Hot Money Monday: These are the most in-demand stocks on the ASX right now
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Each Monday, Stockhead recaps the ASX stocks that are running hot with investors.
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.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 20:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
OEQ | Orion Equities | 0.08 | 96 | $ 1,425,151.12 |
WTL | Wt Financial Grp Ltd | 0.06 | 95 | $ 10,000,314.00 |
CMD | Cassius Mining Ltd | 0.027 | 92 | $ 7,755,652.53 |
SAN | Sagalio Energy Ltd | 0.015 | 86 | $ 3,069,901.95 |
CNB | Carnaby Resource Ltd | 0.36 | 85 | $ 42,381,143.28 |
MAN | Mandrake Res Ltd | 0.095 | 77 | $ 28,474,866.90 |
CXU | Cauldron Energy Ltd | 0.033 | 77 | $ 15,679,982.92 |
ENX | Enegex Limited | 0.049 | 77 | $ 6,773,329.88 |
AMO | Ambertech Limited | 0.16 | 76 | $ 12,997,349.15 |
KNO | Knosys Limited | 0.13 | 75 | $ 19,348,624.88 |
EM2 | Eagle Mountain | 0.32 | 75 | $ 49,740,119.28 |
TLX | Telix Pharmaceutical | 3.25 | 75 | $ 896,486,571.50 |
HT8 | Harris Technology Gl | 0.165 | 73 | $ 38,249,322.15 |
FUN | Funtastic Limited | 0.093 | 73 | $ 88,807,690.65 |
DEG | De Grey Mining | 0.99 | 73 | $ 1,278,415,061.00 |
MCP | McPherson's Ltd | 1.93 | 73 | $ 239,393,704.77 |
MIO | Macarthur Minerals | 0.44 | 72 | $ 58,943,263.72 |
PTB | PTB Group Limited | 66.25 | 72 | $ 86,962,074.72 |
GME | GME Resources Ltd | 0.06 | 71 | $ 33,412,015.80 |
FZR | Fitzroy River Corp | 0.24 | 70 | $ 20,727,216.24 |
EMU | EMU NL | 0.042 | 70 | $ 14,847,228.31 |
TMZ | Thomson Res Ltd | 0.079 | 70 | $ 22,066,375.60 |
IVT | Inventis Limited | 0.008 | 70 | $ 7,494,926.55 |
A total of 22 stocks appeared on this week’s list, down from 29 in the week prior.
Tech advertising company engage:BDR (ASX:EN1) led the pack this week with a two-week RSI of 86.
The $12m market cap minnow had a jump in trading volumes on Thursday which saw its stock price tick higher, after announcing it had signed up five new customers for its programmatic advertising platform.
The three leaders from last week’s Running Hot list all fell out of this week’s list, while two notable retailers made their debut appearance.
One was embattled department store Myer (ASX:MYR), which slumped from 51c in January to March lows of 10c.
But steady demand in recent weeks has seen the stock climb back to a post-pandemic high of 33c.
And despite a sharp selloff in online retail stocks in the wake of recent vaccine updates, Temple & Webster (ASX:TPY) also climbed onto this week’s list with an RSI reading of 76.
TPY shares are off from their October highs above $14, but four straight winning sessions saw the stock close at $10.77 to finish the week.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, November 20:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
HMD | Heramed Limited | 0.1 | 30 | $ 12,110,910.57 |
PKO | Peako Limited | 0.025 | 24 | $ 4,735,177.93 |
VAR | Variscan Mines Ltd | 0.025 | 30 | $ 5,252,338.78 |
ENV | Enova Mining Limited | 0.023 | 30 | $ 8,127,812.26 |
DC2 | DC Two Ltd | 0.335 | 30 | $ 10,468,892.87 |
KCN | Kingsgate Consolidated | 0.67 | 22 | $ 157,227,028.30 |
AMA | AMA Group Limited | 0.735 | 28 | $ 587,122,814.40 |
KZR | Kalamazoo Resources | 0.57 | 24 | $ 78,564,860.40 |
HCT | Holista CollTech Ltd | 0.072 | 30 | $ 19,825,134.26 |
VAR | Variscan Mines Ltd | 0.025 | 30 | $ 5,252,338.78 |
MQR | Marquee Resource Ltd | 0.076 | 28 | $ 8,497,718.26 |
ENV | Enova Mining Limited | 0.023 | 30 | $ 8,127,812.26 |
KLA | Kirkland Lake Gold | 55.65 | 25 | $ 56,910,000.00 |