Hot Money Monday: The most in-demand stocks on the ASX right now
Experts
Experts
Each Monday, Stockhead recaps which stocks are heavily demanded by investors – or running hot.
Stockhead uses 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 the first edition of Hot Money, which includes a more detailed description of what the RSI does and how it’s used.
Here is this week’s list:
The ‘hottest’ stock was gold explorer Spectrum Metals (ASX: SPX) which continues to find gold at Penny North. A $7 million capital raise on Thursday halted its growth.
One notable buyer in the last fortnight was prominent mining investor Anthony Barton.
The next two show what a takeover bid or long overdue clean-out of the board can do for a share price. Second is Pacific Energy (ASX: PEA) which has announced that QIC Capital wanted to acquire it.
Also, lower on the list are fellow takeover targets GBST Holdings (ASX: GBT) and Cynata Therapeutics (ASX: CYP).
Third on the ‘running hot’ list is toy retailer Funtastic (ASX: FUN). Chairman Shane Tanner quit after serving on the board for 10 years. He will be replaced by World Retail Congress advisory board member Bernie Brookes AM.
While it has been a few weeks since Toy Story 4 was released, perhaps it’s also having the knock-on effect it hoped for.
PointsBet (ASX: PBH) ran hot as it announced a plan to build its own casino in Colorado and a roll out in five other US states.
YPB Group (ASX: YPB) announced it had dished out 100 million Protect Codes and reduced its cash burn. But a $1.6 million capital raise announced on Friday sent it down 25 per cent.
Strong results at a gas well belonging to Strike Energy (ASX: STX) and Warrego Energy (ASX: WGO) put both stocks on our ‘hot money’ list.
Code | Name | Price (1pm Friday) | 14 Day RSI | Market Cap |
---|---|---|---|---|
SPX | SPECTRUM METALS LTD | 0.08 | 92.23 | 108.75M |
PEA | PACIFIC ENERGY LTD | 0.98 | 88.95 | 419.34M |
FUN | FUNTASTIC LTD | 0.07 | 83.46 | 15.62M |
YPB | YPB GROUP LTD | 0.009 | 83.31 | 11.00M |
WGO | WARREGO ENERGY LTD | 0.18 | 83.16 | 106.26M |
DN8 | DREAMSCAPE NETWORKS LTD | 0.26 | 82.43 | 103.26M |
MCP | MCPHERSON'S LTD | 1.82 | 81.64 | 196.93M |
CYP | CYNATA THERAPEUTICS LTD | 1.79 | 81.07 | 183.39M |
WLL | WELLCOM GROUP LTD | 6.8 | 80.96 | 268.71M |
ARS | ALT RESOURCES LTD | 0.03 | 80.03 | 12.28M |
MDC | MEDLAB CLINICAL LTD | 0.47 | 79.89 | 100.14M |
KOV | KORVEST LTD | 3.45 | 79.62 | 38.77M |
HLA | HEALTHIA LTD | 1.06 | 79.51 | 66.82M |
AGY | ARGOSY MINERALS LTD | 0.12 | 78.86 | 131.89M |
GBT | GBST HOLDINGS LTD | 3.88 | 78.37 | 264.18M |
LYL | LYCOPODIUM LTD | 6.09 | 78.01 | 240.38M |
GLL | GALILEE ENERGY LTD | 1.1 | 77.45 | 248.25M |
TML | TIMAH RESOURCES LTD | 0.06 | 77.32 | 5.82M |
RXL | ROX RESOURCES LTD | 0.02 | 77.3 | 28.41M |
IP1 | INTEGRATED PAYMENT TECHNOLOG | 0.04 | 76.69 | 11.43M |
STX | STRIKE ENERGY LTD | 0.13 | 76.52 | 186.04M |
CHR | CHALMERS LTD | 7.1 | 76.18 | 54.06M |
SOR | STRATEGIC ELEMENTS LTD | 0.06 | 75.2 | 13.85M |
DRO | DRONESHIELD LTD | 0.3 | 74.77 | 58.01M |
CXZ | CONNEXION TELEMATICS LTD | 0.02 | 74.1 | 19.55M |
IMU | IMUGENE LTD | 0.02 | 73.84 | 86.64M |
PAA | PHARMAUST LTD | 0.08 | 73.57 | 22.98M |
RMC | RESIMAC GROUP LTD | 0.75 | 73.46 | 312.46M |
PSZ | PS&C LTD | 0.08 | 73.45 | 19.26M |
AFG | AUSTRALIAN FINANCE GROUP LTD | 1.94 | 73.2 | 416.74M |
PBH | POINTSBET HOLDINGS LTD | 3.32 | 73.09 | 372.90M |
RZI | RAIZ INVEST LTD | 0.78 | 73.04 | 49.67M |
