As we slowly approach the halfway point of 2026, investors may be repositioning their portfolios after a lacklustre opening few months.
The S&P/ASX 200 Index (ASX: XJO) is down 2.5% year to date.
However the soft start to the year has created value opportunities across the market.
Many of these opportunities are in the travel, healthcare and technology sectors, which have struggled so far this year.
With that in mind, here are five ASX shares that could be set to bounce back.
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Qantas Airways Ltd (ASX: QAN)
Australia's largest airline has unsurprisingly struggled in 2026.
Headwinds like spiked oil prices and global conflict have weighed heavily on travel shares.
Additionally, interest rate hikes and inflation have put pressure on household spending.
Despite these headwinds, there is reason to be optimistic long-term for this blue-chip ASX stock.
TradingView data shows the current share price could be overestimating these headwinds, as the average analyst rating has a one year price target of $11.04 on these ASX shares.
This indicates an upside potential of 30% for Qantas shares.
Life360 Inc (ASX: 360)
Life360 is a United States-based software development company. The company's core product is a private family and friends social networking app that allows users to communicate and share their locations.
Its share price is down 44% year to date.
However this could be another buy-low opportunity.
Despite the recent share price softness, the company recently reported revenue growth of 38%, advertising revenue growth of 329% and operating cash flow increase of 42% year-over-year.
As the Motley Fool's Tristan Harrison reported yesterday, the average price target according to CMC Invest, is $30.52 on these ASX shares.
This indicates an upside potential of roughly 66% in the next 12 months.
REA Group Ltd (ASX: REA)
REA Group has been another online classified stock caught in the crosshairs of AI disruption fears.
Its share price is down 11% this year but has shown signs of a rebound already.
Bell Potter believes this rebound can continue into the second half of the year.
The broker has an updated price target of $217 on these ASX shares, indicating an upside potential of 32%.
ResMed CDI (ASX: RMD)
Moving attention to the healthcare sector, Resmed shares have been heavily sold off in 2026.
The global leader in sleep technology has seen its share price tumble 22% year to date.
However it has recently been attracting plenty of attention as a buy-low candidate.
Recently, the team at Morgans placed a price target of $41.72 on these ASX shares after quarterly results.
This price target indicates an upside potential of 48% from current levels.
Cochlear Ltd (ASX: COH)
Cochlear shares crashed earlier this year after the ASX healthcare company downgraded its FY26 earnings guidance.
At the time of writing, they are down 65% in 2026, making them some of the worst performing ASX 200 shares this year.
For investors playing the long game, the current price might be too good to ignore, as Cochlear shares peaked at more than $330 in 2024, and currently sit at $93 per share.
16 analyst forecasts via TradingView place fair value at around $130 per share, roughly 39% higher than current levels.
