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.
Stocks were treading water amid the volatility last week, but the Running Hot list (Bear Market Edition) remains particularly short by historical standards.
The local index posted three straight days of gains as markets assessed the impact of huge government stimulus measures, particularly in the US.
Both of those increases were book-ended by two sharp falls, as the ASX tanked hard into the close on Friday afternoon after starting the day in positive territory.
Amid all of that, we picked up a total of nine stocks with a two-week RSI measure above 60 (instead of the usual 70) — down from 11 last week.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, March 27:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price | 2 Week RSI | Market Cap ($) |
---|---|---|---|---|
CTE | CRYOSITE LTD | 0.07 | 74.8 | 3.37M |
CHN | CHALICE GOLD MINES LTD | 0.5 | 71.45 | 137.03M |
LSH | LIFESPOT HEALTH LTD | 0.06 | 71.07 | 5.44M |
MMM | MARLEY SPOON AG-CDI | 0.57 | 68.44 | 90.36M |
CRM | CARBON MINERALS LTD | 0.25 | 67.82 | 4.79M |
MNF | MNF GROUP LTD | 4.69 | 66.63 | 395.12M |
KAS | KASBAH RESOURCES LTD | 0.02 | 64.22 | 2.71M |
HMD | HERAMED LTD | 0.14 | 63.48 | 15.04M |
PCL | PANCONTINENTAL OIL & GAS NL | 0 | 61.15 | 10.81M |
The government-stimulus rally helped bring this week’s Running Cold list out of the doldrums (well, at least slightly).
Lastly, we only included stocks with an RSI below 15 — a move required to get the number of companies on the list below 100 (there were 99).
This week we included companies with an RSI below 20 (still below the standard measure of 30). A total of 62 companies remained ice cold, as investors brace for more volatility in the weeks ahead.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, March 27:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price ($) | 2 Week RSI | Market Cap |
---|---|---|---|---|
APH | AUSTRALIAN PRIMARY HEMP LTD | 0.05 | 19.96 | 3.55M |
PSQ | PACIFIC SMILES GROUP LTD | 0.79 | 19.75 | 120.07M |
CD1 | CORDISH DIXON PRIVATE EQUITY | 0.9 | 19.73 | 35.11M |
MTO | MOTORCYCLE HOLDINGS LTD | 0.63 | 19.72 | 39.18M |
AGI | AINSWORTH GAME TECHNOLOGY | 0.37 | 19.64 | 122.93M |
HRR | HERON RESOURCES LTD | 0.02 | 19.31 | 8.57M |
VR8 | VANADIUM RESOURCES LTD | 0.01 | 19.15 | 3.37M |
A2B | A2B AUSTRALIA LTD | 0.66 | 19.13 | 79.48M |
TGA | THORN GROUP LTD | 0.05 | 18.86 | 14.83M |
TBL | TAMBLA LTD | 0.12 | 18.83 | 2.38M |
A1M | AIC MINES LTD | 0.23 | 18.77 | 11.96M |
IMR | IMRICOR MEDICAL SYSTEMS-CDI | 0.79 | 18.63 | 82.77M |
BLY | BOART LONGYEAR LTD | 0.49 | 18.48 | 42.56M |
ALG | ARDENT LEISURE GROUP LTD | 0.15 | 18.43 | 71.96M |
E2E | EON NRG LTD | 0 | 18.3 | 769.89k |
