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

Each Monday, Stockhead recaps the stocks that are running hot with 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, October 2:

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

Code	Company	Price	RSI	MktCap$
PLL	Piedmont Lithium Ltd	0.3375	71	$433.2M
MSI	Multistack Internat.	0.016	95	$1.8M
RAN	Range International	0.019	74	$5.0M
ADY	Admiralty Resources.	0.019	77	$18.5M
REE	Rarex Limited	0.12	82	$45.5M
NML	Navarre Minerals Ltd	0.18	74	$86.8M
FYI	FYI Resources Ltd	0.25	67	$59.9M
VR1	Vection Technologies	0.1325	78	$105.6M
SRN	Surefire Rescs NL	0.0235	76	$14.4M
3DA	Amaero International	0.61	74	$54.7M
EMU	EMU NL	0.045	90	$13.4M
INR	Ioneer Ltd	0.15	71	$243.9M
NC6	Nanollose Limited	0.094	69	$8.4M
MPP	Metro Perf.Glass Ltd	0.295	74	$37.1M
STK	Strickland Metals	0.081	73	$29.3M
ICT	Icollege Limited	0.11	74	$55.3M
MOC	Mortgage Choice Ltd	1.12	77	$142.5M
ZLD	Zelira Therapeutics	0.075	70	$87.3M
PFT	Pure Foods Tas Ltd	1.29	87	$61.7M
CHZ	Chesser Resources	0.26	70	$103.8M
PM1	Pure Minerals Ltd	0.028	76	$20.6M
BOT	Botanix Pharma Ltd	0.097	69	$88.5M
RVR	Red River Resources	0.165	70	$88.0M
TSO	Tesoro Resources	0.34	71	$161.9M

North America-focused lithium stock Piedmont Lithium (ASX:PLL) has been running hot ever since it won a contract to supply Tesla last week.

In gold, Emu NL (ASX:EMU) started running hot after exiting Chile and picking up a new gold project in Australia.

Chile-focused gold explorer Tesoro Resources (ASX:TSO) also made the ‘running hot’ list. It is more than a 10-bagger after exploration success in the Latin American country.

Among non-resources sectors, Pure Foods Tasmania (ASX:PFT) was one stock to run hot.

When it entered the bourse through a reverse take-over of Bunji Corporation back in April, it told shareholders it would proactively seek partners and acquisition opportunities.

Last week it formally launched an incubation fund to help fellow Tasmanian premium food and beverage businesses just starting out in the space.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, October 2:

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


Code	Company	Price	RSI	MktCap$
GTK	Gentrack Group Ltd	1.2	30	$118.8M
A2M	The A2 Milk Company	14	25	$10.4B
TRM	Truscott Mining Corp	0.016	30	$2.0M
RCE	Recce Pharmaceutical	1.13	27	$208.4M
PCH	Property Connect	0.0015	29	$1.0M
MTH	Mithril Resources	0.029	27	$58.4M
MSB	Mesoblast Limited	3.33	29	$3.0B
SVD	Scandivanadium Ltd	0.014	24	$6.7M
CML	Chase Mining Limited	0.016	20	$10.2M
MCX	Mariner Corp Ltd	0.028	5	$1.3B
RML	Resolution Minerals	0.042	30	$12.6B

Mesoblast’s (ASX:MSB) FDA order to go back to the drawing board spooked investors enough to send its two-week RSI below 30.

Gold play Chase Mining (ASX:CML) has also been running cold after some not-so-great exploration results.

Dairy giant A2 Milk (ASX:A2M) has held up from a share price perspective for much of 2020. But it plunged last week after telling shareholders its daigou trade had begun to dry up.