3 ASX shares I think you’ll be glad you bought at these prices

Although the S&P/ASX 200 Index (ASX: XJO) has climbed more than 11% since the start of November, there are still some bargains to be snapped up for long-term investors.

Remember, each dollar you save on the buying cost is a dollar added to your eventual returns.

So while it’s impossible to time the market, entry cost matters.

Here are three ASX shares going for cheap that I can think of:

Just the start of a long journey

Xero Ltd (ASX: XRO) is a long-time favourite for growth investors, but its share price has recently stalled somewhat.

In fact, the accounting software maker is now more than 10% down since the start of September.

But the long-term outlook remains positive under chief executive Sukhinder Singh Cassidy, who has been at the helm for a year now.

She was brought in with a mission to transform the former growth-at-all-costs business to a growth-with-positive-cash-flow model.

There will be hiccups along the way, which is why the stock has spluttered over the past six months.

But long-term investors know the shift will take some time.

Professional investors certainly seem to appreciate this, with 12 out of 19 analysts currently surveyed on CMC Invest rating Xero as a buy.

The ASX shares for economic optimists

Mining technology provider RPMGlobal Holdings Ltd (ASX: RUL) is also another stock that’s made plenty of people rich in the past.

The share price has more than doubled over the five years, although it’s now 17% off its December 2021 peak.

And that could make for an ideal buying opportunity.

The macroeconomic tailwinds are certainly in place.

In the west, interest rates are already stabilising and a cut could even be not too far away. 

Meanwhile, in China, its fight against deflation continues. This could mean direct or indirect economic stimulus could be imminent.

In both regions, the developments could drive up consumption, send commodity prices higher, and RPMGlobal’s clients could have more to spend on tech.

Both Moelis and Veritas recommend RPMGlobal shares as a strong buy, according to CMC Invest.

A cheapie that’s 73% more expensive than a year ago

Staying with the mining theme, Chrysos Corporation Ltd (ASX: C79) provides assay services with unique technology that speeds up the testing with higher accuracy compared to traditional methods.

You may raise your eyebrows that I call this a bargain, since the stock price has rocketed 73% higher over the past 12 months.

However, Chrysos shares are down almost 21% since 10 January, presenting a dip.

For the same reasons as RPMGlobal, I’m bullish on Chrysos.

The high part of the mining cycle could come in the next few years, and service providers like Chrysos could really cash in.

All three experts surveyed on the CMC Invest broking platform rate the shares as a buy.

The post 3 ASX shares I think you’ll be glad you bought at these prices appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 tech shares taking a beating today?
• 2 ‘oversold’ ASX shares to get onto right now at ‘attractive entry levels’
• 2 ASX stock picks with explosive potential
• I think this ONE factor gives ASX shares a huge chance to make big returns
• Brokers say these ASX mining shares are strong buys in February

Motley Fool contributor Tony Yoo has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Chrysos, RPMGlobal, and Xero. The Motley Fool Australia has positions in and has recommended Chrysos and Xero. The Motley Fool Australia has recommended RPMGlobal. 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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