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:
A little-known stock crept to the top of this week’s list, as junior coal miner Ikwezi Mining (ASX:IKW) logged an RSI reading above 90.
But it’s a bit hard to know what to make of that — the minnow explorer has operations in South Africa and listed on the ASX back in 2011. It subsequently rose to above 15c but has traded at or below 1c since 2013.
Ikwezi released its latest quarterly trading update at the start of November, which showed it booked $2.85m of cash receipts in the three months to September, and had $630k in the bank as at September 30.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 29:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price | 2 Week RSI | Market Cap |
---|---|---|---|---|
IKW | IKWEZI MINING LTD | 0.003 | 90.83 | 16.26M |
KKT | KONEKT LTD | 0.71 | 88.59 | 75.11M |
CSV | CSG LTD | 0.31 | 84.81 | 138.15M |
AMT | ALLEGRA ORTHOPAEDICS LTD | 0.25 | 84.36 | 24.89M |
RHT | RESONANCE HEALTH LTD | 0.21 | 84.09 | 91.83M |
RMY | RMA GLOBAL LTD | 0.35 | 80.37 | 146.15M |
APD | APN PROPERTY GROUP LTD | 0.59 | 79.21 | 187.63M |
AEF | AUSTRALIAN ETHICAL INVT LTD | 3.75 | 78.9 | 412.50M |
ADA | ADACEL TECHNOLOGIES LTD | 0.61 | 78.68 | 46.51M |
JAN | JANISON EDUCATION GROUP LTD | 0.46 | 78.18 | 85.33M |
QMS | QMS MEDIA LTD | 1.22 | 77.57 | 420.58M |
EGH | EUREKA GROUP HOLDINGS LTD | 0.34 | 77.22 | 78.21M |
CUP | COUNTPLUS LTD | 1.18 | 77.01 | 135.35M |
PWG | PRIMEWEST GROUP LTD | 1.15 | 74.75 | 401.51M |
OLH | OLDFIELDS HOLDINGS LTD | 0.09 | 74.48 | 7.31M |
CAT | CATAPULT GROUP INTERNATIONAL | 2.11 | 74.36 | 402.79M |
BRI | BIG RIVER INDUSTRIES LTD | 1.3 | 73.92 | 81.21M |
IGL | IVE GROUP LTD | 2.21 | 73.83 | 324.57M |
AEI | AERIS ENVIRONMENTAL LTD | 0.32 | 73.83 | 70.44M |
ASH | ASHLEY SERVICES GROUP LTD | 0.39 | 73.68 | 56.15M |
MCX | MARINER CORP LTD | 0.06 | 73.39 | 892.98k |
SNL | SUPPLY NETWORK LTD | 4.33 | 73.05 | 176.50M |
A4N | ALPHA HPA LTD | 0.19 | 72.63 | 120.10M |
NSB | NEUROSCIENTIFIC BIOPHARMACEUTICALS | 0.28 | 72.11 | 23.51M |
SLM | SALMAT LTD | 0.68 | 71.58 | 134.77M |
CYL | CATALYST METALS LTD | 3 | 71.56 | 240.59M |
ADJ | ADSLOT LTD | 0.03 | 71.24 | 46.05M |
ICS | ICSGLOBAL LTD | 1.8 | 70.97 | 19.09M |
CDY | CELLMID LTD | 0.26 | 70.72 | 25.60M |
HLA | HEALTHIA LTD | 1.08 | 70.19 | 67.76M |
CL1 | CLASS LTD | 2.3 | 70.13 | 267.09M |
No less than 54 stocks populated this week’s Running Cold list.
Of those, a fairly notable name was bringing up the tail as SME lending platform Prospa (ASX:PGL) fell to an RSI reading of just 13.66.
The stock has slumped by around 50 per cent since it released a negative trading update on November 18, where it said revenues for calendar year 2019 were projected to be around 8 per cent lower than prospectus forecasts.
