It was a disappointing end to the week for ASX 200 shares as the S&P/ASX 200 Index (ASX: XJO) closed down 2.5% at 5,847.80 points.
Last week I was watching Stockland Corporation Ltd (ASX: SGP), SkyCity Entertainment Group Limited (ASX: SKC) and Westpac Banking Corp (ASX: WBC).
The Stockland share price finished the week down 8.84% as the Aussie REIT pared back its recent gains. SkyCity shares finished down 4.10% while the Westpac share price slumped 4.79% to $17.89 on Friday.
After a disheartening 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 think the Woodside Petroleum Limited (ASX: WPL) share price is worth watching this week.
The Aussie oil and gas operator’s shares slumped 8.52% lower last week as one of many underperforming ASX 200 shares.
However, I think the technical environment remains pretty solid for Woodside. Factories are starting to ramp up production again and travel restrictions are being slowly eased.
That’s good news for the oil price and producers like Woodside over the next few months. Another ASX 200 share that could be worth a look is Scentre Group (ASX: SCG).
Scentre owns and operates Westfield shopping centres across Australia and New Zealand. Lower foot traffic due to coronavirus restrictions has hammered the Scentre share price 40.21% lower in 2020.
However, if restrictions continue to ease in Australia and New Zealand, we could see retail stores bounce back quickly this year.
Finally, one defensive ASX 200 share to watch this week is Newcrest Mining Limited (ASX: NCM). The Newcrest share price jumped 3.58% higher last week as investors got nervous.
If we see more volatility in the week ahead, I expect ASX gold shares like Newcrest to outperform once again.
Foolish takeaway
These are just a few of the ASX 200 shares I’m watching at the moment. As always, I believe it’s important to focus on a long-term investment horizon rather than getting too caught up in daily or weekly moves.
For more shares to add your watchlist, check out these 5 ASX shares under $5 today!
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More reading
- ASX winners and losers from last week
- Where to invest $10,000 into ASX 200 shares immediately
- ASX 200 Weekly Wrap: ASX bears take control as market volatility returns
- 5 things to watch on the ASX 200 on Monday
- Why the Healius share price will be in the spotlight tomorrow morning
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Scentre Group 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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