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.
Here’s this week’s list:
Running Hot
Health solutions provider Konekt (ASX:KKT) has been running hot for a few weeks since getting a takeover bid.
Last week the bidder, Advanced Personnel Management, upped its offer to 70c per share. The directors recommended again that shareholders accept the offer.
MetalsTech (ASX:MTC) also made this week’s list. On Thursday it surged 500 per cent with news it was seeking to buy a gold project in Slovakia.
Prescient Therapeutics (ASX:PTX) has enjoyed a solid run in the last fortnight. It commenced a phase 1b trial for its anti-cancer drug PTX-100 and announced a collaboration with a private company that is developing stem cell therapies using a patient’s own immune system.
Non-bank lender Resimac (ASX:RMC) has run hot since a solid financial update last week. It has nearly $11 billion in assets under management and anticipates a $24m-$27m first half profit.
| Code | Name | Price | 2 Week RSI | Market Cap |
|---|---|---|---|---|
| KKT | KONEKT LTD | 0.71 | 90.61 | 68.23M |
| IMU | IMUGENE LTD | 0.06 | 88.83 | 216.89M |
| IKW | IKWEZI MINING LTD | 0.004 | 86.43 | 12.20M |
| AMT | ALLEGRA ORTHOPAEDICS LTD | 0.24 | 83.01 | 23.89M |
| CSV | CSG LTD | 0.31 | 82.98 | 137.02M |
| HIL | HILLS LTD | 0.33 | 82.67 | 76.56M |
| WGN | WAGNERS HOLDING CO LTD | 2.21 | 80.64 | 380.33M |
| SHJ | SHINE CORPORATE LTD | 0.93 | 80.47 | 168.06M |
| VLT | VAULT INTELLIGENCE LTD | 0.5 | 79.97 | 66.56M |
| MLD | MACA LTD | 1.13 | 79.28 | 300.17M |
| OCL | OBJECTIVE CORPORATION LTD | 5.04 | 77.72 | 468.61M |
| EGH | EUREKA GROUP HOLDINGS LTD | 0.34 | 77.22 | 78.21M |
| BOC | BOUGAINVILLE COPPER LTD | 0.24 | 77.21 | 62.16M |
| ARL | ARDEA RESOURCES LTD | 0.75 | 76.93 | 86.80M |
| QMS | QMS MEDIA LTD | 1.22 | 76.8 | 418.86M |
| RMC | RESIMAC GROUP LTD | 1.18 | 76.45 | 459.43M |
| MAG | MAGMATIC RESOURCES LTD | 0.17 | 75.72 | 24.49M |
| VMT | VMOTO LTD | 0.28 | 75.12 | 60.69M |
| APV | APPSVILLAGE AUSTRALIA LTD | 0.38 | 74.85 | 30.00M |
| ADT | ADRIATIC METALS PLC-CDI | 1.47 | 74.78 | 246.84M |
| ADO | ANTEOTECH LTD | 0.02 | 74.73 | 29.89M |
| MTC | METALSTECH LTD | 0.07 | 74.71 | 7.72M |
| CMP | COMPUMEDICS LTD | 0.87 | 74.47 | 155.90M |
| BRI | BIG RIVER INDUSTRIES LTD | 1.3 | 73.92 | 81.21M |
| MCX | MARINER CORP LTD | 0.06 | 73.4 | 892.98k |
| MRR | MINREX RESOURCES LTD | 0.01 | 73.17 | 1.34M |
| AEF | AUSTRALIAN ETHICAL INVT LTD | 3.49 | 73.06 | 385.60M |
| OLH | OLDFIELDS HOLDINGS LTD | 0.08 | 72.1 | 6.90M |
| CCV | CASH CONVERTERS INTL LTD | 0.25 | 71.8 | 151.03M |
| PTX | PRESCIENT THERAPEUTICS LTD | 0.09 | 71.53 | 29.18M |
| BID | BIDENERGY LTD | 0.67 | 71.33 | 86.18M |
| HLA | HEALTHIA LTD | 1.02 | 71.19 | 64.30M |
| AHZ | ADMEDUS LTD | 0.09 | 70.98 | 53.17M |
| GGX | GAS2GRID LTD | 0.01 | 70.53 | 7.54M |
| ZNO | ZOONO GROUP LTD | 0.27 | 70.4 | 40.83M |
| UWL | UNITI GROUP LTD | 1.79 | 70.23 | 464.92M |
| SKY | SKY METALS LTD | 0.11 | 70.16 | 25.47M |
| SM8 | SMART MARINE SYSTEMS LTD | 0.05 | 70.13 | 15.70M |
Running Cold
Another non-bank lender’s financials, specifically Prospa (ASX:PGL), was not as well received. It cut revenue and earnings forecasts by $13m and $7.3m respectively.
Regional Express (ASX:REX) also cut its earnings forecasts, by 30 per cent, and it too has been running cold.
