ASX Top 10 Momentum Stocks — Saturday 8 August 2026

Christopher Hall

Aug 7

14 min read

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

The ASX Top 10 momentum stocks for the week ending Saturday 8 August 2026 are led on momentum score by Iondrive (ION), holding the #1 rank for a second consecutive week on a +130.43% quarterly gain, while Mastermyne Group (MYE) carries the largest quarterly gain on the list at +159.52%. Clinical-stage biotechnology is the leading theme with three of the ten places — the first time healthcare has held three places on this list — alongside copper-gold and gold exploration with three. Turnover is the highest recorded in this series: six of the ten names are new to the Top 10 and only three carried over from last week.

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	+130.43%	+29.27%	35	38 sessions	+152.38%	Battery recycling / critical minerals
2	Carnaby Resources	CNB	+84.21%	+19.86%	45+	8 sessions	+15.89%	Copper-gold exploration (takeover)
3	Benz Mining	BNZ	+91.35%	+22.46%	31	35 sessions	+99.00%	Gold exploration
4	Mastermyne Group	MYE	+159.52%	+36.25%	35	—	—	Underground mining services (coal)
5	Wisr	WZR	+42.86%	0.00%	7	23 sessions	+50.00%	Non-bank consumer lending
6	Nyrada	NYR	+35.14%	+35.14%	16	16 sessions	+30.43%	Clinical-stage biotechnology
7	PYC Therapeutics	PYC	+79.66%	+26.19%	32	35 sessions	+46.21%	Clinical-stage biotechnology
8	Neuren Pharmaceuticals	NEU	+68.39%	+25.72%	28	28 sessions	+32.38%	Clinical-stage biotechnology
9	Hammer Metals	HMX	+122.86%	+13.04%	45+	44 sessions	+52.94%	Copper-gold exploration
10	Alliance Aviation Services	AQZ	+30.33%	+34.83%	—	30 sessions	+30.33%	Contract aviation services

Data note — read this before the figures. This week's dataset was captured on Thursday 6 August 2026 before the market closed. The prices behind every percentage in the table are therefore intraday, not closing prices, and they will differ from Thursday's close and from Friday's close. The ranking, the thematic composition and the day counters are unaffected by that timing; the individual percentages should be read as accurate to the moment of capture rather than to any settled session. 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 Thursday 6 August 2026, for the week published Saturday 8 August 2026.

Leading Thematics This Week

Momentum leadership of this kind often appears first as relative strength as an early momentum signal and tight volatility contraction on the chart, well before a theme is widely discussed. Four distinct themes are represented in this week's Top 10, and for the first time in this series, three of them hold three places each.

Clinical-stage biotechnology is the leading theme by novelty and equal-leading by count, with three of the ten leaders — the first time healthcare has held three places on the FMP Top 10. PYC Therapeutics sits at #7 on a +79.66% quarterly gain; it is a clinical-stage biotechnology company developing RNA-targeted therapeutics for genetic diseases, and its July 2026 disclosures include the initiation of a multiple-dose clinical trial in polycystic kidney disease on 20 July, a program update in autosomal dominant optic atrophy on 21 July, and approval of dose escalation by the PKD trial safety committee on 28 July. Neuren Pharmaceuticals holds #8 on a +68.39% quarterly gain; its product DAYBUE (trofinetide) is approved for Rett syndrome, trofinetide holds orphan drug designation from both the FDA and the EMA in Fragile X syndrome, and a powder formulation known as DAYBUE STIX approved in late 2025 is scheduled for commercial launch during 2026, with the company's full-year results due 25 August 2026. Nyrada enters at #6, a drug-development company whose lead candidate Xolatryp has completed a first-in-human Phase I trial and is moving into a Phase 2a study in patients undergoing primary angioplasty for ST-elevation myocardial infarction, with a separate neuroprotection program in traumatic brain injury. No single announcement in the sources reviewed accounts for Nyrada's +35.14% week, and none is asserted here as its cause. Biotechnology momentum is typically sustained by trial milestones, regulatory decisions and partnering or licensing events rather than by commodity prices or trading conditions. The most recent healthcare name to reach this list was INOVIQ (ASX: IIQ) in June 2026; FMP's healthcare hub will be linked here as it is published.