PPE | PEOPLE INFRASTRUCTURE LTD | 1.09 | 18.13 | 80.03M |
IGL | IVE GROUP LTD | 0.42 | 17.99 | 62.25M |
WAA | WAM ACTIVE LTD | 0.76 | 17.98 | 24.78M |
RGI | ROTO-GRO INTERNATIONAL LTD | 0.04 | 17.97 | 6.41M |
MXR | MAXIMUS RESOURCES LTD | 0.03 | 17.97 | 1.09M |
ELO | ELMO SOFTWARE LTD | 4.07 | 17.78 | 306.18M |
CPT | CIPHERPOINT LTD | 0.02 | 17.69 | 824.89k |
BYI | BEYOND INTERNATIONAL LTD | 0.5 | 17.64 | 30.67M |
CG1 | CARBONXT GROUP LTD | 0.15 | 17.63 | 16.05M |
MYR | MYER HOLDINGS LTD | 0.1 | 17.57 | 86.23M |
PCG | PENGANA CAPITAL GROUP LTD | 0.82 | 17.42 | 84.56M |
SGI | STEALTH GLOBAL HOLDINGS LTD | 0.05 | 17.1 | 4.75M |
DAF | DISCOVERY AFRICA LTD | 0.01 | 16.92 | 1.09M |
OZG | OZGROWTH LTD | 0.11 | 16.64 | 39.10M |
JAY | JAYRIDE GROUP LTD | 0.07 | 16.58 | 7.08M |
RDH | REDHILL EDUCATION LTD | 0.8 | 16.54 | 24.65M |
SHO | SPORTSHERO LTD | 0.01 | 16.52 | 1.97M |
REX | REGIONAL EXPRESS HOLDINGS | 0.4 | 16.5 | 44.06M |
SFM | SANTA FE MINERALS LTD | 0.05 | 16.5 | 3.71M |
IXU | IXUP LTD | 0.03 | 16.47 | 6.68M |
CVC | CVC LTD | 1.07 | 16.12 | 124.99M |
CRO | CIRRALTO LTD | 0 | 16.04 | 1.65M |
KNO | KNOSYS LTD | 0.03 | 15.77 | 4.02M |
ERF | ELANOR RETAIL PROPERTY FUND | 0.83 | 15.74 | 106.85M |
DTM | DART MINING NL | 0.04 | 15.57 | 2.24M |
JXT | JAXSTA LTD | 0.02 | 15.12 | 4.70M |
NCK | NICK SCALI LTD | 3.25 | 15.1 | 263.25M |
PFP | PROPEL FUNERAL PARTNERS LTD | 2.2 | 14.14 | 217.22M |
HLO | HELLOWORLD TRAVEL LTD | 0.93 | 14.03 | 115.99M |
EUR | EUROPEAN LITHIUM LTD | 0.04 | 13.96 | 22.22M |
PGL | PROSPA GROUP LTD | 0.5 | 13.86 | 80.68M |
MOZ | MOSAIC BRANDS LTD | 0.26 | 13.74 | 25.17M |
ASG | AUTOSPORTS GROUP LTD | 0.67 | 13.37 | 133.67M |
DGH | DESANE GROUP HOLDINGS LTD | 1.1 | 12.98 | 45.00M |
SPQ | SUPERIOR RESOURCES LTD | 0 | 12.32 | 1.49M |
MVF | MONASH IVF GROUP LTD | 0.42 | 12.2 | 99.03M |
SXL | SOUTHERN CROSS MEDIA GROUP | 0.17 | 12.15 | 126.89M |
LME | LIMEADE INC-CDI | 1.4 | 11.81 | 342.72M |
SST | STEAMSHIPS TRADING COMPANY | 10 | 11.79 | 310.08M |
WPP | WPP AUNZ LTD | 0.27 | 10.86 | 230.08M |
VRT | VIRTUS HEALTH LTD | 1.78 | 10.82 | 143.49M |
SOM | SOMNOMED LTD | 1.25 | 10.64 | 107.83M |
PNC | PIONEER CREDIT LTD | 0.37 | 10.32 | 23.46M |
ENN | ELANOR INVESTOR GROUP | 0.79 | 10.18 | 92.81M |
KAT | KATANA CAPITAL LTD | 0.57 | 10.05 | 24.32M |
KSM | K2 AUS SMALL CAP FUND | 1.35 | 9.51 | 9.36M |
OML | OOH!MEDIA LTD | 0.68 | 8.15 | 166.03M |
However, amid the market chaos oOh!media still managed to complete a $156m share placement to institutional investors, with plans to pay down debt and refocus on costs.
Shares in the company came out of a trading halt on Friday and fell by around 30 per cent to 60.5c, down from a 2020 high above $3 in mid-January.