If the S&P/ASX 200 Index (INDEXASX: XJO) closes lower today, it will mark the fourth day in a row of market losses. So, I think it might be time to have a look at some ASX shares and see which ones are worth buying today. After all, shares are a lot cheaper this week than last week and who doesn't love a good bargain?
So with that being said, here are four ASX shares I think are in the buy zone today.
CSL Limited (ASX: CSL)
The days when CSL was briefly the largest company on the ASX seem quite distant today (even though it was just last week). CSL shares have now dropped from over $350 a share to today's price of $314.57.
CSL is a company that doesn't go 'on sale' very often at all, so this drop might be a nice buying opportunity for those investors who have been watching this healthcare giant. In my view, CSL does have the unfortunate characteristic of always seeming just a little too expensive. But anyone who has picked up this company in the last five years has had to overcome this barrier and wouldn't be regretting it today (except perhaps those who bought last week).
Telstra Corporation Ltd (ASX: TLS)
This ASX telco is a company whose share price has been hit hard by market fears this week. Telstra shares were asking $3.82 a week ago – and $3.92 a week before that. But today, those shares will set you back just $3.45 each – a one week drop of nearly 10%.
Still, I think Telstra is one of the companies least likely to be affected by the coronavirus (it sells phones and internet connections after all). Thus, I think today might be a great buying opportunity for this ASX telco, especially if you consider the trailing dividend yield of 4.64% (or 6.63% grossed-up) on current prices.
Coles Group Ltd (ASX: COL)
Coles is another company that I don't see being at too much risk from the coronavirus, but clearly the market feels differently today. The Coles share price is down another 2% today to $14.60. It's an extraordinary move (15.36% to be precise) for a company that was asking $17.25 just last week.
Coles did go ex-dividend today, which wouldn't be helping the share price. But I still think Coles is looking very attractive at the current levels. You'll be locking in a trailing dividend yield of 3.68% (or 5.26% grossed-up), which isn't too bad at all, in my view.