Copper-gold and gold exploration holds three of the ten places, continuing the resources presence that has led this list for most of the past quarter. Carnaby Resources sits at #2, carrying the re-rating that followed its binding scheme implementation deed with Evolution Mining signed 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; completion is targeted for around mid-November 2026 and remains subject to shareholder, ACCC and Federal Court approvals. Benz Mining holds #3 in its third 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 and more than 250,000 metres of drilling is planned across three camps during 2026. Hammer Metals returns at #9 on a +122.86% quarterly gain, targeting Ernest Henry-style iron oxide copper-gold systems in the Mount Isa district of Queensland and the Yandal Belt in Western Australia, with 2026 work reported across Bullrush copper, Isa Valley zinc and drill-ready targets at Kalman West. Three explorers on the same geological theme appearing together is a VCP cluster signal framework observation — clusters of this kind tend to accompany broad capital interest in a commodity. Exploration momentum is generally sustained by drill results, resource definition and funded programs. FMP's gold exploration hub will be linked here as it is published.

Earnings-inflection operators hold the remaining three places, and this is the distinguishing feature of the week's data: three established, revenue-generating businesses re-rating on guidance and results rather than on drill holes or trial data. Mastermyne Group sits at #4 with the largest quarterly gain on the list at +159.52%; it is an underground mining services contractor to the coal sector, operating in Queensland's Bowen Basin and New South Wales' Illawarra region through the Mastermyne, Wilson Mining and MyneSight brands, and in a May 2026 update the company said FY26 revenue was tracking toward the upper end of a A$220–230 million range with underlying EBITDA toward the upper end of A$17–18 million. Traders following the coal complex will find the broader sector context in the FMP coal thematic hub. Wisr holds #5 after reporting its first cash profit — a company-defined cash NPAT measure of A$1.0 million for FY26, not a statutory profit figure — with FY27 guidance of at least A$5.0 million, loan originations up 65% to A$695 million and a loan book of A$1.084 billion. Alliance Aviation Services enters at #10 after resetting its wet lease agreement with Qantas, securing a price uplift from 1 July 2026 and an improved annual escalation mechanism while the number of aircraft operated for that customer reduces from 30 to 23 during FY27, freeing seven aircraft for redeployment; management reaffirmed FY26 underlying profit before tax at the midpoint of its A$35–40 million guidance range, with full-year results due 25 August 2026. This kind of momentum is sustained by the reporting calendar — guidance updates, contract resets and result releases. FMP's industrials hub will be linked here as it is published.

What This Week's List Reveals About ASX Momentum

Three sector clusters hold nine of the ten places. That is a measurable feature of this week's data rather than a forecast. Research by Moskowitz and Grinblatt, published in the Journal of Finance in 1999, found that 60–73% of momentum profits derive from sector and industry effects rather than individual stock selection. That study measured US equities from 1963 to 1995 using a 48-industry classification, over long horizons and broad portfolios. A single week's Top 10 on the ASX is a far narrower sample drawn from one market and carries none of that study's statistical guarantees; the clustering in this week's data is consistent with the pattern the paper describes, not evidence of it.

Turnover was the heaviest recorded in this series. Only three names carried over from the prior week — Iondrive, Carnaby Resources and Benz Mining — and Hammer Metals returned after three weeks away, last appearing in the Top 10 on 18 July 2026. Six names are new to the Top 10 entirely: Mastermyne Group, Wisr, Nyrada, PYC Therapeutics, Neuren Pharmaceuticals and Alliance Aviation Services. Seven names dropped out, including Cauldron Energy, Synertec Corporation, Resource Minerals International, OFX Group, The Star Entertainment Group, Kip McGrath Education Centres and Pacgold. Christopher Hall's reading is that a turnover rate of this size usually reflects a change in what the market is paying for rather than a change in the momentum framework itself — an observation about conditions, not a prediction about any of the names arriving or leaving.

Two names carry the signature of the episodic pivot setup — 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. Nyrada posted identical weekly and quarterly figures of +35.14%, which means effectively the entire quarterly gain was made in the single week captured here. Alliance Aviation goes one step further: its weekly gain of +34.83% exceeds its quarterly gain of +30.33%, which means the stock is lower across the balance of the quarter than it was at the start, and the whole of the quarterly figure — and more — was made in the last week. 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 either stock does next.

