The current market sell-off has created some great opportunities to add some ASX shares to your portfolio. At times like these, you should be looking at the ASX shares that you've always wanted to buy but were previously too expensive.
While no one can predict the absolute bottom of the market, choosing quality ASX shares coupled with time is a fool-proof way to build wealth.
Listed below is my top three ASX shares that I believe won't be trading at bargain prices for very long.
Origin Energy Ltd (ASX: ORG)
As one of Australia's leading energy retailers, Origin operates across a number of portfolios. Its diversified business model includes energy sales to customers, renewable energy such as wind and solar, gas exploration and production, and power generation from traditional fuels.
The slump in oil prices overnight has had an adverse effect on the Origin share price. At the time of writing, the Origin share price is trading at $4.84, down 5.1%. This reflects a total loss of 45% from its 52-week high of $8.89 achieved in January.
I believe the weakness in this ASX share presents a buying opportunity for long-term investors. Oil is symbolised as the engine of the world, and although it has come to a halt for now, the economy will eventually recover. In light of this, I would be happy to add Origin to my portfolio at its current price.
Cochlear Limited (ASX: COH)
Another ASX share that I think is undervalued is Cochlear. The company is a world leader in implantable hearing solutions. The impacts from COVID-19 have caused difficult trading conditions for this medical business.
During early February, the Cochlear share price reached an all-time high of $254.40 but has since pulled back to $189.55 at the time of writing. This represents a discount of 25% in just a number of months for this quality ASX share.
While management has noted a small fall in patient assessments for cochlear and acoustic implants, the company remains confident that sales will resume post COVID-19. I agree with this statement and think that the Cochlear share price trading at a bargain price.
Woolworths Group Ltd (ASX: WOW)
Woolworths is an Australian conglomerate that has diversified interests in supermarket, liqueur and drink outlets, discount retail chains, and hotels.
Woolworths performed with mixed results of recent times. Its supermarket business has been delivering strong growth while its hotel portfolio has been weighing down group earnings. The company is awaiting approval of its $552 million acquisition of PFD Food Services, a distributor and wholesaler or fresh produce.
The Woolworths share price is down 1.6% today to $36.75 at the time of writing. However, the supermarket giant has tumbled 16% from its all-time high of $43.96 in February.
Woolworths is in the middle of a process to demerge its hotel division to seek a leaner business model. I believe that the Woolworths share price presents value and would class it as a buy.
