ASX Momentum Leaders — Weekly Top 10 by Quarterly Momentum
Updated: 4 days ago
Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Updated September 2026
The FMP ASX Momentum Leaders are the ten ASX-listed stocks with the strongest quarterly price momentum, ranked by a proprietary momentum score and updated on this page every week. For the week ending Saturday 12 September 2026, Iondrive Limited (ION) holds the #1 momentum rank on a +542.86% quarterly gain, Australian Vanadium Limited (AVL) holds #2 on +66.67%, and gold exploration leads this week's themes with four of the ten places. This page always shows the current week's Top 10; the full written analysis for each week is linked below.
Which ASX Stocks Are the Current Momentum Leaders? — Week Ending Saturday 12 September 2026
Data current as of Friday 11 September 2026, settled session close.
Rank | Company | ASX Code | Quarterly Gain | Weekly Gain | Days on List | Launch Pad Entry | Gain Since Launch Pad | Thematic |
1 | Iondrive | ION | +542.86% | +58.82% | 45+ | 35 sessions | +237.5% | Rare earth recycling |
2 | Australian Vanadium | AVL | +66.67% | +41.03% | 3 | 24 sessions | +61.76% | Vanadium |
3 | DXN Limited | DXN | +189.29% | −3.57% | 45+ | 28 sessions | +145.45% | Modular data centres / AI infrastructure |
4 | Recharge Metals | REC | +50.00% | +37.5% | 3 | 16 sessions | +32.00% | Gold exploration |
5 | Tungsten Mining | TGN | +62.22% | +17.74% | 9 | 19 sessions | +65.91% | Tungsten |
6 | Alara Resources | AUQ | +91.00% | +36.17% | 30 | 40 sessions | +72.97% | Copper |
7 | Bapcor | BAP | +76.26% | −8.34% | 11 | 31 sessions | +80.22% | Automotive retail |
8 | First Au | FAU | +22.22% | +10.00% | 14 | 17 sessions | +57.14% | Gold exploration |
9 | BPM Minerals | BPM | +28.95% | +40.00% | 3 | 40 sessions | +40.00% | Gold exploration |
10 | Sierra Nevada Gold | SNX | +64.56% | +8.33% | 36 | 36 sessions | +73.33% | Gold exploration |
Ten names are shown this week, and every one of them carries a current Launch Pad entry — there is no em-dash row this week. Day counts are trading sessions, not calendar days, and are capped at 45 in the source data — a figure shown as "45+" means at least 45 sessions. Sessions on the momentum list and sessions since Launch Pad entry are separate counters drawn from separate rankings and are not expected to agree. Figures are drawn from Finer Market Points' proprietary momentum research.
Full analysis of this week's list: ASX Top 10 Momentum Stocks — Saturday 12 September 2026 — the leading themes, the standout movers, and what the week's data reveals about ASX momentum conditions.
How Does Finer Market Points Identify ASX Momentum Leaders?
Finer Market Points ranks every eligible ASX stock using a proprietary momentum score built on price performance across multiple time windows, then publishes the Top 10 here each week. Because the score weighs more than one window, a stock can reach the list on strong recent acceleration even when its full-quarter return is modest. The framework also tracks how many trading sessions each stock has held momentum status, and whether it was first flagged on the FMP Launch Pad — a separate, earlier momentum-derived signal delivered to members before the public list. Momentum leadership of this kind often appears first as relative strength and tight volatility contraction patterns on the chart, well before a theme is widely discussed.
Which Themes Have Led ASX Momentum in 2026?
Gold exploration has been the most persistent theme on the ASX momentum list in the period Finer Market Points has recorded. It has appeared in 14 of the 16 weekly readings taken between 30 May and 12 September 2026, and in every reading since 13 June — a run carried by 17 distinct companies rather than one stock repeating.
Eight specific themes are now on a run of three weekly readings or longer — gold exploration, information technology, copper, green-economy exposure, nickel, lithium, offshore earnings and tungsten — up from four a week earlier.
Green-economy exposure holds the best average position of any theme still running. Its members average position 3.4 across a three-reading run carried by two companies, against gold exploration's 6.2 across fourteen readings.
Molybdenum re-entered a run this week, on two consecutive readings — carried by Recharge Metals (ASX: REC) and Tungsten Mining (ASX: TGN), the same two companies carrying this week's tungsten run. One more consecutive reading, carried by at least two distinct companies, would take it to Finer Market Points' three-reading threshold.
