Hot Money Monday: These are the most in-demand stocks on the ASX right now
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Each Monday, Stockhead recaps the ASX 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, December 11:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
IMM | Immutep Ltd | 0.57 | 89 | $ 277,238,464.20 |
AHY | Asaleo Care Limited | 1.3 | 88 | $ 668,040,663.93 |
PTG | Proptech Group | 0.48 | 85 | $ 24,327,138.60 |
TI1 | Tombador Iron | 0.067 | 84 | $ 45,195,030.48 |
RCW | Rightcrowd | 0.35 | 82 | $ 79,967,165.76 |
SCU | Stemcell United Ltd | 0.031 | 81 | $ 20,819,859.28 |
SI6 | SI6 Metals Limited | 0.036 | 78 | $ 47,698,466.85 |
ECS | ECS Botanics Holding | 0.063 | 78 | $ 21,536,026.50 |
NMR | Native Mineral Res | 0.57 | 78 | $ 15,127,087.50 |
AJJ | Asian Amer Medical | 0.058 | 78 | $ 20,169,659.73 |
CPT | Cipherpoint Limited | 0.06 | 78 | $ 7,424,087.25 |
BMN | Bannerman Resources | 0.063 | 78 | $ 64,491,123.72 |
NTI | Neurotech Intl | 0.05 | 77 | $ 24,532,415.56 |
4CE | Force Com Ltd | 0.028 | 76 | $ 27,211,724.04 |
FMS | Flinders Mines Ltd | 1.38 | 75 | $ 233,011,036.26 |
ROO | Roots Sustainable | 0.029 | 75 | $ 10,312,667.50 |
CPH | Creso Pharma Ltd | 0.25 | 74 | $ 144,567,867.57 |
MSM | MSM Corporation Intl | 0.068 | 74 | $ 62,110,914.76 |
LNU | Linius Tech Limited | 0.066 | 74 | $ 103,784,836.69 |
CAP | Carpentaria Resource | 0.057 | 74 | $ 13,292,698.92 |
MDC | Medlab Clinical Ltd | 0.29 | 74 | $ 78,309,187.88 |
SNG | Siren Gold | 0.86 | 73 | $ 48,162,168.28 |
PF1 | Pathfinder Resources | 0.27 | 72 | $ 13,425,531.30 |
MPR | Mpower Group Limited | 0.065 | 72 | $ 9,530,784.96 |
BDM | Burgundy D Mines Ltd | 0.195 | 71 | $ 48,507,144.86 |
MXC | Mgc Pharmaceuticals | 0.035 | 71 | $ 51,332,252.76 |
VUL | Vulcan Energy | 2.8 | 71 | $ 181,739,477.80 |
EPM | Eclipse Metals | 0.013 | 71 | $ 18,390,105.90 |
DNA | Donaco International | 0.055 | 70 | $ 66,711,026.63 |
Biotech moved to the top of this week’s list, as oncology company Immutep (ASX:IMM) recorded a 14-day RSI of 89.
The moved was backed my some material news flow though, as IMM reported “highly encouraging” results in a Phase IIb trial for efti — its treatment solution for late-stage breast cancer.
Also running hot was $700m hygiene products company Asaleo Care Limited (ASX:AHY), which received a non-binding takeover proposal from Sweden-based Essity AB.
Asaleo said that while its assessment of the proposal is still at an early stage, the offer does represent “a low takeover premium to recent market prices and is highly opportunistic in timing”.
And in another possible indicator that cannabis is back, a total of six cannabis companies made an appearance on this week’s Running Hot list.
Leading the pack was the cannabis-adjacent Stemcell United (ASX:SCU), the $20m agriculture company which posted strong enough gains to warrant a please-explain from the ASX last Wednesday.
Via its subsidiary, Yunnan Hua Fang Industrial, SCU is the holder of an industrial hemp licence in China and says it is “the first foreign company to access the vast China hemp market”.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, December 11:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | MktCap$ |
---|---|---|---|---|
STK | Strickland Metals | 0.05 | 30 | $ 20,636,424.53 |
PCH | Property Connect | 0.0015 | 29 | $ 1,028,795.21 |
ADV | Ardiden Ltd | 0.0175 | 29 | $ 36,092,052.03 |
AMN | Agrimin Ltd | 0.46 | 29 | $ 103,262,608.05 |
TSL | Titanium Sands Ltd | 0.025 | 29 | $ 15,688,368.64 |
AOA | Ausmon Resorces | 0.004 | 28 | $ 2,722,637.37 |
OPY | Openpay Group | 2.26 | 28 | $ 184,189,134.42 |
MTH | Mithril Resources | 0.019 | 28 | $ 39,654,427.77 |
ENV | Enova Mining Limited | 0.02 | 27 | $ 6,773,176.88 |
S2R | S2 Resources | 0.17 | 26 | $ 56,680,412.22 |
QFE | Quickfee Limited | 0.42 | 24 | $ 84,617,700.30 |
AIV | Activex Limited | 0.12 | 23 | $ 21,259,521.12 |
DTC | Damstra Holdings | 1.4 | 23 | $ 257,802,119.40 |
MCP | McPherson's Ltd | 1.2 | 23 | $ 147,663,979.00 |
APX | Appen Limited | 25.87 | 22 | $ 3,205,454,851.00 |
NAG | Nagambie Resources | 0.04 | 20 | $ 21,497,090.88 |
SO4 | Salt Lake Potash Ltd | 0.405 | 19 | $ 280,949,993.76 |
DDT | DataDot Technology | 0.006 | 19 | $ 8,693,086.26 |
CAQ | CAQ Holdings Ltd | 0.04 | 17 | $ 28,711,451.24 |
AND | Ansarada Group Ltd | 1.53 | 14 | $ 127,102,224.64 |
KPE | Kina Petroleum Corp | 0.26 | 7 | $ 3,301,223.90 |
KLR | Kaili Resources Ltd | 0.026 | 1 | $ 3,832,409.44 |