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Why these 4 ASX shares have jumped higher today

It has been another disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down 1.2% to 5,687 points.

Four shares which have managed to defy the market and climb higher today are listed below. Here’s why they jumped higher:

The Ellex Medical Lasers Limited (ASX: ELX) share price has jumped 5% to $1.05 after the medical device company announced that the Chinese government had confirmed regulatory approval for its iTrack device until May 2022. This means it is the only minimally invasive glaucoma surgery device approved in this market.

The Retail Food Group Limited (ASX: RFG) share price has bounced back from yesterday’s heavy decline with a 4% gain to $4.81. A research note out of UBS on Monday suggested that the company could be negatively impacted by changes to accounting standards in FY 2019. Management came out today and rebuffed these claims, stating that they were “speculative guesswork”. Whilst I’m not a fan of all of its brands, I believe its dirt cheap price makes Retail Food Group worth considering today.

The Starpharma Holdings Limited (ASX: SPL) share price has climbed almost 5% to 71.2 cents after the dendrimer product developer released a positive update regarding its DEP irinotecan product. According to the release the product outperformed the standard irinotecan in multiple colon cancer models. This is promising news considering that colorectal cancer has a significant unmet need and represents a potentially lucrative market for the company.

The Whitehaven Coal Ltd (ASX: WHC) share price has jumped 4% to $2.60 despite there being no news out of the coal miner. Based on current prices, some traders clearly think that Whitehaven is a steal following its 22% share price decline in the last two months. But coal isn’t a commodity I’m overly bullish on at present, so I would suggest investors stay away despite how cheap it looks.

If you missed out on gains today then don't worry. These high-flying growth shares look even more attractive to me after the recent market volatility.

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 Retail Food 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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