Hot Money Monday: The most in-demand stocks on the ASX right now
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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:
Running Hot
Stavely Minerals’ (ASX: SVY) monstrous copper discovery (with a grade of 40 per cent) made it the hottest stock in recent days. It has an RSI of 94 and it has more than quadrupled since the announcement.
After IODM (ASX: IOD) revealed Western Union as its major partner, investors have rushed to buy the stock.
This time last year Bionomics (ASX: BNO) was running cold after a failed clinical trial. But earlier this year it revealed it wasn’t their fault – some patients did not follow the instructions; and last week it announced it will do it again.
As Ian Gandel closes in on acquiring all of Alliance Resources (ASX: AGS), the stock has made it onto the running hot list.
| Code | Name | Price (2pm Friday) | 14 Day RSI | Market Cap |
|---|---|---|---|---|
| SVY | STAVELY MINERALS LTD | 1.05 | 93.57 | 157.60M |
| BNO | BIONOMICS LTD | 0.08 | 86.89 | 45.75M |
| IOD | IODM LTD | 0.13 | 83.35 | 66.24M |
| AZS | AZURE MINERALS LTD | 0.26 | 81.83 | 38.79M |
| OPC | OPTICOMM LTD | 3.3 | 81.6 | 343.45M |
| PCG | PENGANA CAPITAL GROUP LTD | 1.96 | 80.47 | 202.42M |
| PAC | PACIFIC CURRENT GROUP LTD | 6.85 | 80.27 | 326.35M |
| CLV | CLOVER CORP LTD | 3.02 | 79.82 | 488.95M |
| AAR | ANGLO AUSTRALIAN RESOURCES | 0.09 | 79.04 | 33.35M |
| EMV | EMVISION MEDICAL DEVICES LTD | 0.64 | 79.02 | 37.43M |
| NML | NAVARRE MINERALS LTD | 0.11 | 79 | 50.03M |
| AGS | ALLIANCE RESOURCES LTD | 0.14 | 78.96 | 21.57M |
| XTE | XTEK LTD | 0.7 | 78.58 | 35.33M |
| AZM | AZUMAH RESOURCES LTD | 0.03 | 78.34 | 28.38M |
| TAO | TAO COMMODITIES LTD | 0.15 | 78.08 | 4.65M |
| EAR | ECHO RESOURCES LTD | 0.34 | 77.82 | 236.79M |
| MHJ | MICHAEL HILL INTERNATIONAL L | 0.58 | 77.46 | 224.91M |
| PVD | PURA VIDA ENERGY NL | 0.02 | 77.41 | 8.65M |
| 8IH | 8I HOLDINGS LTD-CDI | 0.09 | 77.08 | 23.56M |
| TNY | TINYBEANS GROUP PTY LTD | 1.7 | 76.58 | 65.82M |
| ODA | ORCODA LTD | 0.23 | 75.98 | 24.96M |
| RMX | RED MOUNTAIN MINING LTD | 0.01 | 75.95 | 5.45M |
| SSG | SHAVER SHOP GROUP LTD | 0.6 | 75.83 | 75.23M |
| AUP | AURORA PROPERTY BUY WRITE | 2.51 | 75.57 | 4.25M |
| EUC | EUROPEAN COBALT LTD | 0.03 | 75.48 | 25.14M |
| MAG | MAGMATIC RESOURCES LTD | 0.06 | 75.29 | 6.92M |
| OAU | ORA GOLD LTD | 0.02 | 74.96 | 14.86M |
| ID8 | IDENTITII LTD | 0.58 | 74.95 | 29.99M |
| GCM | GARDA CAPITAL GROUP | 2.25 | 74.95 | 60.14M |
| VBS | VECTUS BIOSYSTEMS LTD | 0.8 | 74.83 | 18.70M |
| LSR | LODESTAR MINERALS LTD | 0.01 | 74.34 | 7.49M |
| VVA | VIVA LEISURE LTD | 2.11 | 74.27 | 109.41M |
| ERX | EXORE RESOURCES LTD | 0.1 | 74.26 | 49.04M |
| PAR | PARADIGM BIOPHARMACEUTICALS | 2.53 | 74.19 | 491.02M |
| AQX | ALICE QUEEN LTD | 0.04 | 74.09 | 26.06M |
| SWF | SELFWEALTH LTD | 0.25 | 74.07 | 41.74M |
| SAU | SOUTHERN GOLD LTD | 0.26 | 73.88 | 22.15M |
| TML | TIMAH RESOURCES LTD | 0.07 | 73.82 | 6.56M |
| AGJ | AGRICULTURAL LAND TRUST | 0.06 | 73.65 | 5.85M |
| DGH | DESANE GROUP HOLDINGS LTD | 1.55 | 73.37 | 63.41M |
| PBH | POINTSBET HOLDINGS LTD | 3.78 | 73.33 | 430.54M |
| ARV | ARTEMIS RESOURCES LTD | 0.04 | 73.2 | 32.97M |
| CCX | CITY CHIC COLLECTIVE LTD | 2.56 | 73.02 | 470.98M |
| GID | GI DYNAMICS INC-CDI | 0.04 | 73 | 67.16M |
