ASX Top 10 Momentum Stocks — Saturday 1 August 2026

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

The ASX Top 10 momentum stocks for the week ending Saturday 1 August 2026 are led by Iondrive (ION), which takes the #1 momentum rank with a +80.77% quarterly gain. Gold and copper-gold exploration is the leading theme with four of the ten places, and three of the ten — OFX Group, Kip McGrath Education Centres and Carnaby Resources — are companies in live, disclosed takeover situations. Resource Minerals International (RMI) again carries the largest quarterly gain on the list at +311.63%. Five names carried over from last week, four are new to the Top 10 and one returned after a week away.

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	Iondrive	ION	+80.77%	+17.50%	31	34 sessions	+123.81%	Battery recycling / critical minerals
2	Cauldron Energy	CXU	+110.14%	−3.33%	38	38 sessions	+137.70%	Uranium exploration
3	Benz Mining	BNZ	+57.28%	+2.76%	27	31 sessions	+67.50%	Gold exploration
4	OFX Group	OFX	+62.24%	+3.25%	6	42 sessions	+37.07%	Payments / fintech (takeover)
5	Synertec Corporation	SOP	+130.43%	+23.26%	22	39 sessions	+103.85%	Energy technology
6	Resource Minerals International	RMI	+311.63%	−1.67%	45+	—	—	Copper-gold exploration
7	The Star Entertainment Group	SGR	+26.09%	+20.83%	9	35 sessions	+31.82%	Gaming / integrated resorts
8	Kip McGrath Education Centres	KME	+19.66%	+45.83%	1	23 sessions	+34.62%	Education services (takeover)
9	Carnaby Resources	CNB	+55.21%	+55.21%	45+	4 sessions	−1.32%	Copper-gold exploration (takeover)
10	Pacgold	PGO	+40.87%	−4.71%	6	44 sessions	+32.79%	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. Sessions on the momentum list and sessions since Launch Pad entry are two separate counters drawn from two separate rankings; they are not expected to agree. All figures are drawn from Finer Market Points' proprietary momentum research, dated Friday 31 July 2026, for the week published Saturday 1 August 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. Four distinct themes are represented in this week's Top 10, and gold and copper-gold exploration is the largest cluster. Two companies appear under more than one heading, because a takeover is a driver rather than an industry.

Gold and copper-gold exploration is the leading theme, with four of the ten leaders. Benz Mining holds #3 in its second consecutive week, drilling the 100%-owned Glenburgh Gold Project in the Gascoyne region of Western Australia, where the Icon camp returned a high-grade intercept of 27 metres at 15.33 g/t gold. Resource Minerals International carries copper-gold exposure through its Mpanda project in Tanzania and its Wadi Salamah copper-gold-silver ground in Saudi Arabia, and holds the largest quarterly gain on this week's list at +311.63%. Carnaby Resources enters at #9 with its Greater Duchess copper-gold project in north-west Queensland. Pacgold sits at #10, drilling the Alice River Gold Project in North Queensland, where reverse-circulation work extended the Jerry Dodds lode along strike. Four gold-bearing explorers clustering in the same week, on a supportive gold-price backdrop, is a cluster of the kind that tends to accompany broad capital interest in a commodity. Gold and copper-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.

Corporate transactions hold three of the ten places, and this is the distinguishing feature of the week's data. OFX Group holds #4, still carrying the re-rating that followed Alakazam Holdings Bidco's announced intention to acquire OFX at A$1.00 cash per share under an agreed transaction process. Kip McGrath Education Centres enters at #8 after Crimson Consulting Australia lodged a bidder's statement for an off-market takeover at A$0.73 cash per share, reported as a 62.2% premium to Kip McGrath's A$0.45 close on 29 July 2026, with pre-bid support over 19.25% of issued shares and a 90% minimum acceptance condition; the Kip McGrath board has advised shareholders to take no action pending its review. Carnaby Resources enters at #9 after signing a binding scheme implementation deed with Evolution Mining on 27 July 2026, under which Carnaby shareholders would receive 0.0682 Evolution shares for each Carnaby share, implying A$0.77 per share and a transaction value of approximately A$213 million. All three sets of terms are disclosed by the companies or bidders concerned and remain conditional; the momentum data records the resulting price moves and does not assess the transactions themselves. Corporate-action momentum is sustained by the transaction timetable — bidder's statements, independent expert reports, regulatory clearances and shareholder votes — rather than by trading conditions. FMP's corporate-actions hub will be linked here as it is published.

Energy transition and critical minerals holds three of the ten places, spread across very different business models. Iondrive takes the #1 rank as it commissions a pilot plant for its Deep Eutectic Solvent process, a low-carbon route to recovering nickel, cobalt, lithium and manganese from spent lithium-ion batteries. Cauldron Energy, the West Australian owner of the Yanrey Uranium Project, holds #2 on a +110.14% quarterly gain and is again the only uranium name on the list. Synertec Corporation enters at #5 after contracting two further Powerhouse units to Santos for its GLNG coal seam gas operations in Queensland, taking the total contracted with that customer to six units covering an estimated 20 to 25 wells; the units are contracted on a build, own, operate and maintain basis, which the company states produces approximately 90% EBITDA margins at the unit level. This theme is commonly sustained by contract awards, commissioning milestones and customer expansion. FMP's energy transition hub will be linked here as it is published.

