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These 3 ASX shares just sank to 52-week lows

The shares of Xero Limited (ASX: XRO) may have raced away to a 52-week high on Monday, but not all shares were so fortunate.

In fact, the three shares below drifted to a 52-week low. Here’s what you need to know:

The Amcor Limited (ASX: AMC) share price hit a 52-week low of $13.12 on Monday. Investors have been selling the packaging giant’s shares amid concerns over rising raw materials costs and weakness in its North and Latin America businesses. This led the company to modestly lower its FY 2018 outlook at the Macquarie Australia conference last week. While I think a lot of this has now been built into its share price, I would suggest investors wait for signs of improvement before buying shares.

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price fell to a 52-week low of $2.19 on Monday after the surprise withdrawal of its earnings and fee earning assets under management (FEAUM) guidance for FY 2018. I suspect that many in the market now believe that the Glaucus short seller report was on the money. As cheap as its shares may look, I think investors ought to give it a wide berth. After all, it looked cheap on paper at $5.00 and here we are today 50% lower than that price.

The InvoCare Limited (ASX: IVC) share price touched on a 52-week low of $11.40 on Monday. Investors continue to head to the exits after last week’s disappointing trading update which revealed a downgraded to its earnings guidance. I can’t say I’m surprised that investors are closing positions in a hurry. With operating earnings per share expected to decline in FY 2018, I think InvoCare is expensive at 21x trailing earnings. A broker note out of Deutsche Bank may also be weighing on the funerals company’s shares. It slapped a sell rating and $10.80 price target on InvoCare last week.

Need a lift? Forget InvoCare and look at these top shares. I expect them to smash the market in 2018 and 2019.

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.

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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 Xero. 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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