The stock market had a bright trading session on the day the US Presidential election results were announced yesterday, November 6, when the VN-Index jumped more than 15 points, surpassing the 1,260-point mark. The total trading volume reached more than 566.9 million units, worth VND14,185.5 billion.
Amidst the optimistic market on November 6, the net selling trend of foreign investors continued. This was also the 19th consecutive day that this group sold net. While domestic cash flow provided good support, helping the market have the strongest increase in about 1.5 months, foreign investors continued to sell net more than 450 billion VND with the main focus still on MSN and VHM.
The VN-Index opened a gap up, expanding its upward momentum towards the end of the session, showing that the accumulation momentum has returned. The strong bounce signal from some leading groups, along with the breadth tilted entirely towards the number of stocks gaining points, also shows the market's recovery momentum.
However, many forecasts say that the index will soon encounter resistance pressure from the resistance zone around 1,270 points in the next few sessions and this is also the barrier that needs to be overcome to regain the short-term uptrend. The main reason is that market liquidity has improved compared to recent sessions, but the matching volume has not yet exploded to confirm.
Analysts from CSI Securities Company recommend that investors should be cautious to avoid FOMO buying, wait for the correction phase for VN-Index to retest the support level of 1,250 points to open new buying positions, prioritizing industrial real estate stocks that are benefiting.
Sharing the same cautious viewpoint, VCBS experts also recommend that investors consider taking short-term profits on stocks that have reached their targets and have signs of shaking at the top and switch to stocks that are attracting impressive demand or have a rebound momentum from the base after a long period of deep correction.
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, said that the stock market is accumulating and fluctuating in a narrow price channel, so the effective trading strategy at this stage is to wait to buy stocks with high-quality fundamentals during corrections to reasonable and cheap valuations, then patiently hold and wait for strong increases to take profits. The criteria for selecting investment stocks, according to Mr. Phuong, are first, leading enterprises with strong competitive advantages; second, healthy financial health; third, there is a story of profit growth in 2025; fourth, attractive valuations.
Forecasting the stock market trend in the coming time, many analysts said that the short-term trend of VN-Index has recovered positively, improving the trend when surpassing the resistance zone around 1,250 points, the 200-session average as well as the peak price in 2023.
The mid-term trend of VN-Index is to grow above the support zone around 1,250 points, towards the 1,300 point zone. Of which, the 1,300 point zone is a very strong resistance zone.
