It was another rollercoaster week for ASX shares as the recent bull run came to an end. The S&P/ASX 200 Index (ASX: XJO) closed the week 2.5% lower at 5,847.8 points.
But as always, a falling share market creates some great buying opportunities. Here are a couple of top ASX shares that I think could be trading cheaply today.
The Webjet Limited (ASX: WEB) share price
One ASX share that got hit pretty heavily last week was Webjet Limited . Investors have been bullish on Aussie travel shares in recent weeks with the Webjet share price climbing 108.8% between 23 April and 9 June.
That strong momentum came to an end last week as Webjet shares crashed 12.03% lower. No one knows quite what the travel industry will look like in 2020 and beyond.
This means the ASX travel share could continue to be volatile in the weeks ahead. I still think its a speculative buy, especially given the recent share price doubling.
However, if travel rebounds quickly and Aussies are happy to spend their spare cash, Webjet could turn out to be a bargain at its current price of $3.94 per share (at the time of writing).
The Woodside Petroleum Limited (ASX: WPL) share price
I've also got my eye on ASX oil shares after some of the heavy falls we saw last week. In particular, The Woodside Petroleum share price slumped 8.52% lower to $21.37 per share.
However, I think there are some positive signs for the Aussie oil and gas producer. With coronavirus restrictions easing and the economy warming up again, demand for oil could be set to surge.
Higher demand means higher oil prices which is good for corporate earnings. This could mean the Woodside share price is a cheap buy at its current price.
Foolish takeaway
These are just a couple of ASX shares that could be trading at ridiculously cheap prices in the current market.
