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:
It’s been over three weeks since National Veterinary Care (ASX:NVL) got a takeover offer but it’s been running hot ever since. It is the second veterinary stock to be snapped up in as many years – following Greencross.
Although the only major news out of The Reject Shop (ASX:TRS) in recent days has been a substantial shareholder buying, there have been signs in recent months that the financial position of the discount retailer is turning around.
While everyone was on holidays Challenger Exploration (ASX:CEL) reported some good gold results from its project in Ecuador and last week increased its landholding by 830 per cent. It also helps that gold has continued to rally in recent days in light of the US-Iran situation.
Aerial mapping firm Aerometrex (ASX:AMX) was one of last year’s best IPOs and it continues to run hot in the new year.
|Code||Name||Price||2 Week RSI||Market Cap|
|ADA||ADACEL TECHNOLOGIES LTD||0.74||90||56.42M|
|NVL||NATIONAL VETERINARY CARE LTD||3.65||89.71||245.07M|
|BRI||BIG RIVER INDUSTRIES LTD||1.47||88.56||91.83M|
|MNS||MAGNIS ENERGY TECHNOLOGIES L||0.14||81||87.23M|
|ADD||ADAVALE RESOURCES LTD||0.03||78.97||5.41M|
|SND||SAUNDERS INTERNATIONAL LTD||0.36||77.3||37.70M|
|BFG||BELL FINANCIAL GROUP LTD||1.31||75.45||420.17M|
|HIT||HITECH GROUP AUSTRALIA LTD||1.34||75.44||50.99M|
|IGL||IVE GROUP LTD||2.5||75.36||370.52M|
|LKE||LAKE RESOURCES NL||0.05||75.08||27.01M|
|PSC||PROSPECT RESOURCES LTD||0.23||74.96||55.37M|
|RAC||RACE ONCOLOGY LTD||0.23||74.86||25.10M|
|HAV||HAVILAH RESOURCES LTD||0.13||74.47||33.15M|
|ABV||ADVANCED BRAKING TECHNOLOGY||0.04||74.06||14.79M|
|SAVE||PINNACLE ASHARES GB DYN INC||10.73||73.95||5.85M|
|AXI||AXIOM PROPERTIES LTD||0.05||73.94||22.07M|
|MCX||MARINER CORP LTD||0.06||73.39||3.12M|
|AU8||AUMAKE INTERNATIONAL LTD||0.14||73.36||44.88M|
|CEL||CHALLENGER EXPLORATION LTD||0.12||73.16||54.07M|
|ED1||EVANS DIXON LTD||1.05||72.81||245.85M|
|TRS||REJECT SHOP LTD/THE||3.9||71.65||112.74M|
|CUE||CUE ENERGY RESOURCES LTD||0.14||71.53||101.23M|
|TMR||TEMPUS RESOURCES LTD||0.25||71.34||10.41M|
|XST||XSTATE RESOURCES LTD||0.004||71.18||5.70M|
|WWI||WEST WITS MINING LTD||0.01||71.04||12.19M|
|88E||88 ENERGY LTD||0.02||70.9||164.92M|
|BRN||BRAINCHIP HOLDINGS LTD||0.05||70.89||73.56M|
|EGD||EVANS & PARTNERS GLOBAL DISR||2.36||70.68||301.68M|
|TSC||TWENTY SEVEN CO LTD||0.01||70.48||12.19M|
|APD||APN PROPERTY GROUP LTD||0.64||70.29||203.53M|
|SPX||SPECTRUM METALS LTD||0.09||70.25||121.93M|
The only ASX stock substantially involved with fire-decimated Kangaroo Island, Kangaroo Island Plantation Timbers (ASX:KPT) was running cold. That is, until it entered voluntary suspension until the end of the month while it assesses the damage.
Metminco (ASX:MNC) also ran cold as it announced the sale of a legacy project in Chile was delayed.
|Code||Name||Price||2 Week RSI||Market Cap|
|KPT||KANGAROO ISLAND PLANTATION LTD||1.96||29.09||110.59M|
|CIO||CONNECTED IO LTD||0.003||28.89||7.22M|
|TGH||TERRAGEN HOLDINGS LTD||0.17||28.86||32.69M|
|HT8||HARRIS TECHNOLOGY GROUP LTD||0.01||27.98||1.71M|
|PNC||PIONEER CREDIT LTD||1.8||27.8||114.12M|
|ADY||ADMIRALTY RESOURCES NL||0.01||27.75||6.95M|
|GSM||GOLDEN STATE MINING LTD||0.05||27.51||1.90M|
|ARC||AUSTRALIAN RURAL CAPITAL LTD||0.28||27.25||3.56M|
|DME||DOME GOLD MINES LTD||0.16||25.86||46.37M|
|8EC||8IP EMERGING COS LTD||0.07||25.16||2.99M|
|OKR||OKAPI RESOURCES LTD||0.1||24.81||3.57M|
|8VI||8VIC HOLDINGS LTD||0.19||24.64||7.91M|
|LHB||LIONHUB GROUP LTD||0.003||24.08||2.48M|
|MXR||MAXIMUS RESOURCES LTD||0.05||23.92||1.57M|
|BYI||BEYOND INTERNATIONAL LTD||0.8||22.07||49.07M|
|TIA||TIAN AN AUSTRALIA LTD||0.36||22.07||31.18M|
|SRI||SIPA RESOURCES LTD||0.07||21.57||9.96M|
|UUL||ULTIMA UNITED LTD||0.02||19.69||469.21k|
|BIR||BIR FINANCIAL LTD||0.08||18.72||6.50M|
|TNP||TRIPLE ENERGY LTD||0.01||17.71||575.97k|
|SST||STEAMSHIPS TRADING COMPANY||12.5||17.32||387.60M|
|REY||REY RESOURCES LTD||0.22||13.88||45.62M|