The Motley Fool

Why these 4 ASX shares have started the week with a bang

The market selloff has resumed on Monday and the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down 1.2% to 5,826.8 points in afternoon trade.

Four shares that have defied the market decline and pushed higher today are listed below. Here’s why they have started the week with a bang:

The Biotron Limited (ASX: BIT) share price has rocketed 29.5% higher to 22 cents. While the drug development company announced the receipt of a $1.1 million R&D tax incentive refund this morning, I don’t think that’s the reason for the gain. Instead, I feel investors are likely to be still fighting to get hold of Biotron’s shares due to its promising work on the HIV-1 infection. Its shares are now up over 1,000% in the space of just two weeks.

The Eden Innovations Ltd (ASX: EDE) share price has continued its strong run and is up a further 21% to 12 cents. The clean energy company’s shares have been on fire since it won a small contract in the United States late last month for its EdenCrete admixture. While it was good news, I think the buying has been overdone. As a result, I would suggest investors approach this one with caution.

The Santos Ltd (ASX: STO) share price has pushed 2% higher to $7.03. This morning the energy company signed a binding agreement with Real Energy Corporation Limited (ASX: RLE) for gas processing at Moomba and gas transportation and tie-in at Mount Howitt. In addition to this, rising oil prices during Asian trade have been a boost to the Santos share price.

The Speedcast International Ltd (ASX: SDA) share price has climbed 5% to $3.94 despite there being no news out of the provider of remote communications and IT services. A number of beaten down telco companies have pushed higher today as investors look to escape the market volatility with value options. Speedcast International’s shares have fallen heavily this year after a surprise downgrade.

OUR #1 dividend pick to grow your wealth now is revealed for FREE here!

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new 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 2.8% 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.

CLICK HERE FOR YOUR FREE REPORT!