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