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

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:

Running Hot

There was a new leader on this week’s list, as National Veterinary Care (ASX:NVL) shot to the top with an RSI of 89.7 on the back of a $3.70-per-share takeover offer from VetPartners.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, December 20:

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

Code	Name	Price	2 Week RSI	Market Cap
NVL	NATIONAL VETERINARY CARE LTD	3.6	89.7	241.71M
BRI	BIG RIVER INDUSTRIES LTD	1.45	87.45	90.58M
AZM	AZUMAH RESOURCES LTD	0.03	82.63	33.27M
QTM	QUANTUM HEALTH GROUP LTD	0.04	82.55	45.13M
TRS	THE REJECT SHOP LTD	3.07	81.41	88.75M
BFG	BELL FINANCIAL GROUP LTD	1.2	79.66	384.89M
AML	AEON METALS LTD	0.17	79.52	114.59M
MAG	MAGMATIC RESOURCES LTD	0.22	79.2	34.92M
MRQ	MRG METALS LTD	0.02	78.62	19.46M
EAI	ELLERSTON ASIAN INVESTMENTS	1.05	77.3	149.92M
CG1	CARBONXT GROUP LTD	0.51	76.86	54.37M
SLM	SALMAT LTD	0.81	76.55	161.73M
GFL	GLOBAL MASTERS FUND LTD	2.12	76.44	21.12M
AFR	AFRICAN ENERGY RESOURCES-CDI	0.02	75.89	11.21M
CGR	CML GROUP LTD	0.56	75.39	121.84M
MHI	MERCHANT HOUSE INTL LTD	0.12	74.76	10.84M
NWE	NORWEST ENERGY NL	0.01	74.45	28.31M
WGN	WAGNERS HOLDING CO LTD	2.59	73.98	484.84M
WGB	WAM GLOBAL LTD	2.32	73.97	487.25M
HIT	HITECH GROUP AUSTRALIA LTD	1.24	73.13	47.18M
BID	BIDENERGY LTD	0.82	72.99	104.79M
CGL	THE CITADEL GROUP LTD	4.51	72.74	222.37M
FSA	FSA GROUP LTD	1.32	72.7	165.12M
APD	APN PROPERTY GROUP LTD	0.62	71.83	197.17M
ADA	ADACEL TECHNOLOGIES LTD	0.61	71.51	46.51M
SGLLV	RICEGROWERS LIMITED	4.4	71.16	262.77M
IRD	IRON ROAD LTD	0.06	70.98	43.70M
CRM	CARBON MINERALS LTD	0.18	70.91	3.38M
PAL	PALLA PHARMA LTD	1.03	70.9	129.73M
GVF	GLOBAL VALUE FUND LTD	1.11	70.88	162.80M
CHN	CHALICE GOLD MINES LTD	0.22	70.77	60.29M
PAI	PLATINUM ASIA INVESTMENTS LTD	1.09	70.69	375.72M
RPM	RPM AUTOMOTIVE GROUP LTD	0.18	70.57	16.10M
VRT	VIRTUS HEALTH LTD	4.77	70.56	383.45M
OLH	OLDFIELDS HOLDINGS LTD	0.09	70.39	7.40M
EGH	EUREKA GROUP HOLDINGS LTD	0.37	70.09	83.96M

Running Cold

After climbing steadily for a number of weeks, the number of stocks on the Running Cold list fell back to 57 from last week’s new high of 82.

Small business lender Prospa (ASX:PGL) continues to languish at the cooler end of the list, where it’s been since issuing a trading update on November 18 in which the company said revenue was unlikely to match its prospectus forecasts.

This week it was propping up the tail with an RSI reading of just 14.67, as the share price fell to a new low of $1.65.