Health care held the largest reading count of any theme that has since left the list. It appeared in 10 of the 16 readings at an average position of 5.3 — carried by 12 distinct companies across the record — and was last seen on 5 September 2026.
Theme | Weeks on the list | Current run | Distinct companies | Average rank | First seen | Still leading? |
Gold exploration | 14 of 16 | 14 | 17 | 6.2 | 13 Jun 2026 | Yes |
Information technology | 8 of 16 | 4 | 2 | 4.2 | 27 Jun 2026 | Yes |
Copper | 13 of 16 | 4 | 5 | 6.5 | 30 May 2026 | Yes |
Green-economy exposure | 11 of 16 | 3 | 2 | 3.4 | 27 Jun 2026 | Yes |
Nickel | 12 of 16 | 3 | 2 | 3.8 | 18 Jun 2026 | Yes |
Lithium | 12 of 16 | 3 | 2 | 3.9 | 13 Jun 2026 | Yes |
Offshore earnings | 8 of 16 | 3 | 2 | 5.4 | 27 Jun 2026 | Yes |
Tungsten | 3 of 16 | 3 | 3 | 6.5 | 29 Aug 2026 | Yes |
Molybdenum | 9 of 16 | 2 | 2 | 5.2 | 13 Jun 2026 | Yes — re-entered 12 Sep 2026 |
Health care | 10 of 16 | 0 | 12 | 5.3 | 27 Jun 2026 | No — last seen 5 Sep 2026 |
Power generation | 8 of 16 | 0 | 3 | 3.6 | 6 Jun 2026 | No — last seen 22 Aug 2026 |
Medical devices | 8 of 16 | 0 | 6 | 4.4 | 27 Jun 2026 | No — last seen 5 Sep 2026 |
Coal seam gas and renewables | 8 of 16 | 0 | 2 | 5.6 | 30 May 2026 | No — last seen 5 Sep 2026 |
Renewable energy | 7 of 16 | 0 | 2 | 2.5 | 30 May 2026 | No — last seen 25 Jul 2026 |
Industrials | 7 of 16 | 0 | 6 | 4.9 | 18 Jul 2026 | No — last seen 5 Sep 2026 |
Average rank is the mean Top 10 position held by that theme's member stocks across the weeks it appeared — a lower number means the theme's stocks sat higher on the list. Current run counts consecutive weekly readings up to and including 12 September 2026.
This table is built from Finer Market Points' own weekly records — 16 readings between 30 May and 12 September 2026 — and is recalculated every Saturday. A theme counts as a leading theme only where its run is carried by at least two distinct companies: a run carried by a single stock is a stock, not a theme. Geographic classifications, such as "WA miner" (a 14-reading run), are excluded, and the broad parent buckets that sit above these categories — Explorer (14 readings, 26 companies), Mining (12 readings, 32 companies) and Materials (4 readings, 2 companies) — are classifications rather than themes. A place on this list measures price momentum only. It is not an assessment of any company's merit, value or prospects, and the arrival or departure of a theme is not a recommendation.
Which Themes Are Leading ASX Momentum This Week?
Gold exploration holds four of the ten places and leads this week's list outright. Recharge Metals (ASX: REC) held rank #4 for the week ending 12 September 2026 with a quarterly gain of +50.00%, following a Brandy Hill South tungsten-copper re-assay reported to the ASX on 7 September 2026. First Au (ASX: FAU) held rank #8 with a quarterly gain of +22.22% after 14 sessions on the momentum list, a Western Australian and Victorian gold explorer with projects near Kalgoorlie and in East Gippsland. BPM Minerals (ASX: BPM) entered at rank #9 with a weekly gain of +40.00%, its first-ever FMP Top 10 appearance, following final drilling approval for its Bonnie & Clyde prospect at the Forelands project on 10 September 2026. Sierra Nevada Gold (ASX: SNX) returned to the list at rank #10 with a quarterly gain of +64.56%, after a week away, on its ongoing As Safra copper-gold drilling programme in Saudi Arabia. For a deeper look at gold exploration momentum stocks, see FMP's gold explorer research hub.
Copper holds three places, spanning both producers and explorers. Alara Resources (ASX: AUQ) held rank #6 for the week ending 12 September 2026 with a quarterly gain of +91.00%, an operating Omani copper mine running output above nameplate capacity through FY26 — the only producer among this week's copper names. Recharge Metals (ASX: REC) and Sierra Nevada Gold (ASX: SNX), both named above, complete the copper theme.
