ASX Top 10 Momentum Stocks — Saturday 25 July 2026

Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | July 2026

The ASX Top 10 momentum stocks for the week ending Saturday 25 July 2026 are led by Carnegie Clean Energy (CCE), which takes the #1 momentum rank on a +493.22% quarterly gain and a +55.56% week. Gold exploration is the leading theme this week, with three drill-stage gold explorers — Pacgold (PGO), King River Resources (KRR) and Benz Mining (BNZ) — holding three of the ten places. The list turned over heavily: seven of the ten names are new this week. It also carries two unusually non-speculative entrants — AMP (AMP), a large-cap financial services group lifted by an earnings upgrade, and OFX Group (OFX), re-rated by a A$1.00-per-share takeover bid.

This Week's Top 10 ASX Momentum Stocks

Rank	Company	ASX Code	Quarterly Gain	Weekly Gain	Days on List	Launch Pad Entry	Gain Since Launch Pad	Thematic
1	Carnegie Clean Energy	CCE	+493.22%	+55.56%	45+	45+ sessions	+311.76%	Clean energy / wave
2	Cauldron Energy	CXU	+198.08%	+24.00%	33	33 sessions	+154.10%	Uranium exploration
3	Janus Electric Holdings	JNS	+45.95%	−6.90%	45+	9 sessions	+63.64%	Clean transport / EV
4	Pacgold	PGO	+34.62%	+59.09%	1	39 sessions	+43.44%	Gold exploration
5	OFX Group	OFX	+49.90%	+45.74%	1	37 sessions	+35.69%	Payments / fintech (takeover)
6	Iondrive	ION	+62.50%	+44.44%	26	27 sessions	+69.57%	Battery recycling / critical minerals
7	King River Resources	KRR	+113.33%	+20.75%	26	28 sessions	+106.45%	Gold exploration
8	Prescient Therapeutics	PTX	+66.67%	+23.29%	45+	17 sessions	+45.16%	Healthcare / oncology
9	AMP	AMP	+47.92%	+5.45%	6	—	—	Financials / wealth
10	Benz Mining	BNZ	+45.28%	+31.06%	22	26 sessions	+54.00%	Gold exploration

Launch Pad cells use an em dash where a company has no current Launch Pad entry. 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. All figures are drawn from Finer Market Points' proprietary momentum research, dated 24 July 2026, for the week published Saturday 25 July 2026.

Leading Thematics This Week

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. Seven distinct themes are represented in this week's Top 10, and gold exploration is the single largest cluster.

Gold exploration is the leading theme, with three of the ten leaders. Pacgold holds the 100%-owned Alice River Gold Project in North Queensland and posted the week's strongest single move (+59.09%) after reverse-circulation drilling intersected gold along the Alice River Fault Zone and extended the Jerry Dodds lode roughly 1.4 km along strike. King River Resources is advancing its Mindoolah Gold Project in the Murchison region of Western Australia. Benz Mining is drilling the 100%-owned Glenburgh Gold Project in the Gascoyne, where the Icon camp returned a high-grade intercept of 27 metres at 15.33 g/t gold and the company has flagged more than 250,000 metres of drilling across three camps in 2026. Three drill-stage gold names clustering in the same week, all on a supportive gold-price backdrop, is a cluster of the kind that tends to accompany broad capital interest in a commodity. Gold-exploration momentum is generally sustained by drill results, resource definition and funded exploration programs. FMP's gold exploration hub will be linked here as it is published.

Financials appears through two names this week, each driven by a distinct corporate catalyst rather than sector fundamentals — an unusual pairing on a list normally dominated by pre-revenue explorers. AMP, a large-cap diversified financial-services group, entered after a 16 July 2026 trading update lifted its expected first-half 2026 underlying net profit after tax to roughly A$170–180 million, up more than 30% on the prior corresponding half, with China pension partnerships named as the single biggest driver; the stock reached a multi-year high following the update. OFX Group, a global money-transfer and payments business, was re-rated after Alakazam Holdings Bidco — owner of UK-listed payments business Equals — announced its intention to acquire OFX at A$1.00 cash per share, a bid the OFX board indicated it intends to recommend subject to financing, no superior proposal and an independent expert's conclusion. Both figures are company-disclosed and, in OFX's case, conditional; the momentum data records the resulting price moves and does not assess the transactions themselves. FMP's financials hub will be linked here as it is published.

