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These 3 ASX shares just raced to 52-week highs: Can they keep going?

Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has put in a bit of a mixed performance of late, this hasn’t stopped a good number of shares from racing to 52-week highs.

Here are three which caught my eye today. Can they continue climbing higher?

The Big Un Ltd (ASX: BIG) share price surged to a 52-week high of 56 cents yesterday after the video technology products and services company released a positive third quarter update. Cash receipts grew 372% on the prior corresponding period to $5.6 million. This was thanks largely to an 82% jump in subscribers, as well as a significant increase in average revenue per user due to a growing preference for higher value packages. The strong performance means the company continues to be cash flow positive, increasing its cash balance by $1.7 million during the quarter. Whilst I think Big Un is a promising company, its shares are a little on the expensive side for my liking.

The GUD Holdings Limited (ASX: GUD) share price climbed to a new 52-week high of $12.25 on Thursday. This latest gain means the retail conglomerate’s shares have now rallied a remarkable 17% so far in 2017. Although its first-half results were reasonably mixed, investors appear to believe the company will deliver a stronger second-half. But with its shares now changing hands at around 18x trailing earnings and full-year EBIT growth expected by management to be around 5%, I think its shares are looking fully valued now.

The Zelda Therapeutics Ltd (ASX: ZLD) share price raced to a new all-time high of 14 cents yesterday. The market appears to be pleased with the medicinal marijuana company’s decision to expand its clinical trials in Chile to cover autism. Management expects the trials to commence in the second half of the year, meaning the company could be in a position to generate revenue as soon as 2018 if they are successful. Whilst I like Zelda and think it is one of the better pot stocks on the market, I would hold off an investment until the trials have been completed.

Finally, here are three shares which I think could storm to 52-week highs themselves this year. Each is at the top of its game right now in my opinion.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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