These ASX shares skipped the market selloff and raced to 52-week highs

As surprising as it may sound, not all shares have been impacted by this week’s market selloff.

In fact, some have even managed to climb to 52-week highs despite the rampant selling.

Three shares that achieved this on Wednesday are listed below, is it too late to invest?

The Coca-Cola Amatil Ltd (ASX: CCL) share price hit a 52-week high of $10.39 on Wednesday. This beverage giant’s shares will traditionally perform better than most during volatile markets due to its defensive qualities. While I think it is a great share to have in your portfolio for this reason, I feel that it might be a little late to invest. At 20x earnings I suspect that the risks are to the downside for Coca-Cola Amatil’s shares now. In light of this, I would suggest investors wait for an opportunity to pick up shares at a cheaper price.

The Inghams Group Ltd (ASX: ING) share price climbed to a 52-week high of $4.54 yesterday. That gain brought the poultry producer’s year to date price return to 34%. This is especially impressive given how Inghams is one of the most shorted shares on the Australian share market right now. Short sellers appear to be targeting the company due to concerns that the droughts could be having a negative impact on its business through higher input costs. While it is starting to look like they may have made the wrong call on this one, I’m not a buyer as I think its shares look about fair value now.

The Orion Health Group Ltd (ASX: OHE) share price raced to a 52-week high of $1.15 on Wednesday. Orion Health is an eHealth software company delivering interoperable, connected solutions for healthcare facilities and organisations. The company recently announced the sale of portions of its Rhapsody and Population Health Management businesses for an enterprise value of $255 million to private equity firm Hg. The money raised has been used to fund a share buyback programme which I suspect has supported its share price during the recent volatility. However, I think Orion could be worth a closer look despite the recent share price gains.

Did you miss out on these gains? Then check out these hot stocks that have been tipped for big things.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Coca-Cola Amatil 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!