The Motley Fool

Why these 4 ASX shares are ending the week on a high

It has been another disappointing day of trade for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade it has followed the lead of U.S. markets and is down 0.9% to 5,918 points.

Four shares that defied the market today and pushed higher are listed below. Here’s why they are ending the week on a high:

The Auscann Group Holdings Ltd (ASX: AC8) share price is up 5.5% to $1.53 despite there being no news out of the medicinal cannabis company. Today’s gain is likely to be attributable to strong gains being made by its Canadian equivalents overnight. One of the standouts was Canopy Growth Corp, which is a major shareholder in AusCann. Its shares rose 9.5% last night, taking its market capitalisation up to almost C$6 billion.

The Cynata Therapeutics Ltd (ASX: CYP) share price is up 5% to $1.23. With no news out of the promising biotech company, I suspect today’s gain is likely to be related to a broker note out of US-based HC Wainwright and Co. That note revealed that the broker had reiterated its buy rating and $1.50 price target on Cynata’s shares.

The Saracen Mineral Holdings Limited (ASX: SAR) share price is up 2% to $1.69. The gold miners as a whole have pushed higher today due the market volatility. But Saracen may be climbing more than most because its shares were sold off heavily yesterday after its full-year results disappointed the market. Saracen posted a $101 million full-year loss due to lower sales, a significant rise in production costs, and a $63.8 million non-cash adjustment to the value of low grade ore stockpiles.

The Vita Group Limited (ASX: VTG) share price has climbed 4% to $1.62. I suspect that some investors think that Vita’s shares have fallen into the bargain bin after their post-earnings decline.  The retailer’s shares fell sharply this week after it reported a 48% decline in half-year profit compared to the prior corresponding period.

But I wouldn't be buying Vita's shares, I would be buying these top stocks instead.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean 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 2018."

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%.

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 of the 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 Scott Phillips.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.