Hot Money Monday: These are the most in-demand stocks on the ASX right now
News
News
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 was a new leader on the Hot Money list, as timber products company Big River Industries (ASX:BRI) ran hot with an RSI reading of 81.18.
The stock hasn’t had any market-moving news of note lately, but BRI shares have been building momentum in the second half of the year after bottoming out below $1 in June off the back of a lacklustre December-half trading update.
And cleaning and security contractor Millennium Services Group (ASX:MIL) also ran hot, after announcing it had secured new long-term contracts with two major customers — including an ASX-listed retailer — with a combined value of $118m.
Millennium Services listed on the ASX in 2015 at $2.25 per share, but traded for most of 2019 at 20c before its recent rally.
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, December 6:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price | 2 Week RSI | Market Cap |
---|---|---|---|---|
BRI | BIG RIVER INDUSTRIES LTD | 1.36 | 81.18 | 84.96M |
MIL | MILLENNIUM SERVICES GROUP LTD | 0.5 | 80.92 | 22.73M |
ADH | ADAIRS LTD | 2.28 | 79.75 | 378.19M |
APD | APN PROPERTY GROUP LTD | 0.61 | 79.19 | 192.40M |
KKT | KONEKT LTD | 0.7 | 77.55 | 74.05M |
ICS | ICSGLOBAL LTD | 1.99 | 76.57 | 21.10M |
NTM | NTM GOLD LTD | 0.07 | 76.3 | 43.12M |
SNL | SUPPLY NETWORK LTD | 4.47 | 76.07 | 182.20M |
ADD | ADAVALE RESOURCES LTD | 0.02 | 75.98 | 3.08M |
EGI | ELLERSTON GLOBAL INVESTMENTS | 1.13 | 75.9 | 123.87M |
VR1 | VECTION TECHNOLOGIES LTD | 0.03 | 75.62 | 16.43M |
CSV | CSG LTD | 0.31 | 75.39 | 137.02M |
MHI | MERCHANT HOUSE INTL LTD | 0.12 | 74.76 | 10.84M |
IGL | IVE GROUP LTD | 2.27 | 74.68 | 336.43M |
OLH | OLDFIELDS HOLDINGS LTD | 0.09 | 74.48 | 7.31M |
RHT | RESONANCE HEALTH LTD | 0.22 | 74.48 | 94.13M |
CGO | CPT GLOBAL LIMITED | 0.28 | 74.37 | 10.91M |
ECL | EXCELSIOR CAPITAL LTD | 1.44 | 74.21 | 41.75M |
EGH | EUREKA GROUP HOLDINGS LTD | 0.34 | 74.11 | 79.36M |
KSL | KINA SECURITIES LTD | 1.53 | 73.58 | 250.91M |
MCX | MARINER CORP LTD | 0.06 | 73.39 | 3.12M |
CYL | CATALYST METALS LTD | 3.16 | 73.29 | 260.36M |
PTX | PRESCIENT THERAPEUTICS LTD | 0.11 | 73.07 | 43.37M |
NUS | NUSANTARA RESOURCES LTD | 0.4 | 72.93 | 67.45M |
MAM | MICROEQUITIES ASSET MANAGEMENT | 0.52 | 72.68 | 69.18M |
PWG | PRIMEWEST GROUP LTD | 1.15 | 72.53 | 401.51M |
CMM | CAPRICORN METALS LTD | 1.25 | 72.24 | 405.93M |
ADT | ADRIATIC METALS PLC-CDI | 1.63 | 71.94 | 288.79M |
CNL | CELAMIN HOLDINGS LTD | 0.15 | 71.46 | 22.41M |
ANG | AUSTIN ENGINEERING LTD | 0.23 | 71.37 | 133.17M |
OLV | OTHERLEVELS HOLDINGS LIMITED | 0.01 | 70.4 | 4.02M |
INV | INVESTSMART GROUP LTD | 0.13 | 70.18 | 17.79M |
HLA | HEALTHIA LTD | 1.08 | 70.17 | 68.08M |
SLM | SALMAT LTD | 0.69 | 70.01 | 136.77M |
One thing that stood out this week is that the list of stocks with an RSI reading below 30 has been growing steadily in recent weeks.
Last week it was 54 — a new high — usurped this week by a total of 63 companies.
Among the names on the Running Cold list were Strike Energy (ASX:STX) and Warrego Energy (ASX:WGO), which have cooled off into the end of the year after some big price gains following the announcement of the big gas discovery at their West Erregulla joint venture in the Perth Basin.
Here’s a summary of the stocks that were running cold for the two weeks ended Friday, December 6:
Scroll or swipe to reveal table. Click headings to sort.
