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Hot Money Monday: The most in-demand stocks on the ASX right now
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Each week, Stockhead recaps ASX stocks that are “running hot” as deduced by the Relative Strength Index (RSI).
The RSI is 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.
Running Hot
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, July 9:
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | RSI | MktCap$ |
|---|---|---|---|---|
| RBX | Resource B | 0.18 | 93 | $ 5,771,089.45 |
| BRL | Bathurst Res Ltd. | 0.815 | 88 | $ 140,180,330.86 |
| YFZ | Youfoodz | 0.915 | 85 | $ 121,765,458.54 |
| MAQ | Macquarie Telecom Gp | 66.96 | 84 | $ 1,448,701,497.03 |
| ATU | Atrum Coal Ltd | 0.073 | 82 | $ 36,661,694.14 |
| FEL | Fe Limited | 0.089 | 82 | $ 58,795,382.02 |
| CKA | Cokal Ltd | 0.08 | 81 | $ 73,042,002.73 |
| AXE | Archer Materials | 1.32 | 81 | $ 290,070,846.15 |
| ICQ | Icar Asia Ltd | 0.48 | 80 | $ 205,518,066.71 |
| WSI | Weststar Industrial | 0.028 | 80 | $ 26,337,866.82 |
| RNO | Rhinomed Ltd | 0.215 | 80 | $ 54,568,963.38 |
| HMY | Harmoney Corp Ltd | 2.21 | 80 | $ 226,044,501.76 |
| OKR | Okapi Resources | 0.32 | 78 | $ 16,804,818.77 |
| CXZ | Connexion Telematics | 0.02 | 78 | $ 17,603,302.24 |
| RFG | Retail Food Group | 0.096 | 76 | $ 184,448,282.23 |
| NXM | Nexus Minerals Ltd | 0.105 | 76 | $ 23,926,863.76 |
| MIO | Macarthur Minerals | 0.625 | 76 | $ 78,743,915.60 |
| API | Australian Pharm. | 1.405 | 74 | $ 694,645,009.35 |
| JPR | Jupiter Energy | 0.061 | 73 | $ 5,674,974.64 |
| AJL | AJ Lucas Group | 0.036 | 73 | $ 43,066,318.86 |
| LBT | LBT Innovations | 0.11 | 73 | $ 31,802,668.04 |
| WTL | Wt Financial Grp Ltd | 0.086 | 73 | $ 14,376,783.40 |
| KOR | Korab Resources | 0.02 | 71 | $ 6,649,859.62 |
| DRE | Drednought Resources | 0.042 | 71 | $ 94,175,086.92 |
| ICE | Icetana Limited | 0.11 | 70 | $ 11,809,709.38 |
Low-key oil & gas play Sagalio Energy (ASX:SAN) popped up on this week’s list with a 14-day RSI of 93, although the stock trades fairly infrequently with low volume.
However, after being unchanged since mid-May the stock jumped by 23% on Thursday. Little is known about the junior explorer, although in percentage terms it was one of the five best performing stocks on the ASX in FY21.
The company is headquartered in Hong Kong and has oil assets in Kyrgyzstan.
Running Cold
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, July 9:
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | RSI | MktCap$ |
|---|---|---|---|---|
| PKD | Parkd Ltd | 0.04 | 30 | $ 4,208,405.59 |
| PPY | Papyrus Australia | 0.021 | 29 | $ 8,981,923.99 |
| ODY | Odyssey Gold Ltd | 0.095 | 29 | $ 51,636,054.14 |
| ARU | Arafura Resource Ltd | 0.125 | 29 | $ 168,299,734.63 |
| ATU | Atrum Coal Ltd | 0.032 | 28 | $ 17,457,949.59 |
| MR1 | Montem Resources | 0.039 | 27 | $ 7,857,676.44 |
| AMX | Aerometrex Limited | 0.79 | 26 | $ 76,464,000.00 |
| LVT | Livetiles Limited | 0.17 | 26 | $ 159,633,145.70 |
| APH | AP Hemp Ltd | 0.38 | 25 | $ 30,564,054.00 |
| MMI | Metro Mining Ltd | 0.017 | 25 | $ 34,735,257.45 |
| MRD | Mount Ridley Mines | 0.0025 | 25 | $ 8,721,229.40 |
| SMI | Santana Minerals Ltd | 0.095 | 23 | $ 10,719,067.78 |
| MPH | Mediland Pharm | 0.061 | 16 | $ 19,078,580.21 |
| ORM | Orion Metals Ltd | 0.017 | 12 | $ 9,266,656.53 |
