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 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.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, October 16:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
AYM | Australia United Mining | 0.019 | 97 | $ 35,008,972 |
DOU | Douugh Limited | 0.375 | 94 | $ 67,066,638 |
CWL | Consol Financial Hld | 0.037 | 82 | $ 3,170,695 |
RFN | Reffind Limited | 0.004 | 83 | $ 2,486,517 |
AZS | Azure Minerals | 0.45 | 79 | $ 93,244,158 |
RDN | Raiden Resources Ltd | 0.04 | 73 | $ 19,927,225 |
PWN | Parkway Minls NL | 0.014 | 70 | $ 20,598,177 |
ODA | Orcoda Limited | 0.15 | 91 | $ 11,487,815 |
AJQ | Armour Energy Ltd | 0.036 | 81 | $ 34,495,053 |
ADO | Anteotech Ltd | 0.13 | 87 | $ 210,996,701 |
AUC | Ausgold Limited | 0.06 | 75 | $ 70,218,875 |
NXE | New Energy Minerals | 0.027 | 72 | $ 4,980,734 |
DAU | Dampier Gold Ltd | 0.043 | 74 | $ 11,968,343 |
SRN | Surefire Rescs NL | 0.031 | 78 | $ 18,844,609 |
CNB | Carnaby Resource Ltd | 0.45 | 70 | $ 48,203,423 |
UNL | United Networks Ltd | 0.11 | 79 | $ 43,161,732 |
ESR | Estrella Res Ltd | 0.115 | 85 | $ 73,200,836 |
ASM | Ausstratmaterials | 4.00 | 79 | $ 478,580,108 |
TOU | Tlou Energy Ltd | 0.061 | 80 | $ 28,360,748 |
YRL | Yandal Resources | 0.52 | 80 | $ 32,784,320 |
KSS | Kleos | 0.47 | 82 | $ 50,493,825 |
KWR | Kingwest Resources | 0.205 | 70 | $ 29,201,833 |
EM1 | Emerge Gaming Ltd | 0.055 | 70 | $ 37,767,534 |
TRY | Troy Resources Ltd | 0.155 | 82 | $ 97,969,884 |
RBL | Redbubble Limited | 5.64 | 75 | $ 1,452,326,868 |
ZLD | Zelira Therapeutics | 0.098 | 77 | $ 103,780,421 |
4DX | 4Dmedical Limited | 2.60 | 71 | $ 449,388,371 |
Up near the top of this week’s list was the latest fintech entrant onto the ASX boards, Douugh (ASX:DOU).
After almost doubling up from its IPO listing price of 3c on its first day of trade last week, investors have sent DOU shares on a tear.
The stock closed on Friday at 34.5c, after posting its third straight daily gain of at least 35 per cent.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, October 16:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
UWL | Uniti Group Ltd | 1.24 | 31 | $ 640,881,591 |
HXG | Hexagon Energy | 0.041 | 29 | $ 11,989,769 |
PXX | Polarx Limited | 0.03 | 17 | $ 16,245,622 |
ZNO | Zoono Group Ltd | 1.49 | 31 | $ 253,599,696 |
NZS | New Zealand Coastal | 0.036 | 31 | $ 22,624,284 |
KPE | Kina Petroleum Corp | 0.42 | 8 | $ 5,269,261 |
VOL | Victory Offices Ltd | 0.205 | 27 | $ 16,769,000 |
MPH | Mediland Pharm | 0.10 | 1 | $ 39,095,451 |
PCH | Property Connect | 0.0015 | 30 | $ 1,028,795 |
MHC | Manhattan Corp Ltd | 0.029 | 30 | $ 38,462,082 |
SKN | Skin Elements Ltd | 0.034 | 1 | $ 26,061,411 |
MCX | Mariner Corp Ltd | 0.03 | 9 | $ 1,441,597 |
KOR | Korab Resources | 0.013 | 23 | $ 4,322,409 |
BOE | Boss Resources Ltd | 0.061 | 26 | $ 114,888,917 |
MSB | Mesoblast Limited | 3.13 | 31 | $ 1,882,943,564 |