The Motley Fool readers will be well familiar with the advice that it’s a dangerous game trying to pick the bottom.
That’s why the best alternative might be to try to hop on ASX shares that have just started rising.
If the underlying business is thriving, the upwards stock price momentum could continue, and it may end up a fruitful investment for those who got in early.
Taking this philosophy, one expert this week earmarked two ASX shares that he would buy right now:
Throwing down the gauntlet
Protective glove maker Ansell Limited (ASX: ANN) has been a painful stock to own for long-term investors, but it has shown signs of life in recent times.
Over the past six months, the share price has spiked up more than 20%.
“The share price has been trending higher since June 2022 and breached resistance at $28 in late October,” Fairmont Equities managing director Michael Gable told The Bull.
“The technical chart remains bullish, which is another positive for the stock. The stock is in a strong uptrend, with no signs of weakness.”
While Gable is keen on Ansell as a buy, that view is not unanimous among his peers.
According to CMC Markets, four out of eight analysts currently covering the $3.6 billion company rate the stock as a hold. Three do consider it a strong buy, while one says Ansell is a moderate sell.
Gold is back, baby
Last year was remarkable in that both stocks and bonds suffered, even though traditionally, they are seen as counterweights to each other.
To top off the disaster, the ultimate ‘safe haven’ of gold also struggled for most of the year.
But with a global recession looming, the last couple of months has seen a revival for the precious metal.
This is why Gable rates miner Evolution Mining Ltd (ASX: EVN) as a buy.
“We’re bullish about the outlook for gold in volatile and uncertain times across the globe,” he said.
“Evolution is one of the biggest gold miners on the ASX.”
Similar to Ansell, the Evolution share price is on an upward swing.
“The share price has risen from $1.81 on October 21, 2022, to trade at $3.33 on January 12, 2023,” said Gable.
“We expect the upward trend to continue. In our view, any short-term weakness presents a buying opportunity.”
The post ‘No signs of weakness’: Expert names 2 ASX shares to buy just starting their rise appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Tuesday
- 5 things to watch on the ASX 200 on Thursday
- Will 2023 be a golden year for ASX 200 mining shares?
- Whatâs the outlook for ASX 200 gold shares in 2023?
- Could ASX 200 gold shares provide a safe haven for investors in 2023?
Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell. 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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