Hot Money Monday: GLG Corp is the most in-demand stock on the ASX right now
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A Friday surge where the stock more than doubled was enough to put textiles company GLG Corp (ASX:GLE) at the top of this week’s list.
Stockhead’s Hot Money Monday 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 look-out 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, February 26:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
GLE | GLG Corp Ltd | 0.3 | 99 | $ 8,892,000 |
TPC | TPC Consolidated Ltd | 2.1 | 93 | $ 23,888,787 |
LAM | Laramide Res Ltd | 0.59 | 92 | $ 623,201 |
UUL | Ultima Utd Ltd | 0.93 | 89 | $ 34,824,327 |
WWG | Wisewaygroup Ltd | 0.32 | 88 | $ 45,603,600 |
VXR | Venturex Resources | 0.345 | 86 | $ 127,846,547 |
SLK | Sealink Travel Grp | 8.53 | 84 | $ 1,878,231,813 |
GRR | Grange Resources. | 0.525 | 82 | $ 509,229,027 |
MLX | Metals X Limited | 0.24 | 82 | $ 217,743,856 |
CDD | Cardno Limited | 0.445 | 81 | $ 174,557,776 |
QPM | Queensland Pacific | 0.097 | 79 | $ 93,294,758 |
TNR | Torian Resources Ltd | 0.058 | 78 | $ 45,223,936 |
ZIM | Zimplats Holding Ltd | 16.83 | 77 | $ 1,638,245,018 |
PIQ | Proteomics Int Lab | 1.39 | 77 | $ 138,475,755 |
AVR | Anteris Technologies | 6.88 | 76 | $ 47,426,758 |
DNK | Danakali Limited | 0.56 | 76 | $ 172,631,707 |
BDM | Burgundy D Mines Ltd | 0.29 | 76 | $ 74,776,377 |
RNU | Renascor Res Ltd | 0.06 | 75 | $ 103,274,010 |
C6C | Copper Mountain | 3.3 | 75 | $ 58,850,927 |
CCE | Carnegie Cln Energy | 0.007 | 74 | $ 63,740,433 |
OIL | Optiscan Imaging | 0.24 | 74 | $ 152,176,427 |
CGO | CPT Global Limited | 0.43 | 74 | $ 16,889,072 |
A4N | Alpha Hpa Ltd | 0.52 | 74 | $ 339,264,181 |
IGL | Ivegroup | 1.54 | 73 | $ 216,408,708 |
RCP | Redbank Copper Ltd | 0.105 | 73 | $ 45,113,265 |
AQS | Aquis Ent Ltd | 0.42 | 71 | $ 16,966,609 |
CWX | Carawine Resources | 0.325 | 71 | $ 34,844,769 |
IDA | Indiana Resources | 0.09 | 71 | $ 25,311,309 |
PUR | Pursuit Minerals | 0.064 | 70 | $ 47,812,285 |
PVL | Powerhouse Ven Ltd | 0.082 | 70 | $ 5,299,124 |
EGL | Environmental Group | 0.064 | 70 | $ 19,111,284 |
BEE | Broo Ltd | 0.018 | 70 | $ 17,969,306 |
GLE’s gains came a day after GLE released its half-year results on Thursday, where it reported a net profit of $US1.312m on revenues of $US99.45m and declared a US1c interim dividend.
Mobile telecommunications company TPC Consolidated (ASX:TPC) also ran hot, posting six straight days of gains ahead of the release of its half-year results which came out on Friday.
And topping the resources sector in the Running Hot list this week was Canada-based uranium play Laramide Resources (ASX:LAM), which posted a couple of strong days of gains after coming out of a multi-month trading halt at the start of last week.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, February 26:
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | RSI | Market Cap |
---|---|---|---|---|
ICE | Icetana Limited | 0.1 | 30 | $ 11,809,709 |
MLD | MACA Limited | 1.1 | 30 | $ 392,967,473 |
CXX | Cradle Resources Ltd | 0.061 | 29 | $ 11,570,589 |
IRI | Integrated Research | 2.14 | 28 | $ 377,150,309 |
KSN | Kingston Resources | 0.205 | 28 | $ 63,801,438 |
HUB | HUB24 Ltd | 20.91 | 28 | $ 1,479,693,014 |
PF1 | Pathfinder Resources | 0.23 | 27 | $ 12,431,048 |
TOU | Tlou Energy Ltd | 0.048 | 27 | $ 25,209,554 |
RML | Resolution Minerals | 0.26 | 26 | $ 7,604,284 |
CRN | Coronado Global Res | 1.02 | 26 | $ 1,681,412,864 |
SEK | Seek Limited | 25.56 | 26 | $ 9,182,315,242 |
RAP | Resapp Health Ltd | 0.054 | 26 | $ 43,212,811 |
NXL | Nuix Limited | 6.45 | 25 | $ 2,846,224,002 |
APX | Appen Limited | 16.55 | 25 | $ 2,062,746,900 |
VBC | Verbrec Limited | 0.17 | 25 | $ 34,004,977 |
CTE | Cryosite Limited | 0.19 | 25 | $ 9,371,913 |
ELO | Elmo Software | 5.11 | 22 | $ 464,853,471 |
ORI | Orica Limited | 12.33 | 21 | $ 6,242,197,271 |
SSM | Service Stream | 1.19 | 17 | $ 549,079,550 |
AT1 | Atomo Diagnostics | 0.235 | 16 | $ 99,933,133 |