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.
The almost unprecedented level of market carnage over the past five days has had a marked effect on the composition of this week’s list.
Usually there’s at least 40 stocks that register an RSI above 70. This week, there were only 15. In addition, all 47 stocks in last week’s Running Hot list crashed out; each of the 15 companies that made the cut were new entrants.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, February 28:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price | 2 Week RSI | Market Cap ($) |
---|---|---|---|---|
CWL | CHANT WEST HOLDINGS LTD | 0.1 | 84.24 | 12.68M |
NCL | NETCCENTRIC LTD | 0.03 | 82.35 | 7.61M |
DGO | DGO GOLD LTD | 2.06 | 80.59 | 72.53M |
ZGL | ZICOM GROUP LTD | 0.12 | 79.59 | 26.06M |
CRM | CARBON MINERALS LTD | 0.28 | 76.05 | 5.26M |
PTL | PENTAL LTD | 0.4 | 75.24 | 54.50M |
AUT | AUTECO MINERALS LTD | 0.04 | 74.59 | 44.96M |
KRR | KING RIVER RESOURCES LTD | 0.04 | 74.29 | 47.45M |
MDI | MIDDLE ISLAND RESOURCES LTD | 0.01 | 74.01 | 19.42M |
SBW | SHEKEL BRAINWEIGH LTD | 0.18 | 73.73 | 25.02M |
AQI | ALICANTO MINERALS LTD | 0.09 | 72.69 | 23.31M |
NVL | NATIONAL VETERINARY CARE LTD | 3.67 | 71.81 | 246.81M |
AME | ALTO METALS LTD | 0.06 | 71.76 | 17.60M |
R3D | R3D GLOBAL LTD | 0.05 | 70.41 | 2.26M |
BRI | BIG RIVER INDUSTRIES LTD | 1.65 | 70.31 | 103.07M |
Equally so, the fallout from the COVID-19 calamity was also felt at the “cold” end of town, except in the opposite direction. Where there’s usually upwards of 60 stocks on the Running Cold list, this week the figure rose to 200!
As a result, we tightened the rules a bit; only stocks with an RSI reading of 25 or below (rather than 30) made the cut, which reduced the number of stocks to 55. Of those, 39 companies were new entrants.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, February 28:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price ($) | 2 Week RSI | Market Cap |
---|---|---|---|---|
KAR | KAROON ENERGY LTD | 0.88 | 24.96 | 486.63M |
VOL | VICTORY OFFICES LTD | 1.5 | 24.95 | 61.35M |
CPH | CRESO PHARMA LTD | 0.09 | 24.88 | 19.74M |
TNY | TINYBEANS GROUP PTY LTD | 1.25 | 24.87 | 55.85M |
SIO | SIMONDS GROUP LTD | 0.34 | 24.82 | 49.63M |
CG1 | CARBONXT GROUP LTD | 0.34 | 24.71 | 36.37M |
GGG | GREENLAND MINERALS LTD | 0.1 | 24.71 | 115.53M |
AU8 | AUMAKE INTERNATIONAL LTD | 0.07 | 24.39 | 23.27M |
KME | KIP MCGRATH EDUCATION CENTRE | 1.02 | 24.37 | 46.14M |
CPV | CLEARVUE TECHNOLOGIES LTD | 0.13 | 24.26 | 13.89M |
STG | STRAKER TRANSLATIONS LTD | 0.99 | 24.04 | 52.57M |
BEL | BENTLEY CAPITAL LTD | 0.03 | 24.04 | 2.06M |
ALG | ARDENT LEISURE GROUP LTD | 0.99 | 23.98 | 474.91M |
PGC | PARAGON CARE LTD | 0.22 | 23.81 | 72.65M |
AEE | AURA ENERGY LTD | 0.005 | 23.61 | 6.36M |
PPS | PRAEMIUM LTD | 0.38 | 23.4 | 155.18M |
SEC | SPHERIA EMERGING CO LTD | 1.62 | 23.25 | 107.47M |
ATS | AUSTRALIS OIL & GAS LTD | 0.06 | 23.24 | 58.17M |
CL1 | CLASS LTD | 1.6 | 23.07 | 196.41M |
VHT | VOLPARA HEALTH TECHNOLOGIES | 1.47 | 23.06 | 319.84M |
SFM | SANTA FE MINERALS LTD | 0.06 | 23.02 | 4.66M |
ODM | ODIN METALS LTD | 0.05 | 22.76 | 8.84M |
MOC | MORTGAGE CHOICE LTD | 1 | 22.74 | 125.00M |
SPZ | SMART PARKING LTD | 0.19 | 22.6 | 66.45M |
GOW | GOWING BROS LIMITED | 2.12 | 22.54 | 114.13M |
CDM | CADENCE CAPITAL LTD | 0.68 | 22.47 | 216.20M |
FAR | FAR LTD | 0.03 | 22.29 | 249.47M |
NEU | NEUREN PHARMACEUTICALS LTD | 2.12 | 22.28 | 218.72M |
NET | NETLINKZ LTD | 0.06 | 22.28 | 116.61M |
SE1 | SENSERA LTD | 0.01 | 22.2 | 2.90M |
TNP | TRIPLE ENERGY LTD | 0.01 | 22.12 | 575.97k |
OVH | ONEVUE HOLDINGS LTD | 0.26 | 22.11 | 71.00M |
RVR | RED RIVER RESOURCES LTD | 0.08 | 21.9 | 39.23M |
CVN | CARNARVON PETROLEUM LTD | 0.26 | 21.76 | 414.56M |
WEL | WINCHESTER ENERGY LTD | 0.03 | 21.59 | 21.32M |
RXP | RXP SERVICES LTD | 0.39 | 21.42 | 62.83M |
SOP | SYNERTEC CORP LTD | 0.02 | 21.11 | 5.30M |
BWF | BLACKWALL LTD | 0.5 | 20.69 | 31.57M |
AMA | AMA GROUP LTD | 0.58 | 20.55 | 427.93M |
OCC | ORTHOCELL LTD | 0.37 | 20.39 | 67.42M |
SPT | SPLITIT PAYMENTS LTD | 0.42 | 19.95 | 130.84M |
RIC | RIDLEY CORP LTD | 0.9 | 19.79 | 280.13M |
HE8 | HELIOS ENERGY LTD | 0.13 | 19.3 | 200.20M |
CAY | CANYON RESOURCES LTD | 0.12 | 19.3 | 59.90M |
IGL | IVE GROUP LTD | 1.86 | 18.94 | 275.67M |
TER | TERRACOM LTD | 0.2 | 18.28 | 100.34M |
WGN | WAGNERS HOLDING CO LTD | 1.44 | 18.07 | 269.56M |
HLO | HELLOWORLD TRAVEL LTD | 3.52 | 17 | 439.02M |
GED | GOLDEN DEEPS LTD | 0.01 | 16.86 | 2.81M |
ARQ | ARQ GROUP LTD | 0.16 | 16.81 | 19.54M |
DYL | DEEP YELLOW LTD | 0.19 | 16.62 | 46.49M |
TOP | THORNEY OPPORTUNITIES LTD | 0.57 | 15.84 | 117.08M |
PMC | PLATINUM CAPITAL LTD | 1.34 | 13.28 | 388.05M |
PGX | PRIMERO GROUP LTD | 0.25 | 13.28 | 43.05M |
UUL | ULTIMA UNITED LTD | 0.02 | 13.23 | 469.21k |