Hot Money Monday: These are the most in-demand stocks on the ASX right now
News
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.
Here’s this week’s list:
As market-watchers would know, the debate around overpriced tech stocks has ramped up in recent weeks, amid concern in some quarters about high valuations (relative to earnings) and a high-profile short-seller report against WiseTech Global.
But that hasn’t stopped another software company, Class Ltd (ASX:CL1), jumping to the top of this week’s hot-money table after a steady run-up in its share price.
Class, which provides cloud-software solutions to streamline accounting and administration tasks (with a key focus on Self-Managed Super Funds), hasn’t had much news lately.
Despite that, the stock has found steady demand to rise from around $1.20 in early September to almost $2. That’s a new 2019 high, although Class remains off levels above $3 it reached in early 2018.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 1:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price ($) | 14-day RSI | Market Cap |
---|---|---|---|---|
CL1 | CLASS LTD | 1.96 | 86.33 | 230.62M |
QMS | QMS MEDIA LTD | 1.23 | 85.25 | 422.30M |
MRD | MOUNT RIDLEY MINES LTD | 0.0015 | 84.65 | 5.37M |
NHL | NOVITA HEALTHCARE LTD | 0.06 | 84.01 | 37.66M |
CSV | CSG LTD | 0.31 | 82.98 | 137.02M |
KKT | KONEKT LTD | 0.5 | 82.84 | 53.42M |
LBT | LBT INNOVATIONS LTD | 0.2 | 82.7 | 48.24M |
TRS | REJECT SHOP LTD/THE | 2.45 | 81.63 | 70.82M |
CCV | CASH CONVERTERS INTL LTD | 0.24 | 81.23 | 147.95M |
CEL | CHALLENGER EXPLORATION LTD | 0.07 | 80.46 | 32.38M |
MAG | MAGMATIC RESOURCES LTD | 0.15 | 79.57 | 20.41M |
RYD | RYDER CAPITAL LTD | 1.52 | 78.72 | 75.42M |
TNY | TINYBEANS GROUP PTY LTD | 3.2 | 78.58 | 121.75M |
INR | IONEER LTD | 0.25 | 78.4 | 376.76M |
EGI | ELLERSTON GLOBAL INVESTMENTS | 1.01 | 77.6 | 104.60M |
SOM | SOMNOMED LTD | 2.82 | 77.21 | 177.11M |
EEG | EMPIRE ENERGY GROUP LTD | 0.38 | 77.1 | 89.05M |
BRI | BIG RIVER INDUSTRIES LTD | 1.27 | 76.71 | 79.34M |
FOD | FOOD REVOLUTION GROUP LTD | 0.09 | 76.26 | 63.77M |
TDL | TBG DIAGNOSTICS LTD | 0.05 | 76.24 | 10.88M |
RBL | REDBUBBLE LTD | 1.93 | 76.08 | 499.40M |
ICS | ICSGLOBAL LTD | 1.55 | 75.58 | 16.47M |
BTH | BIGTINCAN HOLDINGS LTD | 0.67 | 75.32 | 203.43M |
TPW | TEMPLE & WEBSTER GROUP LTD | 2.29 | 75.32 | 259.74M |
AZM | AZUMAH RESOURCES LTD | 0.03 | 74.61 | 32.29M |
GSN | GREAT SOUTHERN MINING LTD | 0.07 | 74.52 | 24.55M |
VHT | VOLPARA HEALTH TECHNOLOGIES | 1.85 | 74.34 | 403.42M |
SMN | STRUCTURAL MONITORING-CDI | 1.1 | 73.93 | 127.27M |
FWD | FLEETWOOD CORP LTD | 2.24 | 73.03 | 211.93M |
DLC | DELECTA LTD | 0.01 | 72.28 | 5.57M |
SPT | SPLITIT PAYMENTS LTD | 0.98 | 72.27 | 301.38M |
ITW | ISHARES MSCI TAIWAN ETF | 58.25 | 71.63 | 4.82M |
MIL | MILLENNIUM SERVICES GROUP | 0.36 | 71.29 | 16.53M |
CT1 | CCP TECHNOLOGIES LTD | 0.01 | 70.95 | 11.56M |
OPC | OPTICOMM LTD | 3.98 | 70.25 | 414.22M |
MCX | MARINER CORP LTD | 0.06 | 70.24 | 824.28k |
While we’ve noted the prevalence of pot stocks in this list over recent weeks, a bout of investor indifference towards the cannabis sector appears to be becoming more of an established trend.
