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

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, September 4:

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

The Running Hot list stayed well populated last week, with 50 stocks recording an RSI reading above 75 (compared to the standard measure of 70).

That’s only down slightly from 52 the week before, despite a poor start to September on the ASX which saw the local index fall on three days out of five, culminating in an ugly selloff on Friday.

Financial software minnow Intiger Group (ASX:IAM), which has a market cap of $7.74m, found itself at the top of the list following some unusual price action on Friday August 28.

The stock ticked higher by 300 per cent (from 0.1c to 0.4c) before going into a trading halt.

It then announced a voluntary suspension on Monday night (August 31) “pending the release of an announcement regarding an acquisition by the company and pending its response to ASX queries”.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, September 4:

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