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.

Running Hot

As Australian stocks head into a bear market amid the COVID-19 crisis, the number of stocks on the Running Hot list continued to dwindle.

Last week there were only 15, and this week there were just 10. (Usually there’s at least 40 stocks that register an RSI above 70).

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, March 6:

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

Running Cold

As with last week, we had to cull the number of stocks on the Running Cold list, which once again ran into the hundreds.

While the market selloff continues we’e only included companies with an RSI reading of 25 or below, rather than the usual reading of 30.

That left 60 stocks on this week’s list (up from 55 last week), with 41 new entrants compared to the week before.

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, March 6:

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

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