Hot Money Monday: The most in-demand stocks on the ASX right now
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Stockhead’s Hot Money Monday 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 look-out for opportunities where the price action has separated from fundamentals.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, March 11:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
PRL | Province Resources | 0.115 | 92 | $ 102,107,177.40 |
VIA | Viagold Rare Earth | 0.08 | 91 | $ 6,664,992.32 |
ASO | Aston Minerals Ltd | 0.073 | 87 | $ 55,788,635.46 |
AVR | Anteris Technologies | 13.5 | 87 | $ 88,021,960.20 |
HSN | Hansen Technologies | 5.57 | 81 | $ 1,081,345,208.52 |
BRK | Brookside Energy Ltd | 0.024 | 80 | $ 34,680,630.45 |
PH2 | Pure Hydrogen Corp | 0.355 | 79 | $ 39,877,727.92 |
ICG | Inca Minerals Ltd | 0.12 | 78 | $ 44,996,165.52 |
JCS | Jcurve Solutions | 0.06 | 76 | $ 19,700,606.34 |
STA | Strandline Res Ltd | 0.285 | 75 | $ 146,410,755.96 |
CTT | Cettire | 1.22 | 74 | $ 425,080,615.30 |
WWI | West Wits Mining Ltd | 9.8 | 74 | $ 134,786,971.29 |
ZIM | Zimplats Holding Ltd | 20.7 | 74 | $ 2,174,280,509.80 |
ONE | Oneview Healthcare | 0.165 | 73 | $ 31,823,031.68 |
RAC | Race Oncology | 4.02 | 73 | $ 563,311,781.01 |
DW8 | Digital Wine Venture | 0.105 | 73 | $ 166,329,930.30 |
TRT | Todd River Res Ltd | 0.091 | 73 | $ 47,373,252.70 |
RLG | Roolife Group Ltd | 0.032 | 73 | $ 17,391,843.39 |
CXM | Centrex Metals | 0.067 | 72 | $ 21,627,438.66 |
TPD | Talon Petroleum Ltd | 0.008 | 72 | $ 37,462,526.68 |
AQS | Aquis Ent Ltd | 0.355 | 71 | $ 11,072,944.56 |
BD1 | Bard1 Life Sciences | 3.82 | 70 | $ 290,182,101.99 |
Province Resources (ASX:PRL) continued to find demand as the stock rose for four straight days to end the week.
PRL shares have consolidated their gains since the stock rose by 457.69 per cent in a single day on February 17, after announcing the acquisition of a hydrogen project in north-west WA.
Viagold Rare Earth Resources (ASX:VIA) also ran red-hot after climbing for five straight days last week on no news.
Shares in med-tech company Anteris Technologies (ASX:AVR) have almost tripled since the company released its statutory full-year accounts on February 18.
In the wake of its stellar rally, the company answered an ASX price query on March 9 where it said it wasn’t aware of any information that would prompt such strong demand.
And infrastructure technology company Hansen Technologies Limited (ASX:HSN) also jumped after announcing a profit upgrade last week.
The company flagged full-year revenues of $306m–$316m after signing a new $25m deal with the German division of Spanish telco multinational Telefónica.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, March 11:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
MHI | Merchant House | 0.046 | 30 | $ 4,336,258.82 |
CHK | Cohiba Min Ltd | 0.017 | 29 | $ 23,637,875.30 |
NUC | Nuchev Limited | 0.89 | 29 | $ 33,865,689.60 |
MEM | Memphasys Ltd | 0.06 | 28 | $ 45,586,432.80 |
BMG | BMG Resources Ltd | 0.068 | 28 | $ 16,799,416.06 |
SPT | Splitit | 1.00 | 28 | $ 456,710,520.00 |
BLY | Boart Longyear | 0.48 | 27 | $ 42,485,664.00 |
ESR | Estrella Res Ltd | 0.059 | 27 | $ 53,575,642.72 |
EM1 | Emerge Gaming Ltd | 0.037 | 27 | $ 32,827,161.51 |
M8S | M8 Sustainable | 0.04 | 26 | $ 7,020,005.00 |
YFZ | Youfoodz | 0.71 | 26 | $ 91,418,364.96 |
GSN | Great Southern | 0.058 | 26 | $ 27,301,225.20 |
AEI | Aeris Environmental | 0.235 | 26 | $ 57,299,541.70 |
MAG | Magmatic Resrce Ltd | 0.105 | 25 | $ 19,296,113.87 |
PVE | Po Valley Energy Ltd | 0.03 | 25 | $ 19,418,583.09 |
DOC | Doctor Care Anywhere | 100 | 25 | $ 179,038,669.00 |
TPS | Threat Protect Ltd | 0.042 | 24 | $ 10,120,163.68 |
AKG | Academies Aus Grp | 0.26 | 23 | $ 33,179,761.42 |
OXX | Octanex Ltd | 0.015 | 11 | $ 3,642,357.60 |
FZR | Fitzroy River Corp | 0.12 | 10 | $ 14,897,353.84 |