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Why these 4 ASX shares are ending the week with strong gains

It has been a disappointing end to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.7% to 5,748 points following a sharp drop in oil prices.

But not all shares are finishing the week in the red. In fact, the four shares below are finishing with strong gains. Here’s what you need to know:

The Creso Pharma Ltd (ASX: CPH) share price has surged almost 8% to 47.5 cents. Pot stocks have been out of favour in the last couple of weeks, but traders appear to have returned this week to snap up shares at cheaper prices. Unlike other medicinal cannabis companies, Creso Pharma intends to provide products for both the animal and human health markets.

The OceanaGold Corporation (ASX: OGC) share price has jumped 4% to $4.48 today. OceanaGold is one of a number of gold miners which are climbing higher despite the spot gold price remaining relatively flat. With the local market sinking lower, traders appear to have taken flight to safe haven assets.

The Sigma Healthcare Ltd (ASX: SIG) share price has bounced back after its sharp decline this week with a 5% jump to 79.2 cents. Some investors appear to think the company behind the Amcal and Chemist King brands is in bargain territory after a 35% drop this week. Although it does look dirt cheap now, I am concerned that profit growth could elude the company for the next few years. For that reason I’m staying away from its shares.

The Super Retail Group Ltd (ASX: SUL) share price is up 3% to $7.49. The retailer behind the Super Cheap Auto and Amart brands has found itself caught up in the retail sell-off this month. Prior to today its shares were down 23% month-to-date. This appears to have put them in bargain territory as far as some investors were concerned.

If you missed out on these gains today and saw your portfolio drop lower instead, I would suggest you take a look at these high-flying blue-chip shares. Their strong growth potential and growing dividends make them great options 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 owns shares of Super Retail Group 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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