Local shares are riding higher today, much to the relief of investors who watched shares plunge on Friday on the back of Britain's shock decision to leave the European Union.
The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was by no means the worst-performing market around the globe for the day, with markets in the United States and Europe faring much worse, but the shockwaves were still felt far and wide. With the exception of gold, very few shares emerged from Friday's session unscathed, leaving many potential buying opportunities.
While many shares have made a recovery of sorts today, further volatility can and should be expected over the coming weeks, which could bring a round of new opportunities. Here are four ASX shares worth keeping an eye on in case they do fall further in price:
Appen Ltd (ASX: APX) shares were down as much as 5.5% earlier in the session, but have since rebounded to trade 5% higher at the time of writing. The company provides language and linguistic services with its applications being used in various forms including GPS and in-vehicle speech technology. Despite its strong rise over the last 12 months, its shares still appear to trade at a reasonable price for long-term investors. The majority of the company's earnings are generated in the United States which could also bode well for investors if the Australian dollar continues to decline.
Like most other shares, iSentia Group Ltd (ASX: ISD) was hit hard on Friday. The company provides media monitoring services to some of the biggest companies in the world, which is often regarded as a vital service to have. Offered at a relatively cheap price, most businesses would arguably look for other costs to cut in the event of an economic crisis before they looked to scrap iSentia's services. Therefore, Friday's sell-off may have been overdone. One way or another, iSentia appears to have strong growth prospects in the years ahead.
oOh!Media Ltd (ASX: OML) is a leading out-of-home advertising business in Australia. If the economy does take a turn for the worse, the advertising market could also take a hit which would be bad for oOh!Media's business. However, out-of-home advertising itself has grown strongly in recent years and a significant pullback in the group's share price could definitely warrant further investigation by long-term investors.
Class Limited (ASX: CL1) shares have made a recovery today after they too were sold down on Friday. The company provides an award-winning cloud-based platform from which administrators can manage self-managed superannuation funds (SMSFs), and it is growing rapidly in popularity with roughly 17% of SMSF accounts currently on the platform. The shares aren't the bargain they were when they listed on the ASX at $1 each back in December (they're currently trading for $3.32), but the business itself is certainly worth a closer look.
