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

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

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, June 19:

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

Among them was fintech company Splitit (ASX:SPT), which if anything had spent most of its time on the Running Cold list after turning heads with a red-hot IPO in January 2019.

But after failing to lodge the same returns as its buy now, pay later peers during the COVID-19 market rally, the stock rose by 108 per cent on Thursday following the announcement of a partnership agreement with global payments company Mastercard.

Running Cold

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, June 19:

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