Also on the list was child tracking app Life360 (ASX:360), retailer Myer (ASX:MYR) and (surprisingly considering its solid run earlier in 2019) lithium miner Liontown Resources (ASX:LTR).
| Code | Name | Price | 2 Week RSI | Market Cap |
|---|---|---|---|---|
| ISD | ISENTIA GROUP LTD | 0.29 | 29.87 | 58.00M |
| YOJ | YOJEE LTD | 0.06 | 29.72 | 52.54M |
| 360 | LIFE360 INC-CDI | 2.99 | 29.7 | 432.26M |
| SWK | SWICK MINING SERVICES LTD | 0.19 | 29.56 | 56.40M |
| LTR | LIONTOWN RESOURCES LTD | 0.08 | 29.36 | 138.54M |
| GID | GI DYNAMICS INC-CDI | 0.02 | 29.28 | 29.22M |
| MNS | MAGNIS ENERGY TECHNOLOGIES L | 0.11 | 29.17 | 65.42M |
| VR8 | VANADIUM RESOURCES LTD | 0.04 | 29.1 | 13.10M |
| MOY | MILLENNIUM MINERALS LTD | 0.05 | 29.09 | 45.46M |
| SW1 | SWIFT MEDIA LTD | 0.11 | 29.09 | 20.44M |
| SRO | SHAREROOT LTD | 0.001 | 29.01 | 2.96M |
| LSH | LIFESPOT HEALTH LTD | 0.04 | 28.92 | 3.18M |
| MLL | MALI LITHIUM LTD | 0.07 | 28.68 | 22.21M |
| GSM | GOLDEN STATE MINING LTD | 0.06 | 28.61 | 2.20M |
| DTS | DRAGONTAIL SYSTEMS LTD | 0.1 | 28.59 | 24.89M |
| CLI | CROPLOGIC LTD | 0.03 | 28.41 | 12.91M |
| MYR | MYER HOLDINGS LTD | 0.51 | 28.24 | 414.75M |
| ECG | ECARGO HOLDINGS LTD | 0.03 | 27.63 | 18.46M |
| CY5 | CYGNUS GOLD LTD | 0.03 | 27.56 | 2.00M |
| B2Y | BOUNTY MINING LTD | 0.04 | 27.34 | 15.41M |
| 2BE | TUBI PTY LTD | 0.13 | 27.3 | 30.39M |
| KSN | KINGSTON RESOURCES LTD | 0.13 | 27.08 | 22.96M |
| REX | REGIONAL EXPRESS HOLDINGS LT | 1.14 | 27.04 | 136.59M |
| AC8 | AUSCANN GROUP HOLDINGS LTD | 0.23 | 26.91 | 71.34M |
| MX1 | MICRO-X LTD | 0.22 | 26.88 | 36.30M |
| KMT | KOPORE METALS LTD | 0.003 | 26.8 | 1.93M |
| AZS | AZURE MINERALS LTD | 0.1 | 26.73 | 16.22M |
| G88 | GOLDEN MILE RESOURCES LTD | 0.05 | 26.24 | 3.21M |
| TIG | TIGERS REALM COAL LTD | 0.02 | 25.91 | 30.46M |
| SHO | SPORTSHERO LTD | 0.04 | 25.35 | 13.13M |
| BIQ | BUILDINGIQ INC-CDI | 0.01 | 25.27 | 4.79M |
| TGO | TRIMANTIUM GROWTHOPS LTD | 0.1 | 25.05 | 14.59M |
| RMT | RMA ENERGY LTD | 0.001 | 25 | 2.10M |
| CSE | COPPER STRIKE LTD | 0.03 | 24.84 | 3.53M |
| CXM | CENTREX METALS LTD | 0.04 | 24.33 | 13.57M |
| MCT | METALICITY LTD | 0.004 | 23.84 | 2.89M |
| ACB | A-CAP ENERGY LTD | 0.01 | 23.41 | 8.72M |
| BMG | BMG RESOURCES LTD | 0.003 | 23.39 | 1.73M |
| LAA | LATAM AUTOS LTD | 0.03 | 23.37 | 19.94M |
| IVX | INVION LTD | 0.01 | 23.04 | 49.51M |
| TBR | TRIBUNE RESOURCES LTD | 6.56 | 21.02 | 364.10M |
| BEL | BENTLEY CAPITAL LTD | 0.04 | 20.53 | 6.47M |
| KAS | KASBAH RESOURCES LTD | 0.02 | 17.98 | 2.66M |
| MHI | MERCHANT HOUSE INTL LTD | 0.05 | 16.88 | 4.90M |
| CAN | CANN GROUP LTD | 0.8 | 16.87 | 111.37M |
| KSC | K & S CORP LTD | 1.57 | 16.73 | 199.83M |
| ERG | ENECO REFRESH LTD | 0.06 | 16.72 | 16.07M |
| TAM | TANAMI GOLD NL | 0.04 | 14.44 | 41.13M |
| HRR | HERON RESOURCES LTD | 0.12 | 11.26 | 49.30M |
| PGL | PROSPA GROUP LTD | 2.28 | 10.91 | 338.84M |
| 8EC | 8IP EMERGING COS LTD | 0.06 | 7.55 | 29.33M |
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