Hot Money Monday: The most in-demand stocks on the ASX right now

Each Monday, Stockhead recaps the stocks that are running hot with investors.

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

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, October 23:

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

Code	Company	Price	RSI	MktCap$
AMO	Ambertech Limited	0.29	96	$ 9,174,599
ABB	Aussie Broadband	2.03	96	$ 380,680,052
8VI	8Vi Holdings Limited	2.00	93	$ 88,754,890
LCY	Legacy Iron Ore	0.009	92	$ 49,977,908
8IH	8I Holdings Ltd	0.295	90	$ 95,866,159
NVA	Nova Minerals Ltd	0.195	88	$ 293,819,275
WBT	Weebit Nano Ltd	1.71	85	$ 139,796,990
EM1	Emerge Gaming Ltd	0.13	83	$ 70,546,903
WWI	West Wits Mining Ltd	0.065	83	$ 75,844,272
SDG	Sunland Group Ltd	2.09	83	$ 263,550,816
CWL	Consol Financial Hld	0.037	83	$ 4,692,629
ODA	Orcoda Limited	0.16	82	$ 18,566,165
AVE	Avecho Biotech Ltd	0.016	81	$ 14,377,117
REZ	Resourc & En Grp Ltd	0.088	79	$ 34,115,908
ESR	Estrella Res Ltd	0.17	79	$ 114,223,431
SCT	Scout Security Ltd	0.135	79	$ 13,318,483
LSR	Lodestar Minerals	0.018	79	$ 14,497,634
NSX	NSX Limited	0.155	78	$ 42,455,478
THR	Thor Mining PLC	0.023	77	$ 8,701,699
NTI	Neurotech Intl	0.026	77	$ 10,102,684
POD	Podium Minerals	0.11	77	$ 25,862,455
AOU	Auroch Minerals Ltd	0.165	76	$ 35,843,478
BLG	Bluglass Limited	0.115	76	$ 75,566,052
GEV	Global Ene Ven Ltd	0.099	74	$ 36,762,931

Ambertech Limited (ASX:AMO), which makes equipment used in production support for the film/tv broadcast and audio industries, shot to the top of this week’s list after a big surge on Friday.

The +100pc gain followed a profit guidance update, where the company forecast revenues in the range between $34-$38m for the six months ended December 31.

Reflecting the current strength of the IPO market, recent ASX debutante Aussie Broadband (ASX:ABB) also made an appearance at the pointy end of the Running Hot list after ripping higher when it hit the ASX boards on October 16.

And for the first time in Hot Money Monday history, ASX competitor the NSX (ASX:NSX) chalked up a two-week RSI above 70 following its big jump on Wednesday after the release of quarterly cash flow data.

Running Cold

Here’s a summary of the stocks that were running hold for the two weeks ended Friday, October 23:

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

Code	Company	Price	RSI	MktCap$
CMD	Cassius Mining Ltd	0.01	28	$ 2,872,464
ATH	Alterity Therap Ltd	0.038	29	$ 42,315,157
PCH	Property Connect	0.0015	29	$ 1,028,795
EOF	Ecofibre Limited	1.77	22	$ 262,482,568
BKY	Berkeley Energia Ltd	0.405	27	$ 107,321,249
ILU	Iluka Resources	5.22	14	$ 4,185,419,842
SKN	Skin Elements Ltd	0.025	2	$ 7,818,423
PBX	Pacific Bauxite Ltd	0.003	27	$ 1,189,842
MCX	Mariner Corp Ltd	0.03	9	$ 1,441,597
T3D	333D Limited	0.001	28	$ 1,065,996
BKY	Berkeley Energia Ltd	0.405	26	$ 107,321,249
NZS	New Zealand Coastal	0.031	29	$ 17,861,277
PXX	Polarx Limited	0.03	24	$ 16,245,622
IQ3	Iq3Corp Limited	0.2	15	$ 20,785,000
TPC	TPC Consolidated Ltd	1.09	19	$ 12,246,818