAPE RANGE LTD | 0.28 | 15.2 | 23.01M |
EMD | EMERALD CLINICS | 0.06 | 15.17 | 11.95M |
EOF | ECOFIBRE LTD | 1.46 | 14.74 | 459.84M |
FRM | FARM PRIDE FOODS LTD | 0.16 | 14.5 | 8.83M |
EHE | ESTIA HEALTH LTD | 1.42 | 14.49 | 372.05M |
AMA | AMA GROUP LTD | 0.35 | 14.45 | 256.03M |
NTO | NITRO SOFTWARE LTD | 0.95 | 14.4 | 180.43M |
OIL | OPTISCAN IMAGING LTD | 0.01 | 14.3 | 7.17M |
AQZ | ALLIANCE AVIATION SERVICES | 1.65 | 14.23 | 210.33M |
AU8 | AUMAKE INTERNATIONAL LTD | 0.04 | 14.07 | 13.30M |
MRG | MURRAY RIVER ORGANICS GROUP | 0.01 | 14.06 | 22.06M |
KAR | KAROON ENERGY LTD | 0.39 | 13.88 | 215.66M |
BLY | BOART LONGYEAR LTD | 0.52 | 13.84 | 45.63M |
WGN | WAGNERS HOLDING CO LTD | 0.97 | 13.79 | 181.58M |
CPT | CIPHERPOINT LTD | 0.03 | 13.63 | 1.02M |
PNC | PIONEER CREDIT LTD | 1.27 | 13.39 | 80.83M |
ECS | ECS BOTANICS HOLDINGS LTD | 0.02 | 13.02 | 10.66M |
CDY | CELLMID LTD | 0.1 | 13.02 | 9.66M |
EUR | EUROPEAN LITHIUM LTD | 0.05 | 12.73 | 28.57M |
BIR | BIR FINANCIAL LTD | 0.06 | 12.72 | 4.88M |
OML | OOH!MEDIA LTD | 1.55 | 12.62 | 375.70M |
VRL | VILLAGE ROADSHOW LTD | 2.16 | 11.5 | 421.64M |
EQE | EQUUS MINING LTD | 0 | 11.43 | 7.04M |
OPY | OPENPAY GROUP LTD | 0.47 | 11.36 | 44.09M |
RDH | REDHILL EDUCATION LTD | 0.88 | 11.19 | 27.12M |
ALG | ARDENT LEISURE GROUP LTD | 0.37 | 10.55 | 175.09M |
COG | CONSOLIDATED OPERATIONS GROUP | 0.05 | 10 | 75.44M |
TGA | THORN GROUP LTD | 0.07 | 9.13 | 22.56M |
A2B | A2B AUSTRALIA LTD | 0.71 | 7.24 | 85.51M |
HLO | HELLOWORLD TRAVEL LTD | 1.64 | 4.61 | 204.54M |