Here’s a summary of the stocks that were running hot for the two weeks ended Friday, December 20:

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

Code	Name	Price	2 Week RSI	Market Cap
APC	AUSTRALIAN POTASH LTD	0.08	29.97	26.82M
PRX	PRODIGY GOLD NL	0.06	29.53	35.42M
AJM	ALTURA MINING LTD	0.05	29.5	126.38M
S2R	S2 RESOURCES LTD	0.1	29.43	24.79M
STN	SATURN METALS LTD	0.29	29.36	21.59M
PPG	PRO-PAC PACKAGING LTD	0.1	29.08	81.11M
CVW	CLEARVIEW WEALTH LTD	0.43	28.94	287.34M
CIO	CONNECTED IO LTD	0.003	28.89	5.47M
KLH	KALIA LTD	0.07	28.63	1.76M
A1M	AIC MINES LTD	0.31	28.59	16.12M
TDL	TBG DIAGNOSTICS LTD	0.02	28.43	3.92M
HT8	HARRIS TECHNOLOGY GROUP LTD	0.01	27.98	1.71M
GAP	GALE PACIFIC LTD	0.25	27.98	70.82M
BNO	BIONOMICS LTD	0.08	27.89	43.03M
PAK	PACIFIC AMERICAN HOLDINGS LTD	0.03	27.63	4.46M
HRZ	HORIZON MINERALS LTD	0.09	27.63	37.23M
SHO	SPORTSHERO LTD	0.03	27.5	9.52M
EXL	ELIXINOL GLOBAL LTD	0.64	27.39	88.25M
NCZ	NEW CENTURY RESOURCES LTD	0.23	27.39	149.90M
CAU	CRONOS AUSTRALIA LTD	0.21	27.34	27.04M
LVT	LIVETILES LTD	0.25	27.14	219.41M
ACB	A-CAP ENERGY LTD	0.01	27.02	7.85M
MXR	MAXIMUS RESOURCES LTD	0.05	26.96	1.67M
SFM	SANTA FE MINERALS LTD	0.07	26.96	5.10M
BDC	BARDOC GOLD LTD	0.07	26.96	97.31M
GLN	GALAN LITHIUM LTD	0.14	26.83	21.32M
OKR	OKAPI RESOURCES LTD	0.14	26.75	4.87M
EQX	EQUATORIAL RESOURCES LTD	0.25	26.6	30.49M
KOR	KORAB RESOURCES LTD	0.01	26.18	2.85M
VOL	VICTORY OFFICES LTD	1.8	26.15	73.82M
TGO	TRIMANTIUM GROWTHOPS LTD	0.09	25.96	12.51M
MLX	METALS X LTD	0.07	25.64	64.42M
PXS	PHARMAXIS LTD	0.14	25.4	57.23M
CXX	CRADLE RESOURCES LTD	0.03	25.02	5.69M
ONE	ONEVIEW HEALTHCARE PLC-CDI	0.11	24.5	19.05M
DVL	DORSAVI LTD	0.02	24.08	4.23M
LHB	LIONHUB GROUP LTD	0.003	24.07	2.48M
GLL	GALILEE ENERGY LTD	0.63	24	163.56M
MEI	METEORIC RESOURCES NL	0.03	23.48	34.77M
HRN	HORIZON GOLD LIMITED	0.18	23.46	13.78M
ARV	ARTEMIS RESOURCES LTD	0.02	23.35	18.78M
OSP	OSPREY MEDICAL INC-CDI	0.03	23.16	12.09M
AMG	AUSMEX MINING GROUP LTD	0.06	22.75	33.21M
RVS	REVASUM INC-CDI	0.57	21.07	44.34M
CVT	COVATA LTD	0.07	21.02	2.75M
YOJ	YOJEE LTD	0.05	20.92	43.32M
LCT	LIVING CELL TECHNOLOGIES LTD	0.01	20.65	8.57M
CPH	CRESO PHARMA LTD	0.12	20.53	20.89M
RBL	REDBUBBLE LTD	0.99	20.38	256.06M
DCG	DECMIL GROUP LTD	0.63	19.55	149.54M
MNS	MAGNIS ENERGY TECHNOLOGIES LTD	0.08	19.17	52.34M
UUL	ULTIMA UNITED LTD	0.02	18.65	469.21k
SST	STEAMSHIPS TRADING COMPANY	12.5	17.24	387.60M
8EC	8IP EMERGING COS LTD	0.07	17.09	2.95M
RHY	RHYTHM BIOSCIENCES LTD	0.13	16.32	12.59M
8VI	8VIC HOLDINGS LTD	0.15	16.14	6.08M
PGL	PROSPA GROUP LTD	1.68	14.67	271.07M