The list is unusually strong at the top and unusually flat at the bottom. Four names carry quarterly gains above 90% — Mastermyne at +159.52%, Iondrive at +130.43%, Hammer Metals at +122.86% and Benz Mining at +91.35% — while Alliance Aviation at #10 carries +30.33% and Nyrada at #6 carries +35.14%. The FMP momentum score weighs performance across more than one time window, which is why a stock ranked 46th for the quarter can share a list with one ranked 4th. Nine of the ten leaders posted a positive week; Wisr recorded a flat 0.00%, holding #5 entirely on the quarterly and multi-window components of its score, and ranked 438th for the week.

Mastermyne is the clearest illustration of what the two Launch Pad columns do and do not tell a reader. It carries the highest quarterly gain on the list at +159.52% and 35 sessions of momentum-list tenure, yet has no Launch Pad entry at all — the only name in this week's ten without one. A stock can lead the momentum list without ever having been flagged on the separate Launch Pad ranking, because the two measures read different sources over different observation windows.

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 +15.89% (Carnaby Resources, on a recent entry 8 sessions ago) to +152.38% (Iondrive), the standout this week. Benz Mining is the second-best Launch Pad performer at +99.00%, with Hammer Metals third at +52.94%.

Across the nine leaders with Launch Pad data, the average return since entering the Launch Pad is +56.62%; the median gain is +46.21%, a more representative result for the group given the spread. The average time since entering the Launch Pad across these nine stocks is 29 trading sessions. Mastermyne Group is the only name in this week's Top 10 without a current Launch Pad entry, and it carries the highest quarterly gain on the list. Members who had access to Thursday's Launch Pad data were positioned an average of 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 six names were new to the Top 10 and seven dropped out, 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 ASX Momentum Leaders 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 8 August 2026 are Iondrive (ION) at the #1 momentum rank with a +130.43% quarterly gain, Carnaby Resources (CNB) at #2 with a +84.21% quarterly gain, and Benz Mining (BNZ) at #3 with a +91.35% quarterly gain. The full Top 10 also includes Mastermyne Group (MYE), which carries the largest quarterly gain on the list at +159.52%, along with Wisr (WZR), Nyrada (NYR), PYC Therapeutics (PYC), Neuren Pharmaceuticals (NEU), Hammer Metals (HMX) and Alliance Aviation Services (AQZ).

Why are three biotechnology companies in this week's ASX momentum Top 10?

Three clinical-stage biotechnology companies hold places in this week's Top 10 — PYC Therapeutics (PYC) at #7, Neuren Pharmaceuticals (NEU) at #8 and Nyrada (NYR) at #6 — which is the first time healthcare has held three places on the FMP list. A momentum ranking measures price performance, so a stock that re-rates on clinical trial progress registers the same way as one that re-rates on drill results or earnings guidance. PYC reported a sequence of July 2026 clinical milestones across its polycystic kidney disease and optic atrophy programs, Neuren's DAYBUE (trofinetide) franchise is scheduled for a new formulation launch during 2026 with full-year results due 25 August 2026, and Nyrada's lead candidate has completed a first-in-human Phase I trial. No single announcement in the sources reviewed accounts for Nyrada's weekly move.

Why is this week's momentum data dated Thursday rather than Friday?

This week's dataset was captured on Thursday 6 August 2026 before the market closed, one session earlier in the week than the usual Friday capture. Every percentage in the table is therefore calculated from intraday prices rather than closing prices, and those figures will differ from Thursday's close and from Friday's close. The ranking order, the thematic composition and the trading-session counters are not affected by the earlier capture; the individual percentages are accurate to the moment of capture rather than to a settled session.

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. Nyrada (NYR) posted identical weekly and quarterly figures of +35.14%, meaning effectively the whole quarterly gain was made in the week captured. Alliance Aviation Services (AQZ) posted a weekly gain of +34.83% against a quarterly gain of +30.33% — the weekly figure exceeds the quarterly one, which means the stock is lower across the rest of the quarter and the entire quarterly gain was made in the final week. In a list ranked on quarterly momentum, this kind of divergence is an expected feature of catalyst-driven names rather than an inconsistency in the data.

Which themes are leading ASX momentum this week?

