It was a strong week for ASX shares as the S&P/ASX 200 Index (ASX: XJO) surged 4.22% higher last week to close just shy of 6,000 points.
The benchmark Aussie index finished the week at 5,998.70 points and was led higher by many Aussie blue chips including the banks.
Last week I was watching Bendigo and Adelaide Bank Ltd (ASX: BEN), Flight Centre Travel Group Ltd (ASX: FLT) and St Barbara Ltd (ASX: SBM).
The Bendigo share price was one of last week’s biggest moving as it rocketed 19.02% higher including a 4.72% gain on Friday. Flight Centre shares also surged, gaining 17.66%, while St Barbara shares were sold-off in the bullish ASX 200 share market and closed the week down 3.85%.
After a big week for last week’s top picks, here are 3 shares I’ll be watching in the week ahead.
3 ASX 200 shares to watch this week
I always like to watch some of the biggest movers from the previous week. That means Stockland Corporation Ltd (ASX: SGP) is in my sights.
The Stockland share price rocketed 10.92% last week and is up another 4.04% at the time of writing. The Aussie real estate investment trust (REIT) seems to be climbing thanks to investor optimism.
Stockland has interests in retail, office and residential real estate. There are a lot of factors at play in all of those areas right now. I think this ASX 200 REIT could be set to recover further if the re-opening of the economy continues at a cracking pace.
Another ASX 200 share I’ve got my eye on is SkyCity Entertainment Group Limited (ASX: SKC). SkyCity operates a number of hotels and wagering businesses that are starting to see eased restrictions.
That could be good news for SkyCity earnings in FY20 and FY21. The entertainment share is up a whopping 8.96% in morning trade so far and will be well worth watching this week.
I also think it’s hard to ignore the ASX banks right now. The Westpac Banking Corp (ASX: WBC) share price is one I’m watching this week.
The big four bank’s shares have some strong momentum after rocketing 9.12% higher last week. Westpac shares have shot out of the gates this morning to be up more than 5% at the time of writing.
I’d expect investors to continue buying high-quality shares this week. Westpac shares are still down 22.45% for the year and could have further to go in 2020.
Foolish takeaway
These are just a few of the ASX 200 shares I’m watching at the moment. It’s important to focus on the long-term investment horizon rather than getting too caught up in daily or weekly moves.
There might be tactical buying opportunities on offer from time to time. However, I believe a buy and hold strategy is still the ticket to long-term wealth.
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More reading
- 2 ASX 200 biotech shares to consider buying today
- Is the Webjet share price a cheap buy today?
- ASX 200 Weekly Wrap: ASX bulls crash through 6,000 points
- ‘Westpac share price undervalued’, says analyst
- Cheap ASX 200 retail shares to buy today
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Sky City Entertainment Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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