The data showed a number of cannabis stocks were propping up this week’s cold-money list, including Althea Group (ASX:AGH), which continues to struggle after news that cornerstone Canadian investor Aphria was selling its stake in the company.
Other pot stocks that were languishing at the tail-end of the list included Creso Pharma (ASX:CPH), Cann Group (ASX:CAN), Elixinol Global (ASX:EXL) and Botanix Pharmaceuticals (ASX:BOT).
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, November 1:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price ($) | 14-day RSI | Market Cap |
---|---|---|---|---|
FUN | FUNTASTIC LTD | 0.03 | 29.87 | 5.83M |
TAR | TARUGA MINERALS LTD | 0.01 | 29.58 | 1.84M |
EQX | EQUATORIAL RESOURCES LTD | 0.25 | 29.58 | 31.73M |
TAM | TANAMI GOLD NL | 0.04 | 29.53 | 49.35M |
AGH | ALTHEA GROUP HOLDINGS LTD | 0.42 | 29.47 | 97.99M |
RVS | REVASUM INC-CDI | 0.78 | 29.32 | 60.38M |
CY5 | CYGNUS GOLD LTD | 0.04 | 29.22 | 2.12M |
ARC | AUSTRALIAN RURAL CAPITAL LTD | 0.32 | 28.61 | 4.00M |
GO2 | GO2 PEOPLE LTD/THE | 0.02 | 28.49 | 2.24M |
IHL | IMPRESSION HEALTHCARE LTD | 0.07 | 28.42 | 46.03M |
AOP | APOLLO CONSOLIDATED LTD | 0.21 | 28.39 | 46.51M |
CGB | CANN GLOBAL LTD | 0.02 | 28.3 | 64.01M |
MWR | MGM WIRELESS LTD | 3.25 | 28.18 | 45.93M |
BEL | BENTLEY CAPITAL LTD | 0.05 | 27.91 | 6.47M |
BOT | BOTANIX PHARMACEUTICALS LTD | 0.12 | 27.62 | 110.92M |
AJX | ALEXIUM INTERNATIONAL GROUP | 0.09 | 27.44 | 33.13M |
BUX | BUXTON RESOURCES LTD | 0.06 | 27.38 | 8.84M |
MOY | MILLENNIUM MINERALS LTD | 0.05 | 27.17 | 49.03M |
BIQ | BUILDINGIQ INC-CDI | 0.02 | 27.05 | 5.75M |
LIT | LITHIUM AUSTRALIA NL | 0.03 | 25.86 | 18.17M |
NXS | NEXT SCIENCE LTD | 2.12 | 25.67 | 379.94M |
WWG | WISEWAY GROUP LTD | 0.13 | 25.45 | 18.24M |
MDC | MEDLAB CLINICAL LTD | 0.37 | 25.44 | 78.61M |
CSE | COPPER STRIKE LTD | 0.03 | 24.84 | 3.53M |
TIG | TIGERS REALM COAL LTD | 0.02 | 24.82 | 34.04M |
MNS | MAGNIS ENERGY TECHNOLOGIES L | 0.12 | 24.44 | 70.82M |
STN | SATURN METALS LTD | 0.34 | 24.38 | 24.52M |
TMG | TRIGG MINING LTD | 0.09 | 24.17 | 4.93M |
LHB | LIONHUB GROUP LTD | 0.003 | 24.08 | 2.48M |
SWK | SWICK MINING SERVICES LTD | 0.19 | 23.99 | 53.51M |
CAN | CANN GROUP LTD | 1.01 | 23.43 | 143.29M |
EXL | ELIXINOL GLOBAL LTD | 1.5 | 23.13 | 206.84M |
LVE | LOVE GROUP GLOBAL LTD | 0.05 | 20.14 | 2.11M |
KSC | K & S CORP LTD | 1.6 | 19.1 | 203.65M |
ESE | ESENSE-LAB LTD-CDI | 0.01 | 18.76 | 2.28M |
2BE | TUBI PTY LTD | 0.12 | 17.38 | 29.18M |
CPH | CRESO PHARMA LTD | 0.2 | 17.24 | 30.31M |
KAS | KASBAH RESOURCES LTD | 0.02 | 15.83 | 2.80M |
HRR | HERON RESOURCES LTD | 0.14 | 15.76 | 54.67M |
SST | STEAMSHIPS TRADING COMPANY | 13 | 15.62 | 403.11M |
MHI | MERCHANT HOUSE INTL LTD | 0.06 | 13.84 | 5.66M |
8EC | 8IP EMERGING COS LTD | 0.07 | 6.85 | 29.33M |