Clinical-stage biotechnology and copper-gold and gold exploration each hold three of the ten places, and a third cluster of earnings-inflection operators holds the remaining three that are not accounted for by battery recycling. The biotechnology names are PYC Therapeutics, Neuren Pharmaceuticals and Nyrada. The copper-gold and gold explorers are Carnaby Resources (Greater Duchess, north-west Queensland), Benz Mining (Glenburgh, Gascoyne) and Hammer Metals (Mount Isa district and Yandal Belt). The earnings-inflection group is Mastermyne Group, Wisr and Alliance Aviation Services — established businesses re-rating on guidance and results. Iondrive holds the tenth place under battery recycling and critical minerals.

How can a stock lead the momentum list with no Launch Pad entry?

Mastermyne Group (MYE) carries the highest quarterly gain in this week's Top 10 at +159.52% and 35 sessions of momentum-list tenure, yet shows no Launch Pad entry. The momentum list and the FMP Launch Pad are two separate rankings that read different sources over different observation windows, so a stock can reach the momentum Top 10 without ever having been flagged on the Launch Pad. The reverse is also true: a Launch Pad entry does not guarantee a place on the momentum list. Both day 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 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 +56.62% over an average of 29 trading sessions.

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.

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, captured Thursday 6 August 2026 pre-close	FMP Proprietary Data
2	FMP Launch Pad, weekly Launch Pad dataset, captured Thursday 6 August 2026 pre-close	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	Mastermyne Group, FY26 trading update, May 2026 (revenue tracking toward the upper end of A$220–230m; underlying EBITDA toward the upper end of A$17–18m)	Company Disclosure
5	Alliance Aviation Services, operational update on the revised Qantas wet lease (price uplift from 1 July 2026; fleet operated for Qantas reducing from 30 to 23 during FY27; FY26 underlying profit before tax reaffirmed at the midpoint of A$35–40m; FY26 results due 25 August 2026)	Company Disclosure
6	Wisr, FY26 results and Q4 FY26 update (cash NPAT A$1.0m — a company-defined non-statutory measure; FY27 guidance of at least A$5.0m; originations +65% to A$695m; loan book A$1.084bn; A$354m ABS transaction)	Company Disclosure
7	PYC Therapeutics ASX announcements, July 2026 (PKD initiation of multiple-dose clinical trial, 20 July; ADOA program update, 21 July; PKD safety committee approves dose escalation, 28 July)	Company Disclosures
8	Neuren Pharmaceuticals, DAYBUE (trofinetide) program disclosures (Rett syndrome approval; FDA and EMA orphan drug designation in Fragile X syndrome; DAYBUE STIX powder formulation approved late 2025 for 2026 launch; full-year results due 25 August 2026)	Company Disclosures
9	Nyrada Inc, Xolatryp program disclosures (first-in-human Phase I completed; Phase 2a in STEMI patients undergoing primary angioplasty; traumatic brain injury neuroprotection program with WRAIR and UNSW Sydney)	Company Disclosures
10	Company ASX announcements and investor updates, 2026 (ION DES pilot-plant commissioning; BNZ Glenburgh Icon drill results and 2026 program; HMX Mount Isa and Yandal Belt exploration)	Company Disclosures
11	Moskowitz, T. J., & Grinblatt, M. (1999). Do Industries Explain Momentum? Journal of Finance, 54(4), 1249–1290	Academic (Tier 1)
12	Finer Market Points, "What is Episodic Pivot Trading?" (educational reference — Bonde and Kullamägi methodologies)	FMP Educational Article
13	Finer Market Points, "What is a VCP Pattern?" (educational reference)	FMP Educational Article
14	Finer Market Points, "Relative Strength as a Leading Indicator for ASX Momentum Traders" (educational reference)	FMP Educational Article

Christopher Hall's reading of the week's turnover rate 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 Mastermyne Group, Wisr, Nyrada, PYC Therapeutics, Neuren Pharmaceuticals, Alliance Aviation Services and Hammer Metals were sourced from secondary financial media reporting on those companies' 2026 releases and have not yet been confirmed against the primary announcements; they are reported here as company-stated figures. All percentage figures in this article derive from a dataset captured intraday on Thursday 6 August 2026 and are not closing-price figures.

Related Finer Market Points Educational Resources

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.