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

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, January 31:

Scroll or swipe to reveal table. Click headings to sort.

The tech platform held its position in this week’s Hot Money list, after a strong January which saw the stock price increase by 27 per cent.

RPM provides digital software services for the mining sector, which assists companies to plan and manage capital-intensive mining projects.

Shares in the company largely treaded water in recent years until last July, when it began to demonstrate momentum in annual recurring revenue from software subscriptions. Following its January rally, RPM has now doubled since the middle of last year.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, January 31:

Scroll or swipe to reveal table. Click headings to sort.

The industrial 3D printing company had a disappointing second half of last year, falling from above $2.50 in May to its current level below 70c.

The company raised $7m in a July placement at $1.70 per share, and in November announced it had built the world’s largest additive manufactured titanium rocket.

But the company’s appearance this week on the Running cold list suggests that markets are now looking for evidence of contract wins and material revenue streams.

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