And the list of pot stocks which continue to find a home on the cold-money list was evidence the sector continues to remain out of favour with investors.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, November 29:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price | 2 Week RSI | Market Cap |
---|---|---|---|---|
OEL | OTTO ENERGY LTD | 0.04 | 29.97 | 88.58M |
LHM | LAND & HOMES GROUP LTD | 0.01 | 29.83 | 7.35M |
P2P | P2P TRANSPORT LTD | 0.08 | 29.79 | 7.42M |
PGY | PILOT ENERGY LTD | 0.02 | 29.78 | 1.43M |
TZN | TERRAMIN AUSTRALIA LTD | 0.04 | 29.78 | 67.93M |
HAV | HAVILAH RESOURCES LTD | 0.09 | 29.57 | 23.17M |
CXX | CRADLE RESOURCES LTD | 0.04 | 29.55 | 7.02M |
PRX | PRODIGY GOLD NL | 0.07 | 29.54 | 39.48M |
KRR | KING RIVER RESOURCES LTD | 0.03 | 29.4 | 33.71M |
MOY | MILLENNIUM MINERALS LTD | 0.05 | 29.09 | 45.46M |
SRO | SHAREROOT LTD | 0.1 | 29.01 | 2.96M |
SRN | SUREFIRE RESOURCES NL | 0.003 | 28.92 | 1.26M |
2BE | TUBI PTY LTD | 0.13 | 28.9 | 30.39M |
ACB | A-CAP ENERGY LTD | 0.01 | 28.61 | 8.72M |
GSM | GOLDEN STATE MINING LTD | 0.06 | 28.61 | 2.20M |
TRS | REJECT SHOP LTD | 2.1 | 28.43 | 59.26M |
CLI | CROPLOGIC LTD | 0.03 | 28.41 | 12.91M |
JMS | JUPITER MINES LTD | 0.25 | 28.32 | 489.75M |
WGO | WARREGO ENERGY LTD | 0.19 | 28.18 | 138.27M |
MSR | MANAS RESOUCES LTD | 0.002 | 28.12 | 5.29M |
VR8 | VANADIUM RESOURCES LTD | 0.03 | 28.12 | 12.35M |
TIG | TIGERS REALM COAL LTD | 0.02 | 28.01 | 30.46M |
CSE | COPPER STRIKE LTD | 0.04 | 27.85 | 3.74M |
ECG | ECARGO HOLDINGS LTD | 0.03 | 27.63 | 18.46M |
AGH | ALTHEA GROUP HOLDINGS LTD | 0.39 | 27.48 | 89.82M |
PCG | PENGANA CAPITAL GROUP LTD | 1.65 | 27.1 | 168.78M |
BLT | BENITEC BIOPHARMA LTD | 0.04 | 26.92 | 9.83M |
KSC | K & S CORP LTD | 1.57 | 26.81 | 199.83M |
CXM | CENTREX METALS LTD | 0.04 | 26.55 | 13.26M |
GO2 | GO2 PEOPLE LTD | 0.02 | 26.55 | 1.89M |
SFM | SANTA FE MINERALS LTD | 0.07 | 26.46 | 5.17M |
AJX | ALEXIUM INTERNATIONAL GROUP | 0.07 | 25.67 | 28.75M |
SIS | SIMBLE SOLUTIONS LTD | 0.03 | 25.58 | 4.89M |
MCM | MC MINING LTD | 0.46 | 24.28 | 64.10M |
ISD | ISENTIA GROUP LTD | 0.25 | 24.07 | 52.00M |
ARC | AUSTRALIAN RURAL CAPITAL LTD | 0.25 | 23.99 | 3.24M |
MCT | METALICITY LTD | 0.004 | 23.84 | 2.89M |
G88 | GOLDEN MILE RESOURCES LTD | 0.04 | 23.78 | 2.93M |
TGO | TRIMANTIUM GROWTHOPS LTD | 0.09 | 23.52 | 11.81M |
TBR | TRIBUNE RESOURCES LTD | 6.26 | 23.21 | 348.56M |
HRR | HERON RESOURCES LTD | 0.12 | 22.89 | 49.30M |
RMP | RED EMPEROR RESOURCES NL | 0.01 | 22.82 | 4.73M |
AC8 | AUSCANN GROUP HOLDINGS LTD | 0.19 | 21.78 | 61.82M |
MRG | MURRAY RIVER ORGANICS GROUP | 0.05 | 21.63 | 21.69M |
VTG | VITA GROUP LTD | 1.09 | 21.26 | 178.49M |
AGS | ALLIANCE RESOURCES LTD | 0.11 | 19.67 | 16.94M |
CAZ | CAZALY RESOURCES LTD | 0.02 | 19.1 | 8.31M |
CAU | CRONOS AUSTRALIA LTD | 0.25 | 18.92 | 31.54M |
CAN | CANN GROUP LTD | 0.48 | 17.7 | 65.97M |
UUL | ULTIMA UNITED LTD | 0.02 | 17.07 | 527.86k |
BEL | BENTLEY CAPITAL LTD | 0.04 | 16.81 | 6.47M |
RFG | RETAIL FOOD GROUP LTD | 0.09 | 15.1 | 176.98M |
MHI | MERCHANT HOUSE INTL LTD | 0.05 | 14.13 | 4.34M |
PGL | PROSPA GROUP LTD | 2.02 | 13.66 | 322.70M |