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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 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 25:
Scroll or swipe to reveal table. Click headings to sort.
| Code | Name | Price | 2 Week RSI | Market Cap |
|---|---|---|---|---|
| SRJ | SRJ Technologies | 0.73 | 93.68 | $ 54,019,387 |
| RIE | Riedel Resources Ltd | 0.021 | 89.61 | $ 8,779,464 |
| VR1 | Vection Technologies | 0.098 | 85.64 | $ 71,840,034 |
| ICI | Icandy Interactive | 0.075 | 85.63 | $ 34,960,258 |
| TAO | TAO Commodities | 0.21 | 85.61 | $ 7,218,933 |
| VMG | VDM Group Limited | 0.003 | 85.11 | $ 20,782,983 |
| ADN | Andromeda Metals Ltd | 0.14 | 84.41 | $ 203,386,833 |
| ICU | Isentric Ltd. | 0.130 | 84.00 | $ 34,320,186 |
| SVM | Sovereign Metals | 0.435 | 79.13 | $ 177,406,902 |
| DWS | DWS Ltd | 1.18 | 77.36 | $ 154,242,654 |
| HRR | Heron Resources | 0.06 | 76.96 | $ 18,432,578 |
| THR | Thor Mining PLC | 0.021 | 76.93 | $ 8,507,802 |
| TMK | Tamaska Oil Gas Ltd | 0.009 | 76.93 | $ 6,230,000 |
| JRL | Jindalee Resources | 0.66 | 76.68 | $ 18,792,805 |
| SCT | Scout Security Ltd | 0.097 | 76.62 | $ 6,944,638 |
| IRD | Iron Road Ltd | 0.18 | 76.45 | $ 114,457,800 |
| DVL | Dorsavi Ltd | 0.040 | 75.31 | $ 8,562,818 |
| LIN | Lindian Resources | 0.024 | 74.04 | $ 13,966,791 |
| MRZ | Mont Royal Resources | 0.355 | 73.96 | $ 12,549,283 |
| EMN | Euromanganese | 0.19 | 73.29 | $ 18,639,410 |
| GGX | Gas2Grid Limited | 0.003 | 68.31 | $ 3,898,341 |
| FYI | FYI Resources Ltd | 0.18 | 64.33 | $ 38,938,025 |
| COY | Coppermoly Limited | 0.016 | 63.45 | $ 34,035,424 |
| ARO | Astro Resources NL | 0.009 | 62.49 | $ 14,629,119 |
| PGY | Pilot Energy Ltd | 0.054 | 61.93 | $ 4,237,159 |
| ENX | Enegex Limited | 0.06 | 60.33 | $ 5,828,985 |
| ALT | Analytica Limited | 0.003 | 58.82 | $ 10,558,837 |
| SMI | Santana Minerals Ltd | 0.0035 | 55.12 | $ 6,105,673 |
| PBX | Pacific Bauxite Ltd | 0.003 | 29.31 | $ 1,189,842 |
Software company Vection Technologies Ltd (ASX:VR1) was among the stocks running hot, following a six-day winning streak into the end of last week amid a run of news flow.
Amont the updates, VR1 announced it has signed the first public hospital to a trial of it “Augmented Reality (AR) healthcare solution”.
Running Cold
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, September 25:
Scroll or swipe to reveal table. Click headings to sort.
| Code | Name | Price | 2 Week RSI | Market Cap |
|---|---|---|---|---|
| PBX | Pacific Bauxite Ltd | 0.003 | 29 | $ 1,189,842 |
| GAL | Galileo Mining Ltd | 0.23 | 26 | $ 33,628,783 |
| GXY | Galaxy Resources | 1.13 | 38 | $ 479,090,825 |
| AWV | Anova Metals Ltd | 0.025 | 27 | $ 35,827,355 |
| PCH | Property Connect | 0.0015 | 30 | $ 1,028,795 |
| SRH | Saferoads Holdings | 0.165 | 13 | $ 6,006,000 |
| IQ3 | Iq3Corp Limited | 0.2 | 15 | $ 20,785,000 |
| PO3 | Purifloh Ltd | 1.32 | 27 | $ 41,611,017 |
| ONX | Orminexltd | 0.021 | 21 | $ 12,399,350 |
| NVX | Novonix Limited | 1.17 | 31 | $ 421,748,126 |
| BYE | Byron Energy Ltd | 0.175 | 31 | $ 187,253,118 |
| AMD | Arrow Minerals | 0.006 | 33 | $ 10,677,104 |