EGH | EUREKA GROUP HOLDINGS LTD | 0.29 | 73.03 | 66.71M |
AHQ | ALLEGIANCE COAL LTD | 0.15 | 72.99 | 81.85M |
KAR | KAROON ENERGY LTD | 1.51 | 72.83 | 389.38M |
CGN | CRATER GOLD MINING LTD | 0.02 | 72.83 | 27.00M |
MSG | MCS SERVICES LTD | 0.02 | 72.77 | 3.94M |
NVL | NATIONAL VETERINARY CARE LTD | 2.48 | 72.74 | 166.16M |
TLM | TALISMAN MINING LTD | 0.09 | 72.61 | 16.90M |
PTX | PRESCIENT THERAPEUTICS LTD | 0.05 | 72.58 | 20.50M |
VMC | VENUS METALS CORP LTD | 0.25 | 72.4 | 27.18M |
BET | BETMAKERS TECHNOLOGY GROUP L | 0.07 | 72.35 | 28.53M |
KZR | KALAMAZOO RESOURCES LIMITED | 0.27 | 72.23 | 27.36M |
NWE | NORWEST ENERGY NL | 0.003 | 72.13 | 13.53M |
SKY | SKY METALS LTD | 0.06 | 71.79 | 16.28M |
ABA | AUSWIDE BANK LTD | 5.51 | 71.72 | 232.85M |
AGS | ALLIANCE RESOURCES LTD | 0.1 | 71.58 | 16.07M |
RBL | REDBUBBLE LTD | 1.35 | 71.12 | 338.13M |
TPC | TPC CONSOLIDATED LTD | 0.85 | 71.08 | 9.55M |
VRT | VIRTUS HEALTH LTD | 5.18 | 71.08 | 415.61M |
RED | RED 5 LTD | 0.28 | 71.06 | 323.53M |
BDA | BOD AUSTRALIA LTD | 0.61 | 70.97 | 51.40M |
ETE | ENTEK ENERGY LTD | 0.01 | 70.78 | 4.90M |
CLX | CTI LOGISTICS LTD | 0.98 | 70.74 | 76.55M |
BPL | BROKEN HILL PROSPECTING LTD | 0.03 | 70.56 | 5.18M |
BDC | BARDOC GOLD LTD | 0.08 | 70.4 | 99.33M |
PYC | PHYLOGICA LTD | 0.03 | 70.37 | 81.84M |
CLI | CROPLOGIC LTD | 0.08 | 70.09 | 29.55M |
NEU | NEUREN PHARMACEUTICALS LTD | 1.5 | 70.08 | 156.82M |
KCN | KINGSGATE CONSOLIDATED LTD | 0.34 | 70.07 | 73.52M |
SNL | SUPPLY NETWORK LTD | 4.02 | 70.01 | 163.86M |
Embattled investment company Lionhub (ASX: LHB) had the lowest RSI. Last week, its quarterly revealed its only revenue was from the issue of convertible notes and has only $25,000 left in the bank.
A curious spotting was scaffold lessor Oldfields Holdings (ASX: OLH) which is present despite surging 60 per cent on Friday for no apparent reason.
Code | Name | Price (1pm Friday) | 14 Day RSI | Market Cap |
---|---|---|---|---|
ARQ | ARQ GROUP LTD | 0.65 | 29.79 | 81.22M |
BID | BIDENERGY LTD | 0.59 | 29.76 | 67.27M |
PRZ | PARAZERO LTD | 0.06 | 29.75 | 7.61M |
KNL | KIBARAN RESOURCES LTD | 0.1 | 29.44 | 29.26M |
AON | APOLLO MINERALS LTD | 0.04 | 29.31 | 6.39M |
CPH | CRESO PHARMA LTD | 0.38 | 29.13 | 55.31M |
INP | INCENTIAPAY LTD | 0.03 | 28.91 | 8.01M |
CMD | CASSIUS MINING LTD | 0.013 | 28.89 | 3.40M |
RFX | REDFLOW LTD | 0.03 | 28.86 | 28.33M |
TTL | TRANSCENDENCE TECHNOLOGIES | 0.009 | 28.79 | 1.56M |
CAP | CARPENTARIA RESOURCES LTD | 0.05 | 28.66 | 11.83M |
EMU | EMU NL | 0.03 | 28.34 | 5.37M |
AQC | AUSTRALIAN PACIFIC COAL LTD | 0.38 | 27.93 | 19.44M |
SGH | SLATER & GORDON LTD | 1.49 | 27.92 | 103.60M |
FDM | FREEDOM OIL AND GAS LTD | 0.014 | 27.78 | 16.16M |
OBM | ORA BANDA MINING LTD | 0.22 | 27.18 | 102.15M |
NMT | NEOMETALS LTD | 0.19 | 26.98 | 103.44M |
ENE | ENEVIS LTD | 0.17 | 26.97 | 11.32M |
HT8 | HARRIS TECHNOLOGY GROUP LTD | 0.013 | 26.64 | 2.41M |
ARC | AUSTRALIAN RURAL CAPITAL LTD | 0.36 | 26.48 | 4.50M |
KPE | KINA PETROLEUM CORP | 1.1 | 26.39 | 14.10M |
UUL | ULTIMA UNITED LTD | 0.03 | 26.19 | 733.14k |
GMV | G MEDICAL INNOVATION HOLDING | 0.14 | 26.12 | 63.70M |
IGN | IGNITE LTD | 0.04 | 25.11 | 3.76M |
NUH | NUHEARA LTD | 0.04 | 24.29 | 42.49M |
OLH | OLDFIELDS HOLDINGS LTD | 0.05 | 23.07 | 2.47M |
MHI | MERCHANT HOUSE INTL LTD | 0.07 | 20.54 | 6.88M |
N1H | N1 HOLDINGS LTD | 0.03 | 17.79 | 2.45M |
LHB | LIONHUB GROUP LTD | 0.005 | 16.77 | 4.13M |