Code | Name | Price | 2 Week RSI | Market Cap |
---|---|---|---|---|
GLL | GALILEE ENERGY LTD | 0.73 | 29.79 | 174.81M |
FAU | FIRST AU LTD | 0.01 | 29.77 | 2.69M |
RFT | RECTIFIER TECHNOLOGIES LTD | 0.04 | 29.55 | 60.22M |
LCK | LEIGH CREEK ENERGY LTD | 0.14 | 29.45 | 81.56M |
MEY | MARENICA ENERGY LTD | 0.07 | 29.29 | 6.27M |
TZN | TERRAMIN AUSTRALIA LTD | 0.03 | 29.05 | 63.57M |
MEP | MINOTAUR EXPLORATION LTD | 0.04 | 29.05 | 15.65M |
CLQ | CLEAN TEQ HOLDINGS LTD | 0.2 | 29.04 | 153.02M |
FAR | FAR LTD | 0.05 | 29.01 | 288.90M |
MNS | MAGNIS ENERGY TECHNOLOGIES L | 0.1 | 28.93 | 61.68M |
HRN | HORIZON GOLD LIMITED | 0.21 | 28.63 | 16.07M |
KLHDC | KALIA LTD | 0.07 | 28.63 | 1.76M |
YOJ | YOJEE LTD | 0.06 | 28.38 | 49.26M |
ATC | ALTECH CHEMICAL LTD | 0.1 | 28.37 | 74.63M |
STG | STRAKER TRANSLATIONS LTD | 1.47 | 28.13 | 77.88M |
BDC | BARDOC GOLD LTD | 0.08 | 27.99 | 108.43M |
CTM | CENTAURUS METALS LTD | 0.01 | 27.93 | 41.70M |
DVL | DORSAVI LTD | 0.03 | 27.84 | 5.30M |
CSE | COPPER STRIKE LTD | 0.04 | 27.84 | 3.74M |
PCG | PENGANA CAPITAL GROUP LTD | 1.6 | 27.59 | 163.66M |
CXX | CRADLE RESOURCES LTD | 0.03 | 27.5 | 6.45M |
STX | STRIKE ENERGY LTD | 0.16 | 27.5 | 272.73M |
EXL | ELIXINOL GLOBAL LTD | 0.95 | 27.41 | 131.00M |
MNF | MNF GROUP LTD | 4.6 | 27.35 | 386.68M |
ONE | ONEVIEW HEALTHCARE PLC-CDI | 0.14 | 27.26 | 24.25M |
G1A | GALENA MINING LTD | 0.27 | 27.23 | 103.74M |
CAP | CARPENTARIA RESOURCES LTD | 0.03 | 27.18 | 7.70M |
TRS | REJECT SHOP LTD/THE | 2.02 | 27.11 | 58.39M |
ACB | A-CAP ENERGY LTD | 0.01 | 27.02 | 7.85M |
CAG | CAPE RANGE LTD | 0.58 | 26.79 | 48.94M |
SFM | SANTA FE MINERALS LTD | 0.07 | 26.46 | 5.17M |
SDA | SPEEDCAST INTERNATIONAL LTD | 0.73 | 25.99 | 173.81M |
CNB | CARNABY RESOURCES LTD | 0.06 | 25.98 | 6.24M |
MMM | MARLEY SPOON AG-CDI | 0.28 | 25.58 | 41.63M |
WGO | WARREGO ENERGY LTD | 0.17 | 24.99 | 124.09M |
CAZ | CAZALY RESOURCES LTD | 0.02 | 24.49 | 7.61M |
MCM | MC MINING LTD | 0.46 | 24.28 | 64.10M |
FBR | FBR LTD | 0.04 | 24.11 | 69.19M |
VR8 | VANADIUM RESOURCES LTD | 0.03 | 23.99 | 11.23M |
CXM | CENTREX METALS LTD | 0.04 | 23.9 | 11.05M |
ATS | AUSTRALIS OIL & GAS LTD | 0.08 | 23.86 | 76.91M |
MCT | METALICITY LTD | 0.004 | 23.84 | 2.89M |
G88 | GOLDEN MILE RESOURCES LTD | 0.04 | 23.78 | 2.93M |
TGO | TRIMANTIUM GROWTHOPS LTD | 0.09 | 23.52 | 11.81M |
RFG | RETAIL FOOD GROUP LTD | 0.09 | 22.95 | 196.76M |
ROO | ROOTS SUSTAINABLE AGRICU-CDI | 0.03 | 22.91 | 3.27M |
KSC | K & S CORP LTD | 1.53 | 22.71 | 194.74M |
AC8 | AUSCANN GROUP HOLDINGS LTD | 0.19 | 22.68 | 60.24M |
GAP | GALE PACIFIC LTD | 0.26 | 22.67 | 72.21M |
CAN | CANN GROUP LTD | 0.47 | 22.24 | 65.97M |
ARC | AUSTRALIAN RURAL CAPITAL LTD | 0.25 | 21.92 | 3.24M |
ISD | ISENTIA GROUP LTD | 0.25 | 21.85 | 50.00M |
MRG | MURRAY RIVER ORGANICS GROUP | 0.05 | 21.63 | 21.69M |
AGH | ALTHEA GROUP HOLDINGS LTD | 0.34 | 21.39 | 78.16M |
DEG | DE GREY MINING LTD | 0.04 | 20.1 | 39.42M |
CAU | CRONOS AUSTRALIA LTD | 0.23 | 19.79 | 29.61M |
AJX | ALEXIUM INTERNATIONAL GROUP | 0.06 | 18.7 | 22.80M |
UUL | ULTIMA UNITED LTD | 0.02 | 17.86 | 527.86k |
CVT | COVATA LTD | 0.1 | 17.85 | 3.93M |
GIB | GIBB RIVER DIAMONDS LTD | 0.02 | 17.55 | 3.04M |
AGS | ALLIANCE RESOURCES LTD | 0.1 | 16.2 | 16.17M |
PGL | PROSPA GROUP LTD | 1.9 | 15.25 | 306.57M |
CPH | CRESO PHARMA LTD | 0.14 | 14 | 24.38M |