With the S&P/ASX200 (ASX: XJO) index surging higher today, it's a good time to be invested in shares, but especially in ASX growth stocks. Growth stocks by definition tend to outperform the broader share market, so good days like today often turn into great days if you are following your growth strategy right.
So, in line with this, here are 2 ASX growth shares I'm especially bullish on this week.
Zip Co Ltd (ASX: Z1P)
Zip shares are rocketing today after having a pretty ho-hum couple of weeks. Z1P shares hit an all-time high of $5.86 in mid-October, but a series of bearish broker notes and regulatory issues dampened enthusiasm for this BN-PL player as well as its bigger rival Afterpay Touch Group Ltd (ASX: APT). Zip shares dropped as low as $3.44 just last week.
The shares have subsequently made their way back to the $4.10 level we see today (helped by some positive numbers coming out of the company), but due to the volatile nature of this stock, I still see an upside opportunity at current levels.
Appen Ltd (ASX: APX)
Appen is another tech stock that's been falling from grace recently. This human-dataset provider saw an all-time high of $32 back in July, but Appen has been trending lower ever since and is going for just $21.79 at the time of writing.
Appen operates in a high-growth industry, and I expect many big tech companies like Apple will continue to work with Appen to fine tune their AI-powered assistants like Siri. I think this stock may have found its bottom last week when it hit $19.96 and looks to be on a swing upwards, judging by today's prices. Thus, it might be a good time to consider an entry if you haven't done so already.
Foolish takeaway
I think these 2 ASX growth shares look like compelling deals to me this week, and judging by their pricing history, it might be a good time to consider opening a position.
In my opinion, both Zip and Appen operate in sectors with huge tailwinds – making them at least worthy of a second look on today's pricing.
