The S&P/ASX 200 Index (ASX: XJO) is putting in a strong showing today.
ASX 200 shares are up a combined 1.27% in afternoon trading.
That will come as welcome news to investors who watched the benchmark index slide 9.9% from the start of the year through to 27 January. ASX 200 shares have now rebounded 5% from that low.
But we're not necessarily out of the bearish woods quite yet.
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Investor worries fuelling volatility
According to Saxo Capital Markets Australian market strategist Jessica Amir, share markets are seeing increased volatility as investors fret over inflation driving higher interest rates, rising geopolitical tensions, and issues in energy markets.
But she sees it all as a glass half full.
As The Australian reports, Amir says that despite these concerns, "there are opportunities".
The first ASX 200 share she sees opportunity in for 2022 is Whitehaven Coal Ltd (ASX: WHC).
With a market cap just north of $2.9 billion, Whitehaven is the biggest pure play coal miner on the ASX.
Amir notes that Whitehaven's share price has fallen recently – it's down 20% from the 6 October 12-month highs – but she says profits are expected to more than double in 2022.
According to Amir, "China, India and Russia make up 50% of global electricity consumption and most of that comes from coal."
Next up, Amir believes WiseTech Global Ltd (ASX: WTC) has been oversold.
The ASX 200 share, with a market cap of $14.5 billion, provides cloud-based software solutions for international and domestic logistics industries.
According to Amir (quoted by The Australian), "This is a tech company that powers the logistics industry and works with global brands like DHL and FedEx. Its shares look like they have been oversold."
Then there's Allkem Ltd (ASX: AKE).
Formerly known as Orocobre Limited before rebranding, Allkem supplies lithium carbonate and boron worldwide, with its resources predominantly located in Argentina.
Amir said that with lithium prices forecast to rise 80% in 2022, that should be good news for the Allkem share price.
How have these 3 ASX 200 shares been tracking?
The Whitehaven share price has soared 93% over the past 12 months and is up 11% so far in 2022.
The Allkem share price has rocketed 87% since this time last year but is down 12% since the opening bell on 4 January.
As for WiseTech, the ASX 200 share is up 34% over 12 months and down 24% so far this calendar year.
