Hot Money Monday: These are the most in-demand stocks on the ASX right now
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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:
There were some new names up the top of this week’s list, including water treatment company Waterco (ASX:WAT) which heated up with a reading of 83.51.
Waterco, which has been listed on the ASX since 1989, provides treatment solutions for different environments including private swimming pools through to industrial applications.
2019 has been a topsy turvy year for the company, which fell from around $2.40 in April and slumped sharply again in April before regaining momentum. Aside from a series of daily share buybacks, the stock has had no news in recent weeks but continues to push back towards January highs.
Takeover target Konekt (ASX:KKT) topped this week’s list, after receiving a new and improved all-cash offer from suitor Advanced Personnel Management International, this time valuing the workplace health solutions platform at 64c per share.
And despite the well-documented structural headwinds facing Australia’s retail sector, one listed player in the space has bucked the trend.
Shares in discount retailer The Reject Shop (ASX:TRS) have climbed steadily in recent weeks, and are now up by around 40 per cent from September lows.
The stock gained momentum in the wake of a mid-October trading update, when it said comparable same-store sales growth was up 0.3 per cent in FY20, a turnaround from -2.5 per cent in the second half of the 2019 financial year.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 8:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price ($) | 14-day RSI | Market Cap |
---|---|---|---|---|
KKT | KONEKT LTD | 0.63 | 92.9 | 67.17M |
WAT | WATERCO LTD | 2.4 | 83.51 | 87.78M |
TRS | The REJECT SHOP LTD | 2.69 | 83.25 | 77.76M |
CSV | CSG LTD | 0.31 | 82.98 | 137.02M |
QMS | QMS MEDIA LTD | 1.22 | 82.84 | 420.58M |
EGA | EGAN STREET RESOURCES LTD | 0.5 | 81.97 | 69.82M |
OSL | ONCOSIL MEDICAL LTD | 0.18 | 78.82 | 113.53M |
PAN | PANORAMIC RESOURCES LTD | 0.43 | 77.96 | 281.32M |
CT1 | CCP TECHNOLOGIES LTD | 0.02 | 77.91 | 14.55M |
NHL | NOVITA HEALTHCARE LTD | 0.1 | 76.23 | 63.63M |
IKW | IKWEZI MINING LTD | 0 | 75.65 | 8.13M |
NVO | NVOI LTD | 0.02 | 75.11 | 24.62M |
OCL | OBJECTIVE CORPORATION LTD | 4.7 | 74.51 | 437.00M |
EEG | EMPIRE ENERGY GROUP LTD | 0.49 | 74.34 | 112.19M |
COO | CORUM GROUP LTD | 0.05 | 73.82 | 13.58M |
KGD | KULA GOLD LTD | 0.03 | 73.7 | 1.88M |
MCX | MARINER CORP LTD | 0.06 | 73.4 | 892.98k |
CL1 | CLASS LTD | 1.92 | 73.28 | 225.91M |
RIC | RIDLEY CORP LTD | 1.16 | 72.91 | 361.06M |
EGH | EUREKA GROUP HOLDINGS LTD | 0.33 | 72.85 | 75.91M |
VHT | VOLPARA HEALTH TECHNOLOGIES | 1.92 | 72.55 | 419.77M |
WBT | WEEBIT NANO LTD | 0.45 | 72.44 | 32.37M |
SVM | SOVEREIGN METALS LTD | 0.11 | 72.41 | 39.52M |
SIO | SIMONDS GROUP LTD | 0.43 | 72.15 | 61.85M |
APV | APPSVILLAGE AUSTRALIA LTD | 0.21 | 72.14 | 14.00M |
AV1 | ADVERITAS LTD | 0.18 | 72.03 | 33.77M |
AGY | ARGOSY MINERALS LTD | 0.08 | 71.1 | 83.44M |
INV | INVESTSMART GROUP LTD | 0.13 | 71 | 17.10M |
RKN | RECKON LTD | 0.87 | 70.99 | 98.57M |
NUS | NUSANTARA RESOURCES LTD | 0.34 | 70.83 | 57.27M |
BTH | BIGTINCAN HOLDINGS LTD | 0.68 | 70.54 | 208.02M |
MNC | METMINCO LTD | 0.1 | 70.48 | 16.15M |
TLX | TELIX PHARMACEUTICALS LTD | 1.78 | 70.43 | 450.84M |
UCW | UCW LTD | 0.24 | 70.38 | 28.20M |
ICS | ICSGLOBAL LTD | 1.53 | 70.1 | 16.31M |
The stocks that were running cold for the two weeks ended Friday, November 8:
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 |