February delivered a sharp reality check for ASX investors. A renewed tech-led sell-off dragged several high-quality growth names down toward their 52-week lows, despite little change to their long-term outlooks.
These pullbacks can present rare buying opportunities for the long term.
Here are 3 ASX 200 shares that look increasingly attractive at current levels.
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CAR Group Ltd (ASX: CAR)
CAR Group shares are bouncing today, up 7.23% to $26.25. Despite the rebound, the stock remains around 5% lower over the past week following heavy selling earlier this month.
That pullback has pushed CAR Group back toward its 52-week lows, despite a strong first-half performance. As outlined in the company's FY26 half-year result, CAR Group delivered solid revenue and earnings growth, with management reaffirming its full-year guidance.
From a technical perspective, the chart shows CAR Group recently dipped toward the lower Bollinger Band, a level that often signals short-term exhaustion selling. The relative strength index (RSI) also moved into oversold territory during the wider market sell-off, pointing to market-driven weakness rather than company-specific issues.
CAR Group continues to hold dominant positions across carsales, Trader Interactive, and its global classifieds network. With strong cash generation and clear pricing power, the recent pullback may be giving long-term investors a chance to buy a high-quality business at a more reasonable price.
Xero Ltd (ASX: XRO)
Xero shares have been hit hard in recent sessions. The stock is up 1.17% today to $82.72, but remains almost 12% lower than this time last week.
That decline has taken Xero to levels not seen since early 2023, despite management recently highlighting long-term growth opportunities in artificial intelligence, automation, and the US market.
Technically, Xero looks deeply oversold. The RSI has dropped into the low 20s, historically an area associated with capitulation selling. The price is also hugging the lower Bollinger Band, reinforcing the view that selling pressure may be peaking.
Xero remains a high-quality, recurring revenue software business with strong customer retention. If sentiment stabilises, the current price could prove attractive for long-term investors willing to ride out volatility.
Pro Medicus Ltd (ASX: PME)
Pro Medicus shares are up 1.63% today to $160.20, but the stock is still down about 13% over the past week, putting it near its 52-week low.
This is notable given that Pro Medicus continues to execute exceptionally well operationally. Demand for its Visage imaging platform remains strong, particularly in the US, where contract wins continue to drive long-term earnings visibility.
The recent sell-off appears sentiment-driven, reflecting broader weakness in the technology sector rather than any change to the company's outlook. The RSI recently slipped into oversold territory, and the price touched the lower end of its trading range, both signals that selling pressure may be easing.
Despite the market correction, Pro Medicus remains one of the highest quality healthcare software businesses on the ASX.
Foolish Takeaway
February's sell-off has pushed several elite ASX growth stocks back to levels that look appealing.
CAR Group, Xero, and Pro Medicus all retain strong competitive positions and long-term growth drivers. While volatility may persist in the short term, these pullbacks could offer attractive entry points for investors focused on long-term value.
