Why these 4 ASX shares climbed higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of U.S. markets and is down 0.7% to 5,932 points.

Four shares than have defied the market today are listed below. Here’s why they climbed higher:

The Blackmores Limited (ASX: BKL) share price is up almost 4% to $134.51 despite there being no news out of the health supplements company. But considering that Blackmores’ shares have fallen hard since the release of a disappointing half-year result, I suspect that bargain hunters may have swooped in to buy shares today.

The G8 Education Ltd (ASX: GEM) share price has pushed 2.5% higher to $2.82 thanks to the release of a positive broker note out of Morgans. According to the note, the broker has initiated coverage on the childcare centre operator with an add rating and $3.53 price target. Morgans believes that G8 Education is well positioned to grow organically and through acquisitions in the medium term after favourable regulatory changes. While I agree with Morgans on most points, I think investors would be better off waiting for improvements in occupancy levels before investing.

The Orocobre Limited (ASX: ORE) share price has moved almost 4.5% higher to $6.16. Although there was no news out of the lithium miners today, investor sentiment towards them appears to have shifted positively once again. Although I do think investors ought to keep an eye out for any weakness in lithium prices, I remain positive on the outlook for Orocobre and its peers in the short to medium term.

The Regis Resources Limited (ASX: RRL) share price has risen 2.5% to $4.56. Although many gold miners are up because of investors moving to risk off assets today, Regis was given an additional lift from a broker note out of the Macquarie equities desk. That note revealed that its analysts have upgraded Regis’ shares to an outperform rating from neutral with an increased price target of $5.00.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended G8 Education 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 Scott Phillips.

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