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

Each Monday, Stockhead recaps the ASX stocks that are the heaviest bought (in other words 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 being overbought or sold (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, December 18:

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

Code	Company	Price	RSI	MktCap$
AVZ	AVZ Minerals Ltd	0.19	83	$ 487,474,746.36
GWR	GWR Group Ltd	0.43	86	$ 119,176,426.44
PNN	PepinNini Minerals	0.375	76	$ 13,123,035.79
CXO	Core Lithium	0.11	84	$ 96,789,541.14
ORM	Orion Metals Ltd	0.02	72	$ 10,901,948.86
EMR	Emerald Res NL	0.86	73	$ 438,087,625.95
EMH	European Metals Hldg	1.14	85	$ 127,322,685.25
NMT	Neometals Ltd	0.29	74	$ 152,698,354.48
AL8	Alderan Resource Ltd	0.12	73	$ 34,263,225.58
VRX	VRX Silica Ltd	0.335	74	$ 165,681,492.57
COB	Cobalt Blue Ltd	0.165	77	$ 41,347,713.99
TI1	Tombador Iron	0.062	72	$ 46,701,531.50
G1A	Galena Mining	0.295	79	$ 136,247,329.14
ORE	Orocobre Limited	4.57	71	$ 1,551,636,437.56
SGM	Sims Limited	13.52	79	$ 2,683,508,458.68
MLX	Metals X Limited	0.14	75	$ 127,017,249.38
MIN	Mineral Resources.	37.28	76	$ 6,934,730,111.77
PRS	Prospech Limited	0.2	72	$ 13,004,117.80
GOR	Gold Road Res Ltd	1.3	72	$ 1,121,904,053.70
GNG	Gr Engineering Ltd	1.21	72	$ 187,735,358.69
RAG	Ragnar Metals Ltd	0.011	74	$ 3,447,664.68
EOL	Energy One Limited	6.2	78	$ 159,034,826.72
AHY	Asaleo Care Limited	1.37	76	$ 749,509,037.58
NXE	New Energy Minerals	0.027	72	$ 4,980,733.77
ARC	Aust Rural Cap Ltd	0.004	78	$ 5,178,496.00
TML	Timah Resources Ltd	0.08	97	$ 7,335,542.00
TPP	Tempo Australia	0.061	75	$ 22,120,765.74

The majority of most-bought ASX stocks were resources stocks. One was lithium explorer AVZ Minerals (ASX:AVZ) which has a project in the Democratic Republic of the Congo.

On Christmas Eve, the company announced it had secured its first offtake partner in Ganfeng Lithium subsidiary GFL International.

Another was mineral sands play VRX Silica (ASX:VRX) which is eyeing the commencement of construction at its Arrowsmith project in WA.

One of the few non-resources stocks running hot was Asaleo Care Limited (ASX:AHY). It is no stranger to this list in recent times having recently received an on-binding takeover proposal from Sweden-based Essity AB.

Last week it announced an acquisition of its own in TOM Organic which it will pay $12.75 million for.

Running Cold

Here’s a summary of the stocks that were running cold for the two weeks ended Friday, December 18:

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

Code	Company	Price	RSI	Market Cap
CUE	CUE Energy Resource	0.091	28	$ 63,528,894.52
AVE	Avecho Biotech Ltd	0.03	62	$ 43,170,156.36
TMX	Terrain Minerals	0.009	30	$ 6,621,849.08
GES	Genesis Resources	0.011	16	$ 8,611,254.23
PO3	Purifloh Ltd	1.43	25	$ 46,339,542.06
IRI	Integrated Research	2.63	27	$ 451,097,852.86
DGR	DGR Global Ltd	0.065	29	$ 66,339,353.44
S2R	S2 Resources	0.13	30	$ 40,935,853.27
CF1	Complii Fintech Ltd	0.057	4	$ 12,917,683.18
SEG	Sports Ent Grp Ltd	0.225	16	$ 51,997,737.60
COH	Cochlear Limited	190.91	28	$ 12,619,791,512.92
CRM	Carbon Minerals Ltd	0.38	29	$ 7,145,327.34

Cue Energy (ASX:CUE) has been heavily sold in the last few days after disappointing exploration results at its Ironbark oil well.

Software stock Integrated Research (ASX:IRI) has also been heavily sold after a company update where it slashed forward revenue and profit estimates.