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, July 3:

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

In line with the continued strength in stock markets, the number of stocks on the Running Hot list jumped to 103 last week, well above the 56 companies with an RSI above 70 in the week prior.

Running Cold

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, July 3:

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

Bullish sentiment means the Running Cold list remains thinly populated with just 25 ASX small caps trading with an RSI below 30 — the same number as last week.

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