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Hot Money Monday: These are 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.
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.
| Code | Name | Price | 2 Week RSI | Market Cap ($) |
|---|---|---|---|---|
| INF | INFINITY LITHIUM CORP LTD | 0.10 | 84.27 | 25.07M |
| BKY | BERKELEY ENERGIA LTD | 0.50 | 82.78 | 130.60M |
| SPT | SPLITIT PAYMENTS LTD | 1.68 | 81.75 | 484.49M |
| ALY | ALCHEMY RESOURCES LTD | 0.02 | 79.87 | 11.56M |
| BNL | BLUE STAR HELIUM LTD | 0.01 | 79.72 | 9.54M |
| KKO | KINETIKO ENERGY LTD | 0.07 | 78.69 | 36.94M |
| 9SP | 9 SPOKES INTERNATIONAL LTD | 0.03 | 78.66 | 34.04M |
| GAP | GALE PACIFIC LTD | 0.20 | 78.16 | 55.08M |
| STA | STRANDLINE RESOURCES LTD | 0.22 | 77.3 | 93.89M |
| OVH | ONEVUE HOLDINGS LTD | 0.38 | 76.79 | 101.81M |
| KAI | KAIROS MINERALS LTD | 0.03 | 76.78 | 37.40M |
| WAT | WATERCO LTD | 2.50 | 76.42 | 89.71M |
| MGV | MUSGRAVE MINERALS LTD | 0.44 | 75.73 | 203.77M |
| TRS | REJECT SHOP LTD/THE | 7.60 | 75.72 | 280.22M |
| SUP | SUPERIOR LAKE RESOURCES LTD | 0.13 | 75.61 | 17.87M |
| TRM | TRUSCOTT MINING CORP LTD | 0.02 | 75.15 | 2.24M |
| RXL | ROX RESOURCES LTD | 0.05 | 75.12 | 85.65M |
| XTD | XTD LTD | 0.05 | 74.96 | 6.90M |
| DTM | DART MINING NL | 0.11 | 74.43 | 7.06M |
| GLH | GLOBAL HEALTH LTD | 0.20 | 74.21 | 8.42M |
| ZNC | ZENITH MINERALS LTD | 0.11 | 74.2 | 26.77M |
| FHS | FREEHILL MINING LTD | 0.06 | 74.13 | 82.23M |
| CRO | CIRRALTO LTD | 0.01 | 74.1 | 5.76M |
| SSG | SHAVER SHOP GROUP LTD | 0.71 | 74.08 | 90.42M |
| BFC | BESTON GLOBAL FOOD CO LTD | 0.10 | 73.75 | 49.46M |
| IRD | IRON ROAD LTD | 0.08 | 73.74 | 51.33M |
| GRV | GREENVALE ENERGY LTD | 0.04 | 73.64 | 4.25M |
| SGC | SACGASCO LTD | 0.03 | 73.46 | 8.11M |
| GSM | GOLDEN STATE MINING LTD | 0.38 | 73.01 | 16.25M |
| DXB | DIMERIX LTD | 0.44 | 72.9 | 79.87M |
| VUL | VULCAN ENERGY RESOURCES LTD | 0.47 | 72.9 | 24.15M |
| TLM | TALISMAN MINING LTD | 0.14 | 72.58 | 26.13M |
| ABA | AUSWIDE BANK LTD | 5.31 | 72.41 | 224.90M |
| CGS | COGSTATE LTD | 0.40 | 72.31 | 69.76M |
| IMC | IMMURON LTD | 0.27 | 72.29 | 52.55M |
| RGL | RIVERSGOLD LTD | 0.05 | 71.76 | 14.39M |
| AL8 | ALDERAN RESOURCES LTD | 0.20 | 71.45 | 43.92M |
| TMX | TERRAIN MINERALS LTD | 0.01 | 71.19 | 5.79M |
| CZR | COZIRON RESOURCES LTD | 0.02 | 71.14 | 38.18M |
| VBS | VECTUS BIOSYSTEMS LTD | 0.72 | 71.05 | 17.98M |
| PAA | PHARMAUST LTD | 0.14 | 70.99 | 40.77M |
| HMX | HAMMER METALS LTD | 0.04 | 70.9 | 21.62M |
| ORM | ORION METALS LTD | 0.02 | 70.88 | 11.31M |
| VRS | VERIS LTD | 0.04 | 70.8 | 17.43M |
| ZNO | ZOONO GROUP LTD | 2.74 | 70.36 | 461.39M |
| PPC | PEET LTD | 0.97 | 70.36 | 468.80M |
| PYG | PAYGROUP LTD | 0.83 | 70.25 | 54.43M |
| ARV | ARTEMIS RESOURCES LTD | 0.04 | 70.19 | 43.42M |
| ASIA | BETASHARES ASIA TECH TIGERS | 8.50 | 70.17 | 154.37M |
| AUR | AURIS MINERALS LTD | 0.04 | 70.15 | 17.57M |
| AFL | AF LEGAL GROUP | 0.19 | 70.04 | 11.72M |
A total of 52 ASX small caps made the cut this week with a 14-day RSI above 70 this week.
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.
| Code | Name | Price ($) | 2 Week RSI | Market Cap |
|---|---|---|---|---|
| ARU | ARAFURA RESOURCES LTD | 0.06 | 29.13 | 65.40M |
| ZER | ZETA RESOURCES LTD | 0.14 | 28.94 | 40.23M |
| BLV | BLOSSOMVALE HOLDINGS LTD | 0.04 | 28.91 | 2.64M |
| PXS | PHARMAXIS LTD | 0.07 | 28.03 | 26.48M |
| EGY | ENERGY TECHNOLOGIES LTD | 0.19 | 27.95 | 15.87M |
| MAR | MALACHITE RESOURCES LTD | 0.03 | 27.68 | 2.04M |
| NUC | NUCHEV LTD | 2.31 | 27.38 | 103.95M |
| PKD | PARKD LTD | 0.03 | 27.33 | 1.88M |
| TNP | TRIPLE ENERGY LTD | 0.005 | 26.63 | 359.98k |
| AVR | ANTERIS TECHNOLOGIES LTD | 5.04 | 25.09 | 29.84M |
| PET | PHOSLOCK ENVIRONMENTAL TECHNOLOGIES | 0.36 | 24.86 | 221.88M |
| BHL | BOYUAN HOLDINGS LTD | 0.08 | 24.35 | 27.45M |
| CPH | CRESO PHARMA LTD | 0.04 | 23.41 | 11.72M |
| AMB | AMBITION GROUP LTD | 0.02 | 22.27 | 1.55M |
| 14D | 1414 DEGREES LTD | 0.06 | 22.06 | 11.93M |
| KPE | KINA PETROLEUM CORP | 1.05 | 21.58 | 13.46M |
| FZR | FITZROY RIVER CORP LTD | 0.10 | 21.2 | 9.07M |
| VOL | VICTORY OFFICES LTD | 0.38 | 20.49 | 15.75M |
| KLL | KALIUM LAKES LTD | 0.14 | 15.24 | 112.32M |
| UUL | ULTIMA UNITED LTD | 0.02 | 10.97 | 527.86k |
| BIR | BIR FINANCIAL LTD | 0.01 | 7.01 | 1.22M |
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