Tungsten and molybdenum each hold two places, carried by the same two companies. Tungsten Mining (ASX: TGN) held rank #5 with a quarterly gain of +62.22%, extending its Mt Mulgine Pre-Feasibility Study catalyst with a second — full project permits for its Watershed asset in Queensland, reported to the ASX on 9 September 2026. Recharge Metals (ASX: REC) carries both the tungsten and molybdenum tags alongside its gold exploration listing above, via its Brandy Hill South project.
Two single-name themes hold the remaining places. Iondrive (ASX: ION) held rank #1 for the week ending 12 September 2026 with a quarterly gain of +542.86%, the largest on this week's list, extending its rare-earth-recycling pivot and its third consecutive week at the top of the FMP momentum list. Australian Vanadium (ASX: AVL) entered at rank #2 with a weekly gain of +41.03%, its first-ever FMP Top 10 appearance, an integrated vanadium miner and flow-battery developer at Gabanintha, Western Australia. DXN Limited (ASX: DXN) held rank #3 with a quarterly gain of +189.29%, its tenth Top 10 reading, extending its 2026 sequence of AI HPC modular data centre contracts. Bapcor (ASX: BAP) held rank #7 with a quarterly gain of +76.26% after topping the list on 5 September 2026, a pause following its FY26 results turnaround.
How Has the FMP Launch Pad Performed This Week?
All ten of this week's momentum leaders carry an FMP Launch Pad entry — every name on the list was flagged on the proprietary Launch Pad before this week's public list, the second week running with a full house. Returns since entering the Launch Pad range from +32.00% (Recharge Metals) to +237.5% (Iondrive), the standout this week; DXN Limited is second at +145.45% and Bapcor third at +80.22%. Across the ten the average return since entry is +86.63%, at an average of 28.6 trading sessions since entry. The shortest entry is Recharge Metals at 16 sessions. These figures describe historical price gains for the named stocks since they were flagged and are not a guide to future returns.
Which ASX Companies Has Finer Market Points Researched Recently?
Finer Market Points publishes in-depth research on individual ASX companies that have appeared in the momentum framework.
Iondrive (ASX: ION) — a rare-earth recycling technology company and this week's #1 momentum leader.
Gateway Mining (ASX: GML) — a WA gold explorer confirming fresh-rock mineralisation at its Cowza prospect.
Omega Oil & Gas (ASX: OMA) — a Queensland unconventional oil and gas explorer on a staged Canyon Project appraisal sequence.
Nuix (ASX: NXL) — investigative-analytics software and the FY26 result behind its momentum run.
What Methodology Sits Behind the FMP Momentum List?
The momentum leaders on this page are identified using principles drawn from Mark Minervini's SEPA methodology and William O'Neil's market-leadership research, adapted for the ASX. For the underlying framework, see what a VCP pattern is, how relative strength leads momentum, and how clusters of sister companies signal broad capital interest in a theme.
How Can Traders Access This Research Before It Publishes?
Members receive Thursday's full Top 30 momentum list and Launch Pad data at 2pm — more than 40 hours before this public list updates each Saturday. That early access is where next week's leaders often appear first: the Launch Pad names that may feed future momentum leadership show up in the members' data before they reach the public Top 10. The same membership includes the Momentum Profile, the full proprietary research behind the rankings. Become a YouTube Member to receive the educational momentum data discussed here first each week.
Remember that past performance is no guarantee of future results, and all trading involves risk.
Frequently Asked Questions
What are the FMP ASX Momentum Leaders?
The FMP ASX Momentum Leaders are the ten ASX-listed stocks with the strongest quarterly price momentum, ranked each week by Finer Market Points using a proprietary momentum score. The list identifies the market's current momentum leaders across all sectors and is updated on this page every week.
How often is the ASX Momentum Leaders list updated?
The public list on this page is updated weekly, each Saturday. Finer Market Points members receive the fuller Top 30 momentum list and Launch Pad data on Thursday at 2pm — more than 40 hours before the public list updates.
What are this week's top ASX momentum stocks?
