Resmed, Telstra and Sayona Mining among the ASX shares investors bought most in FY24

Among the 20 most traded shares on the Selfwealth platform, these stocks had the highest buy conviction.

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Resmed CDI (ASX: RMD) shares recorded the highest buying conviction among the 20 most traded ASX shares of FY24 on the online trading platform, Selfwealth.

Selfwealth Ltd (ASX: SWF) has just released a report detailing the 20 most traded ASX shares and international stocks among its customers in FY24.

As we've previously reported, ASX mining shares and financial shares attracted the most trading activity.

But Selfwealth analysts have dug deeper into the data.

They've not only reported the most traded ASX shares overall, but they've also calculated the percentage of buy orders for each stock.

This provides insight into which ASX shares attracted the highest buying conviction among investors.

A high buying conviction may indicate investors' confidence that the share price will rise in the future.

Let's check out the data.

20 most traded ASX shares of FY24

Here are the 20 most traded shares among investors using the Selfwealth trading platform in FY24.

As you can see, each stock has a percentage of buy orders next to it.

RankMost traded shares by trading volume Percentage of buy orders
1Pilbara Minerals Ltd (ASX: PLS)58.1%
2BHP Group Ltd (ASX: BHP)60.5%
3Fortescue Ltd (ASX: FMG)52.2%
4Woodside Energy Group Ltd (ASX: WDS) 61.8%
5ANZ Group Holdings Ltd (ASX: ANZ)50.5%
6Macquarie Group Ltd (ASX: MQG)52.3%
7Westpac Banking Corp (ASX: WBC)46%
8CSL Ltd (ASX: CSL) 59.9%
9Qantas Airways Limited (ASX: QAN)54.4%
10Telsa Inc (NASDAQ: TSLA)70.9%
11Commonwealth Bank of Australia (ASX: CBA)46.4%
12Whitehaven Coal Ltd (ASX: WHC)56.1%
13Zip Co Ltd (ASX: ZIP)50%
14Core Lithium Ltd (ASX: CXO)56.6%
15Resmed CDI (ASX: RMD) 69%
16NVIDIA Corp (NASDAQ: NVDA) 70.9%
17Telstra Group Ltd (ASX: TLS) 64.8%
18Liontown Resources Ltd (ASX: LTR) 60.1%
19Rio Tinto Ltd (ASX: RIO)54.6%
20Sayona Mining Ltd (ASX: SYA) 63.4%
Source: Selfwealth

5 ASX stocks with the highest buying conviction

As the chart above shows, Resmed shares recorded the highest buying conviction among the most traded ASX shares in FY24.

Of all the Resmed shares orders placed by Selfwealth customers in FY24, 69% were buy orders.

The Resmed share price fell by 11.31% over FY24.

The ASX shares with the next highest buying convictions were Telstra shares at 64.8% and Sayona Mining shares at 63.4%.

The Telstra share price descended by 15.81% in FY24, while the Sayona Mining share price fell 77.78%.

The final two ASX shares in the top five with the greatest buying conviction were Woodside shares, at 61.8%, and BHP shares, at 60.5%.

In FY24, the Woodside share price fell 18.09%, and the BHP share price fell 5.13%.

Two international shares had the highest buying convictions overall. Both Nvidia and Tesla shares recorded 70.9% buy orders among Selfwealth investors.

Nvidia shares rose 192.1% in FY24, while Tesla shares fell 24.41%.

Motley Fool contributor Bronwyn Allen has positions in Anz Group, BHP Group, CSL, Commonwealth Bank Of Australia, Core Lithium, Macquarie Group, Woodside Energy Group, and Zip Co. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Macquarie Group, Nvidia, ResMed, Tesla, and Zip Co. The Motley Fool Australia has positions in and has recommended Macquarie Group, ResMed, and Telstra Group. The Motley Fool Australia has recommended CSL and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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