Consumer discretionary services holds two places, an unusual showing for a list normally dominated by resources and technology. The Star Entertainment Group enters at #7, operating The Star Sydney and The Star Gold Coast through a multi-year recapitalisation and regulatory-remediation program; its July disclosures include a settlement of disputes with the Australian Taxation Office announced on 7 July 2026, a quarterly activities report for the period ended 30 June 2026 announced on 24 July 2026, and completion of its exit from the Queen's Wharf Brisbane ownership consortium. No single announcement in the sources reviewed accounts for the week's +20.83% move, and none is asserted here as its cause. Kip McGrath Education Centres, the second name under this heading, is covered under corporate transactions above. FMP's consumer discretionary hub will be linked here as it is published.

What This Week's List Reveals About ASX Momentum

Three of the ten momentum leaders are companies in live takeover situations. That is a measurable feature of this week's data rather than a forecast, and it changes what the list is describing: a quarterly momentum ranking is a price-performance measure, so a stock that re-rates on bid terms registers exactly as a stock that re-rates on drill results does. Christopher Hall's reading is that a corporate-action cluster of this size tends to appear when acquirers are willing to pay premiums into a market that has already repriced the underlying assets — an observation about conditions, not a prediction about any of the three transactions completing.

Turnover held steady. Five of this week's ten names — Cauldron Energy, Benz Mining, OFX Group, Iondrive and Pacgold — carried over from the prior week, and Resource Minerals International returned after a week away. Four names are new to the Top 10: Synertec Corporation, The Star Entertainment Group, Kip McGrath Education Centres and Carnaby Resources.

Carnaby Resources is the clearest example of a pattern that recurs on this list. Its weekly and quarterly figures are identical at +55.21%, which means effectively the entire quarterly gain was made in the single week following the scheme announcement. Christopher Hall's reading is that this is the signature of an episodic pivot — the catalyst-driven gap documented by Pradeep Bonde and Kristjan Kullamägi, in which a news event reprices a stock abruptly and its recent week bears little resemblance to the quarter behind it. Kip McGrath fits the same description from the other direction: it gained +45.83% for the week, the second-strongest weekly move in this week's Top 30, while ranking only 67th for the quarter and holding just one session of momentum-list tenure. On this reading the divergence is an expected feature of a quarterly-ranked list that contains news-driven names, not a contradiction in the data. That is an interpretation of the pattern, not a prediction about what any of these stocks does next.

Carnaby also illustrates why the two day counters on this list are read separately. Carnaby shows at least 45 sessions of momentum-list tenure alongside only 4 sessions since Launch Pad entry, and a −1.32% return since that entry. The two counters are drawn from two different rankings with their own observation windows, so a long momentum tenure and a recent Launch Pad entry describe different things and are not in conflict.

The spread of quarterly returns remains wide. Resource Minerals International carries +311.63% and Synertec +130.43%, while Kip McGrath at #8 carries +19.66%. The FMP momentum score weighs performance across more than one time window, which is why a stock ranked 67th for the quarter can share a list with one ranked 2nd. The same mechanism works in reverse: Cauldron Energy holds #2 on a negative week, and Resource Minerals holds #6 on a negative one. Seven of the ten leaders posted a positive week; three did not.

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 Launch Pad, a separate momentum-derived ranking, before this week's public Top 10 was published. Returns since entering the Launch Pad range from −1.32% (Carnaby Resources, on a fresh entry 4 sessions ago) to +137.70% (Cauldron Energy), the standout this week. Iondrive is the second-best Launch Pad performer at +123.81%, with Synertec Corporation third at +103.85%.

Across the nine leaders with Launch Pad data, the average return since entering the Launch Pad is +63.09%; the median gain is +37.07%, a more representative result for the group given the spread. The average time since entering the Launch Pad across these nine stocks is 32 trading sessions. Resource Minerals International is the only name in this week's Top 10 without a current Launch Pad entry, and has now gone six consecutive weekly readings without one while remaining on the momentum list. Members who had access to Thursday's Launch Pad data were positioned an average of 32 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 four names were new to the Top 10 and one returned after a week away, 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 1 August 2026 are Iondrive (ION) at the #1 momentum rank with a +80.77% quarterly gain, Cauldron Energy (CXU) at #2 with a +110.14% quarterly gain, and Benz Mining (BNZ) at #3 with a +57.28% quarterly gain. The full Top 10 also includes OFX Group (OFX), Synertec Corporation (SOP), Resource Minerals International (RMI), The Star Entertainment Group (SGR), Kip McGrath Education Centres (KME), Carnaby Resources (CNB) and Pacgold (PGO).

Why are three takeover targets in this week's ASX momentum Top 10?