Uranium exploration is represented by Cauldron Energy, the West Australian owner of the Yanrey Uranium Project, which sits at #2 this week on a +198.08% quarterly gain after its quarterly figure nearly doubled from the prior week. Uranium-exploration momentum is typically driven by resource growth, index and ETF inclusion flows, and the broader uranium-price thematic. FMP's uranium hub will be linked here as it is published.

Clean energy leads the list through Carnegie Clean Energy, which develops wave-energy technology and operates the Garden Island microgrid in Western Australia. Carnegie takes the #1 rank this week on a +493.22% quarterly gain across 45+ sessions on the list; the specific catalyst behind the continued acceleration is not identified in the company's recent announcements. Clean-energy momentum is commonly sustained by generation milestones, grid contracts and the broader energy-security narrative. FMP's clean energy hub will be linked here as it is published.

Clean transport is represented by Janus Electric Holdings, which converts diesel prime movers to electric drivetrains using swappable battery packs and a network of Charge and Change stations. Janus holds #3 despite a negative week (−6.90%), supported by 45+ sessions on the list and its recent North American order book; its quarterly figure of +45.95% reflects the rolling quarter window moving forward from a stronger prior reading. Clean-transport momentum is typically driven by fleet order announcements, policy incentives and delivery milestones. FMP's clean transport hub will be linked here as it is published.

Battery recycling and critical minerals enters through Iondrive, which is developing a low-carbon Deep Eutectic Solvent process to recover nickel, cobalt, lithium and manganese from spent lithium-ion batteries as its pilot plant is commissioned. Iondrive posted a +44.44% week at #6. Recycling and critical-minerals momentum is generally sustained by process de-risking milestones, commercialisation agreements and feedstock partnerships. FMP's battery recycling hub will be linked here as it is published.

Healthcare and medical devices is represented by Prescient Therapeutics, a clinical-stage oncology company whose lead asset PTX-100 is in a global Phase 2a trial in cutaneous T-cell lymphoma, alongside its OmniCAR modular CAR-T and CellPryme cell-manufacturing platforms. Prescient is one of the longest-serving names on the list at 45+ sessions. Healthcare momentum is typically driven by trial milestones, site activations and regulatory steps. FMP's healthcare hub will be linked here as it is published.

What This Week's List Reveals About ASX Momentum

This week's Top 10 turned over heavily. Only three names — Carnegie Clean Energy, Cauldron Energy and Janus Electric — carried over from the prior week, and seven of the ten are new. That describes a momentum cohort still rotating rather than one led by a stable group of persistent winners. It is a measurable feature of this week's data, not a forecast.

The list also spans an unusually wide range of company types and return profiles. The strongest quarterly performer, Carnegie Clean Energy, carries +493.22%; the weakest, Pacgold at #4, carries +34.62% and ranks only 33rd on the ASX for the quarter. Pacgold's place on the list rests on recent acceleration — the week's single strongest move — rather than a large quarterly figure, because the FMP momentum score weighs performance across more than one time window. The same mechanism explains AMP's presence at #9: its +5.45% week ranks only 103rd for the week, but a steadier quarterly climb and a fresh earnings catalyst carry it onto the list.

Two of this week's entrants are established, profitable companies rather than pre-revenue explorers — AMP, a large-cap financial services group on an earnings upgrade, and OFX Group, a payments business under a takeover bid. Their appearance alongside eight resource, energy, technology and healthcare names shows momentum leadership being set this week by a mix of corporate catalysts and commodity-driven exploration, not by a single sector.

Research by Jegadeesh and Titman, published in the Journal of Finance in 1993, found that momentum strategies generated 12.01% annual excess returns over a 24-year period — establishing momentum as one of the most robust anomalies in financial markets. That research measured broad portfolios of US stocks over long horizons. A single week's Top 10 on the ASX is a far narrower sample drawn from one market, and it carries none of that study's statistical guarantees.

Launch Pad Performance This Week

Nine of this week's ten momentum leaders carry an FMP Launch Pad entry — they were flagged on the proprietary Launch Pad, a separate momentum-derived ranking, before this week's public Top 10 was published. Returns since Launch Pad entry range from +35.69% (OFX Group) to +311.76% (Carnegie Clean Energy), the standout this week. Cauldron Energy is the second-best Launch Pad performer at +154.10%, with King River Resources third at +106.45%.