| SCL | SCHROLE GROUP LTD | 0.01 | 72.96 | 12.60M |
| PEA | PACIFIC ENERGY LTD | 1.09 | 72.46 | 467.18M |
| IDT | IDT AUSTRALIA LTD | 0.17 | 72.46 | 41.47M |
| MXR | MAXIMUS RESOURCES LTD | 0.08 | 72.28 | 2.79M |
| KTA | KRAKATOA RESOURCES LTD | 0.03 | 71.98 | 4.05M |
| SRN | SUREFIRE RESOURCES NL | 0.01 | 71.98 | 6.04M |
| 4DS | 4DS MEMORY LTD | 0.07 | 71.66 | 81.78M |
| KYK | KYCKR LTD | 0.25 | 71.52 | 58.48M |
| DTM | DART MINING NL | 0.01 | 71.44 | 8.14M |
| SIT | SITE GROUP INTERNATIONAL LTD | 0.07 | 71.24 | 54.89M |
| OMN | ONEMARKET LTD | 0.96 | 71.01 | 97.69M |
| DEM | DE.MEM LTD | 0.22 | 70.95 | 34.30M |
| AFR | AFRICAN ENERGY RESOURCES-CDI | 0.02 | 70.81 | 11.28M |
| HCO | HYLEA RESOURCES LTD | 0.06 | 70.66 | 15.45M |
| GDG | GENERATION DEVELOPMENT GROUP | 0.64 | 70.56 | 80.19M |
| KPT | KANGAROO ISLAND PLANTATION T | 2.5 | 70.56 | 140.20M |
| TNR | TORIAN RESOURCES LTD | 0.02 | 70.49 | 5.05M |
| WLL | WELLCOM GROUP LTD | 6.89 | 70.1 | 270.29M |
| SFL | SPRING FG LTD | 0.05 | 70.03 | 7.84M |
| GAS | STATE GAS LTD | 0.79 | 70.03 | 112.59M |
Running Cold
The majority of stocks running cold had nothing new in recent days but have continued to be plagued by bad news a matter of weeks ago.
Australian Pacific Coal (ASX: AQC) has continued to run cold ever since it was denied a mine life extension by the NSW government three weeks ago.
Amaysim (ASX: AYS) has continued to be sold off after disappointing annual results.
One stock hit by bad news last week was ARQ Group (ASX: ARQ) which announced its CEO had quit and downgraded its earnings due to market conditions.
| Code | Name | Price (2pm Friday) | 14 Day RSI | Market Cap |
|---|---|---|---|---|
| MXC | MGC PHARMACEUTICALS LTD | 0.04 | 29.88 | 51.94M |
| AWY | AUSTRALIAN WHISKY HOLDINGS L | 0.04 | 29.78 | 52.18M |
| VR8 | VANADIUM RESOURCES LTD | 0.05 | 29.69 | 16.90M |
| WRM | WHITE ROCK MINERALS LTD | 0.01 | 29.59 | 9.82M |
| CAN | CANN GROUP LTD | 1.54 | 29.3 | 221.21M |
| CML | CHASE MINING CORPORATION LTD | 0.02 | 29.05 | 4.14M |
| CYC | CYCLOPHARM LTD | 1.09 | 28.44 | 74.41M |
| HXG | HEXAGON RESOURCES LTD | 0.06 | 28.42 | 17.22M |
| LSH | LIFESPOT HEALTH LTD | 0.05 | 28.38 | 4.11M |
| SF1 | STEMIFY LTD | 0.03 | 27.9 | 4.26M |
| EMB | EMBELTON LTD | 10.2 | 27.88 | 22.01M |
| AQZ | ALLIANCE AVIATION SERVICES L | 2.25 | 27.62 | 281.55M |
| XPL | XPLORE WEALTH LTD | 0.06 | 26.92 | 19.34M |
| MCM | MC MINING LTD | 0.51 | 25.28 | 72.55M |
| WEC | WHITE ENERGY CO LTD | 0.1 | 25.17 | 51.63M |
| OMH | OM HOLDINGS LTD | 0.44 | 24.67 | 321.30M |
| TGO | TRIMANTIUM GROWTHOPS LTD | 0.25 | 24.6 | 34.04M |
| BUD | BUDDY TECHNOLOGIES LTD | 0.02 | 23.57 | 42.91M |
| GO2 | GO2 PEOPLE LTD/THE | 0.03 | 23.54 | 3.89M |
| BEL | BENTLEY CAPITAL LTD | 0.06 | 21.27 | 6.47M |
| BMG | BMG RESOURCES LTD | 0.01 | 21.27 | 3.45M |
| AYS | AMAYSIM AUSTRALIA LTD | 0.35 | 21.11 | 107.72M |
| IGE | INTEGRATED GREEN ENERGY SOLU | 0.1 | 20.88 | 41.36M |
| LHB | LIONHUB GROUP LTD | 0.004 | 20.61 | 3.31M |
| IGN | IGNITE LTD | 0.03 | 18.67 | 2.51M |
| 8VI | 8VIC HOLDINGS LTD | 0.2 | 18.16 | 8.11M |
| MHI | MERCHANT HOUSE INTL LTD | 0.06 | 17.01 | 6.13M |
| ARQ | ARQ GROUP LTD | 0.34 | 14.15 | 40.30M |
| AQC | AUSTRALIAN PACIFIC COAL LTD | 0.14 | 12.3 | 7.32M |
| 8EC | 8IP EMERGING COS LTD | 0.08 | 6 | 29.33M |