Three of this week's ten momentum leaders are companies in live, disclosed takeover situations: OFX Group (OFX), subject to an announced intention to acquire at A$1.00 cash per share; Kip McGrath Education Centres (KME), subject to an off-market bid from Crimson Consulting Australia at A$0.73 cash per share; and Carnaby Resources (CNB), subject to a binding scheme implementation deed with Evolution Mining implying A$0.77 per share. A momentum ranking measures price performance, so a stock that re-rates on takeover terms registers the same way as a stock that re-rates on operating results. All three sets of terms are disclosed by the companies or bidders concerned and remain conditional.

How can Carnaby Resources show 45+ sessions on the momentum list but only 4 sessions since Launch Pad entry?

The two figures are separate counters drawn from two separate rankings. Sessions on the momentum list measures how long a stock has held a place on the FMP Top 30 momentum ranking. Sessions since Launch Pad entry measures how long ago the stock entered the FMP Launch Pad, a different momentum-derived ranking with its own observation window. A stock can therefore show a long momentum tenure alongside a recent Launch Pad entry with no contradiction. Both counters are trading sessions rather than calendar days, and both are capped at 45 in the source data, so a figure shown as "45+" means at least 45 sessions.

What is an episodic pivot, and which names in this week's list fit it?

An episodic pivot is a catalyst-driven move in which a stock gaps sharply on news, documented in the momentum-trading methodologies of Pradeep Bonde and Kristjan Kullamägi. The signature is a large recent move that bears little resemblance to the preceding period. Two names in this week's Top 10 fit that description closely: Carnaby Resources (CNB) posted identical weekly and quarterly figures of +55.21%, meaning effectively the whole quarterly gain was made in one week after its scheme announcement, and Kip McGrath Education Centres (KME) gained +45.83% for the week while ranking 67th for the quarter on one session of list tenure. In a list ranked on quarterly momentum, this kind of divergence between the weekly and quarterly figures is an expected feature of catalyst-driven names rather than an inconsistency in the data.

Which themes are leading ASX momentum this week?

Gold and copper-gold exploration is the leading theme, holding four of the ten places: Benz Mining (Glenburgh, Gascoyne), Resource Minerals International (Mpanda copper-gold, Tanzania), Carnaby Resources (Greater Duchess, north-west Queensland) and Pacgold (Alice River, North Queensland). Corporate transactions account for three places through OFX Group, Kip McGrath Education Centres and Carnaby Resources. Energy transition and critical minerals hold three more through Iondrive, Cauldron Energy and Synertec Corporation, and consumer discretionary services holds two through The Star Entertainment Group and Kip McGrath. Carnaby and Kip McGrath each appear under two headings, because a takeover is a driver rather than an industry.

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 entering the Launch Pad and return since entering the Launch Pad 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, with an average return since entry of +63.09% over an average of 32 trading sessions.

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, 31 July 2026	FMP Proprietary Data
2	FMP Launch Pad, weekly Launch Pad dataset, 31 July 2026	FMP Proprietary Data
3	Evolution Mining / Carnaby Resources, binding Scheme Implementation Deed announcement, 27 July 2026 (0.0682 Evolution shares per Carnaby share; ~A$213m; completion targeted mid-November 2026, subject to shareholder, ACCC and Federal Court approvals)	Company Disclosure
4	Crimson Consulting Australia Pty Ltd, bidder's statement for off-market takeover of Kip McGrath Education Centres at A$0.73 cash per share (62.2% premium to the A$0.45 close on 29 July 2026; 19.25% pre-bid support; 90% minimum acceptance condition), July 2026	Bidder Disclosure
5	OFX Group, transaction process announcement with Alakazam Holdings Bidco at A$1.00 cash per share, 23 July 2026	Company Disclosure
6	The Star Entertainment Group ASX announcements, July 2026 (ATO dispute settlement, 7 July 2026; Quarterly Activities Report for the period ended 30 June 2026, 24 July 2026; Queen's Wharf Brisbane consortium exit)	Company Disclosures
7	Company ASX announcements and investor updates, 2026 (BNZ Glenburgh Icon results; ION DES pilot plant; SOP Santos Powerhouse units #5–#6; PGO Alice River RC drilling; RMI Mpanda and Wadi Salamah programs)	Company Disclosures
8	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)
9	Finer Market Points, "What is Episodic Pivot Trading?" (educational reference — Bonde and Kullamägi methodologies)	FMP Educational Article
10	Finer Market Points, "What is a VCP Pattern?" (educational reference)	FMP Educational Article
11	Finer Market Points, "Relative Strength as a Leading Indicator for ASX Momentum Traders" (educational reference)	FMP Educational Article

Christopher Hall's readings of the corporate-action cluster and the episodic-pivot pattern are anecdotal observations developed across his trading and market-analysis career, not the output of a study. Company catalyst details for Carnaby Resources, Kip McGrath, Synertec, Pacgold and The Star Entertainment Group were sourced from secondary financial media reporting on those companies' 2026 ASX releases and bidder documents and have not yet been confirmed against the primary announcements; they are reported here as company-stated or bidder-stated figures.

Related Finer Market Points Educational Resources

• Cauldron Energy (ASX: CXU)

• Resource Minerals International (ASX: RMI)

• OFX Group (ASX: OFX) — Equals takeover bid

• What is Episodic Pivot Trading?

• 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.