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These 3 ASX shares just hit 52-week highs: Can they go higher?

Although the performance of the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has been reasonably mixed in the last few months, that hasn’t stopped some shares from rocketing higher.

The shares listed below have just hit 52-week highs. Can they keep climbing higher?

The Jumbo Interactive Ltd (ASX: JIN) hit a multi-year high of $2.82 yesterday. This fast-growing lottery reseller’s shares have rallied a massive 19% this month on the back of news that its decade-long lottery reseller agreements with Tatts Group Limited (ASX: TTS) have been extended for at least five more years. Furthermore, Tatts has acquired a 15% stake in the company. I believe this is great news and think that Jumbo is still reasonably good value despite the strong gain.

The RCR Tomlinson Limited (ASX: RCR) share price hit a two-year high of $3.42 on Monday. The diversified engineering and infrastructure company announced a series of major contract wins in the last few weeks worth almost $400 million. One such contract, valued at $175 million, is to design and construct one of Australia’s largest utility solar farms located in Dalby, Queensland. I believe its shares are fully priced now, but should the new contracts keep rolling in then there could be further upside potential.

The XERO FPO NZX (ASX: XRO) share price reached a two-year high of $22.08 yesterday. The catalyst for this has been its impressive increase in subscriptions and the release of a strong full-year result last week. At the end of March the company reported that its cloud accounting software platform had surpassed one million subscribers. This ultimately led to Xero posting a 43% jump in full-year revenue last week. I believe Xero’s growth is only just starting, which could make it a great option for investors even at its two-year high.

Finally, here are three other growth shares which I think can also climb higher over the next few months.

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.

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