For the week ending 12 September 2026, the top ASX momentum stocks are Iondrive (ION) at #1 with a +542.86% quarterly gain, Australian Vanadium (AVL) at #2 with a +66.67% quarterly gain, and DXN Limited (DXN) at #3 with a +189.29% quarterly gain. The rest of the list is Recharge Metals (REC), Tungsten Mining (TGN), Alara Resources (AUQ), Bapcor (BAP), First Au (FAU), BPM Minerals (BPM) and Sierra Nevada Gold (SNX). Five of the ten are appearing in the Top 10 for the first time or after a break, and five are on a consecutive weekly reading, in the 16 weekly readings recorded since 30 May 2026.
Which theme has led the ASX momentum list most often in 2026?
Gold exploration. It has appeared in 14 of the 16 weekly readings Finer Market Points recorded between 30 May and 12 September 2026, and in every reading since 13 June 2026, carried by 17 distinct companies. Copper is second on total appearances at 13 of 16. Green-economy exposure holds the best average position of any theme still running, at 3.4 across a three-reading run, against gold's 6.2. Health care held the largest reading count of any theme that has since left the list, at 10 of 16, last seen 5 September 2026.
Has scandium appeared on the FMP momentum list before?
Yes. Scandium has appeared in two of the 15 weekly readings recorded since 30 May 2026. Sunrise Energy Metals (SRL) held rank #7 for the week ending 18 June 2026, and two Fifield-district neighbours entered together for the week ending 15 August 2026 — Australian Mines (AUZ) at rank #4 and Rimfire Pacific Mining (RIM) at rank #9. Scandium has not reappeared in any reading since. A theme carried by two or more distinct companies in the same week is recorded here as a theme rather than a single stock.
What is the FMP Launch Pad and how does it work?
The FMP Launch Pad is a separate momentum-derived ranking — the daily top tier of a different momentum metric — that flags ASX companies for members before they reach the public Top 10. Each stock's sessions since Launch Pad entry and its return since entry show how long ago it was flagged and how its price has moved since.
How does Finer Market Points identify ASX momentum leaders?
Finer Market Points ranks ASX stocks using a proprietary momentum score built on price performance across multiple time windows, then publishes the Top 10 here each week. The framework also tracks how many trading sessions each stock has held momentum status and whether it first appeared on the FMP Launch Pad.
How can traders access the ASX momentum list before it is published?
Traders can access the full Top 30 momentum list and Launch Pad data by becoming a Finer Market Points YouTube member. Members receive Thursday's data at 2pm — more than 40 hours before this public list updates each Saturday — along with the Momentum Profile research behind the rankings.
Sources
# | Source | Type |
1 | FMP Momentum Research, weekly Top 10 momentum dataset, captured Friday 11 September 2026, settled session close | FMP Proprietary Data |
2 | FMP Launch Pad, weekly Launch Pad dataset, captured Friday 11 September 2026, settled session close | FMP Proprietary Data |
3 | ASX announcements and company research files, as cited in each company's FMP research file (`company_context/ASX/`) — including TGN "Tungsten Mining secures Watershed Project permits" 9 Sep 2026; BPM "BPM Minerals Gains Final Approval for Forelands Drilling at Bonnie & Clyde" 10 Sep 2026; REC "Recharge Metals Confirms Major Cu-W-Mo Potential at Brandy Hill South" 7 Sep 2026 | ASX Announcements |
3a | Secondary financial media reporting on 2026 company releases, used only where no price-sensitive ASX announcement was retrieved (AVL vanadium sector momentum; AUQ Al Wash-hi Majaza shipment cadence; SNX As Safra drilling programme) | Secondary Reporting |
4 | FMP Momentum Research, thematic leadership record — 16 weekly readings, 30 May to 12 September 2026 (`momentum_thematic_leadership.csv`, recomputed each Saturday from the weekly Top 10 appearance and thematic logs) | FMP Proprietary Data |
5 | Finer Market Points, "What is a VCP Pattern?" (educational reference) | FMP Educational Article |
6 | Finer Market Points, "Relative Strength as a Leading Indicator for ASX Momentum Traders" (educational reference) | FMP Educational Article |
Educational Disclaimer: This content is for educational purposes only and does not constitute financial advice. Past performance is no guarantee of future results. Consider your financial situation and seek professional advice before making investment decisions.
Finer Market Points Pty Ltd, CAR 1304002, AFSL 526688, ABN 87 645 284 680. This general information is educational only and not financial advice, recommendation, forecast or solicitation. Consider your objectives, financial situation and needs before acting. Seek appropriate professional advice. We accept no liability for any loss or damages arising from use. Authors and presenters may hold positions in discussed companies and investment products.
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