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

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Each Monday, Stockhead recaps the stocks most heavily in demand by investors.

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, August 21:

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

Last week there were 91 companies, down slightly from 105 in the week prior, and this week the list was so well populated that Stockhead’s data team reimposed a new cutoff — only including stocks with an RSI of 75 or over.

Even with the stricter criteria, 60 companies still made the list which was headed up by gold explorer Stone Resources (ASX:SHK), which has been undergoing a recapitalisation process in order to advance development of its Brightstar gold project near Laverton in WA’s Goldfields.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, August 21:

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

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