Why these 4 ASX shares have started the week with a BANG

Bellamy's Australia Ltd (ASX:BAL) is one of four shares which have started the week strongly. Here's why they are climbing higher today…

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It has been a good start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the index has climbed 0.5% to 5,750 points thanks to strong gains in the materials and utilities sectors.

Four shares which have stood out with noticeably strong gains today are as follows:

Bellamy's Australia Ltd (ASX: BAL) shares have bounced higher by 4% to $4.18 despite there being no news out of the organic infant formula company. I suspect today's jump could be either a case of bargain hunters swooping in or short sellers buying shares in order to close their short positions.

Kogan.com Ltd (ASX: KGN) shares have jumped over 7% to $1.60 after delivering a strong second quarter. An update released to the market this morning revealed that the online retailer has smashed its previous full year EBITDA guidance in less than two quarters. Whilst I have been very impressed with its performance, I'm not in a rush to buy its shares due to my concerns over the potential arrival of Amazon in Australia this year.

Nanosonics Ltd. (ASX: NAN) shares have surged higher by almost 6% to $3.11 after the release of a very positive quarterly update. Another record quarter of sales from the infection control company has led to half-year revenue increasing by a whopping 131% on the prior corresponding period. Although its shares are reasonably expensive, I believe its explosive growth warrants the premium.

Resolute Mining Limited (ASX: RSG) shares are up close to 3% to $1.35 thanks to a rise in the spot gold price. The majority of Australia's leading gold miners have edged higher today after gold climbed to US$1,201 an ounce. This is the highest level gold has traded at since late November. Unfortunately I don't expect these gains to last, so the gold miners could come under pressure in the near future.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Bellamy's Australia and Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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