Market rallies rarely announce themselves in advance.
By the time confidence returns, some of the best opportunities may already have moved. That is why it can be worth looking for quality ASX shares while sentiment is still mixed.
The aim is not to chase the hottest stock of the week. It is to find businesses with strong long-term drivers that could benefit when investors become more willing to back growth again.
Here are three ASX shares I’d be looking at before the next market rally.
Breville Group Ltd (ASX: BRG)
Breville is an ASX share I’d be happy to buy before confidence improves.
The company has built a global premium appliance business with coffee at the centre of its growth story. Its espresso machines have benefited from the shift toward better coffee at home, particularly among consumers willing to pay for quality.
That category gives Breville more than a one-off product sale. Coffee sits in daily routines, and the company has built credibility with consumers who care about performance, design, and consistency.
Breville also has room to grow internationally through its Breville, Sage, Baratza, and Lelit brands. Expansion in the United States, Europe, and newer markets gives the business several levers beyond Australia.
If consumer sentiment improves and premium spending stabilises, Breville could be well placed to keep building on its global growth story.
Megaport Ltd (ASX: MP1)
Megaport is a smaller and more volatile idea, but its market opportunity is significant.
This ASX share helps businesses connect to cloud providers, data centres, and networks through its on-demand connectivity platform. As companies continue shifting workloads into the cloud, the need for flexible digital infrastructure keeps growing.
Megaport’s recent acquisition of Latitude.sh expands the company beyond connectivity and into compute infrastructure, increasing its addressable market.
That is important because cloud and artificial intelligence demand are not only software stories. They require networks, compute capacity, and infrastructure that can scale quickly.
Megaport still has to execute well. But if it can turn its broader platform into stronger revenue and earnings growth, the share price could have significant upside over the long term.
ResMed Inc (ASX: RMD)
ResMed Inc remains one of the highest-quality healthcare businesses on the ASX.
The company develops devices, masks, and software used to treat sleep apnoea and other breathing-related conditions. These are not discretionary products. They sit in an area of healthcare where diagnosis, treatment, and ongoing patient management is important.
What makes ResMed interesting is the size of the untreated market. Management estimates that there are over 1 billion sufferers of sleep apnoea globally, with the vast majority still undiagnosed. This means demand can continue growing as awareness improves and more patients enter treatment.
The company also benefits from connected devices and digital tools that help patients and healthcare providers manage therapy over time. That gives ResMed a stronger position than a simple medical device manufacturer.
If investors rotate back toward reliable global growth businesses, ResMed could be one of the ASX shares that attracts attention.
The post I’d buy these 3 ASX shares before the next market rally appeared first on The Motley Fool Australia.
Should you invest $1,000 in Breville Group right now?
Before you buy Breville Group shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Breville Group wasn’t one of them.
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* Returns as of 20 Feb 2026
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Motley Fool contributor James Mickleboro has positions in Megaport and ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.