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Why these 4 ASX shares have stormed higher today

So far it has been a disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down 0.6% to 5,921 points due largely to declines in the financial sector.

But not all shares have sunk lower today. Four shares in particular have made notably strong gains. Here’s why:

The Bellamy’s Australia Ltd (ASX: BAL) share price is up almost 9% to $5.87 despite there being no news out of the infant formula company. Today’s gain means that Bellamy’s share price has risen a remarkable 39% in the last 30 days. It would appear as though some investors believe the worst is behind the company now.

The Pilbara Minerals Ltd (ASX: PLS) share price has rocketed 19% to 40.5 cents after the lithium miners announced a long-term off-take and financing agreement with leading integrated Chinese lithium producer Jiangxi Ganfeng Lithium. Whilst the miner is still waiting for its mining license and the completion of its stage one funding, things do look very positive for shareholders.

The RCG Corporation Ltd (ASX: RCG) share price has bounced back from yesterday’s heavy decline with a 5% gain to 63.7 cents. Its shares were given a boost this morning after a research note out of Citi revealed that its analysts had upgraded the retailer to a buy rating. According to the note, Citi feels RCG Corporation will be attractive to value investors following its share price decline.

The RCR Tomlinson Limited (ASX: RCR) share price has jumped for a second day in a row, this time by 5.5% to $3.25. Investors have been snapping up shares after the diversified engineering and infrastructure company announced its second major contract in as many days. The latest contract, valued at approximately $175 million, is to design and construct one of Australia’s largest utility solar farms located in Dalby.

Finally, if you missed out on these huge gains today I wouldn't worry. I expect these top picks to rocket higher this year.

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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