Across the nine leaders with Launch Pad data, the average return since entry is +98.20%; the median gain is +63.64%, a more representative result for the group. The average time since Launch Pad entry across these nine stocks is at least 29 trading sessions. AMP is the only name in this week's Top 10 without a current Launch Pad entry — it reached the list on a large-cap earnings catalyst rather than the early momentum signal the Launch Pad captures. Members who had access to Thursday's Launch Pad data were positioned an average of at least 29 trading sessions before the other nine names became publicly visible in the Top 10. These figures describe historical price gains for the named stocks since they were flagged on the Launch Pad and are not a guide to future returns.

What Members Received First

Members received Thursday's full Top 30 momentum list and Launch Pad data at 2pm — more than 40 hours before this public article. That gives members early access to the educational momentum data discussed in this article, including the Launch Pad names that may feed future momentum leadership. In a week where seven of ten leaders were new to the list, the Launch Pad data is where those changes appear first. The same membership includes the Momentum Profile, the full proprietary research behind the weekly rankings. Become a YouTube Member to receive the educational momentum data discussed in this article first each week. The complete weekly list is maintained on the Momentum Leaders research hub.

Remember that past performance is no guarantee of future results, and all trading involves risk.

Frequently Asked Questions

What are the top ASX momentum stocks this week?

The top ASX momentum stocks for the week ending 25 July 2026 are Carnegie Clean Energy (CCE) at the #1 momentum rank with a +493.22% quarterly gain, Cauldron Energy (CXU) at #2 with a +198.08% quarterly gain, and Janus Electric Holdings (JNS) at #3. The full Top 10 also includes Pacgold (PGO), OFX Group (OFX), Iondrive (ION), King River Resources (KRR), Prescient Therapeutics (PTX), AMP (AMP) and Benz Mining (BNZ).

Why did OFX Group shares jump this week?

OFX Group (OFX) rose +45.74% for the week after Alakazam Holdings Bidco — the owner of UK-listed payments business Equals — announced its intention to acquire all OFX shares under a scheme of arrangement at A$1.00 cash per share, described as a premium of about 108% to OFX's undisturbed February 2026 price. The OFX board indicated it intends to unanimously recommend the scheme, conditional on financing, no superior proposal emerging and an independent expert concluding the deal is in shareholders' best interests. These are company-disclosed, conditional terms; the momentum data records the resulting price move and does not assess the transaction.

Why is a large company like AMP in a momentum list of small explorers?

The FMP momentum score ranks stocks on price performance across multiple time windows, so any ASX company can qualify — including a large-cap. AMP (AMP) reached #9 this week after a 16 July 2026 trading update lifted its expected first-half 2026 underlying net profit after tax to roughly A$170–180 million, up more than 30% on the prior corresponding half, with China pension partnerships named as the biggest driver. Its +5.45% week ranks only 103rd for the week, but a steadier quarterly climb and the earnings catalyst carried it onto the list — a rare non-speculative name alongside eight explorers and technology companies.

Which themes are leading ASX momentum this week?

Gold exploration is the leading theme, holding three of the ten places: Pacgold (Alice River, North Queensland), King River Resources (Mindoolah, Western Australia) and Benz Mining (Glenburgh, Western Australia). The remaining seven names each represent a distinct theme — clean energy (Carnegie Clean Energy), uranium exploration (Cauldron Energy), clean transport (Janus Electric), payments and financials (OFX Group and AMP), battery recycling (Iondrive) and healthcare (Prescient Therapeutics).

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 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.

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. Each stock's sessions since Launch Pad entry and return since Launch Pad entry show how long ago it was flagged and how its price has moved since. This week, nine of the ten momentum leaders carry a Launch Pad entry.

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 the public Saturday article — along with the Momentum Profile research behind the rankings.

Sources

#	Source	Type
1	FMP Momentum Research, weekly Top 10 momentum dataset, 24 July 2026	FMP Proprietary Data
2	FMP Launch Pad, weekly Launch Pad dataset, 24 July 2026	FMP Proprietary Data
3	Company ASX announcements and investor updates, July 2026 (CCE momentum; OFX takeover scheme at A$1.00/share; AMP H1-26 trading update; PGO Alice River drilling; KRR Mindoolah; BNZ Glenburgh Icon results; PTX PTX-100 Phase 2a)	Company Disclosures
4	Jegadeesh, N., & Titman, S. (1993). Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency. Journal of Finance, 48(1), 65–91	Academic (Tier 1)
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

Related Finer Market Points Educational Resources

• Cauldron Energy (ASX: CXU)

• King River Resources (ASX: KRR)

• What is a VCP Pattern?

• Relative Strength as a Leading Indicator for ASX Momentum Traders

• ASX VCP Clusters and Sister Companies

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.