The stock market is recovering with cash flow returning to some leading industry groups, but there is still certain caution. After a sharp decline on February 17, the VN-Index quickly increased quite well in yesterday's session (February 18) with liquidity remaining at a high level. The volume of matched orders exceeded (+23.4%) compared to the 20-session average, showing that participating cash flow is still high.
The negative point is that the VN-Index closed and could not maintain its highest level (1,583 points) due to profit-taking pressure at 1,280 points. The upward trend continued to consolidate after the recovery upward trend on February 18, but it is still not ruled out the possibility of an adjustment to the support level of 1,270 points.
Selling pressure from foreign investors cooled down with net selling value decreasing by nearly 80%, while the volume had switched to net buying in the recovery session on February 18.
During the period of sideways accumulation, the VN-Index remains above important moving averages, while price fluctuations gradually decrease and liquidity weakens, showing that the market is more balanced after a period of strong fluctuations.
Notably, despite foreign capital continuing to withdraw net, domestic investors - currently accounting for about 90% of liquidity - are leading the market trend. In addition, Vietnam has not yet become a target of US tariff measures, creating a bright spot, although it still needs to monitor risks in the long term.
Commenting on the market trend in the coming sessions, Yuanta Securities Company believes that the market may continue to increase in the next session and expects the VN-Index to soon surpass the resistance level of 1,280 points. The short-term trend of the general market remains upward. Yuanta recommends that investors can continue to hold a high proportion of stocks in the portfolio and that the structure from stocks that have increased strongly to new stocks can begin to confirm the uptrend.
Meanwhile, SHS Securities Company commented that the short-term trend of VN-Index still maintains growth in the support zone around 1,260 points. Continue towards the 1,280-1,300 point area. However, like in previous periods, the market is always under strong selling pressure and differentiation when the VN-Index faces this strong resistance zone. The developments are still relatively positive, showing that cash flow is still proactive and rotating in the market. In the short term, the market has differentiated quite positively, SHS does not recommend buying and increasing the proportion when the VN-Index is at 1,280-1,300, because this is not a reasonable price range. The market is also clearly differentiated in this price range.
Investors assess the 1,300-point mark as continuing to be an important resistance level of the VN-Index for more than two years, when the market has repeatedly approached but could not break out. However, the current context has a number of different factors that can support the index to get closer to this mark.
Currently, the domestic macro situation is partly affected by external factors. For the VN-Index to reach and surpass the 1,300-point mark, the market needs strong supporting factors in terms of macro, cash flow and investor psychology. Unpredictable international financial fluctuations are also a factor that significantly affects international investment flows into the domestic market.
A positive point is that domestic macro activities maintain good stability, which is a positive point supporting the market in the medium term. Investors can focus on each business with potential to be more effective according to market waves or fluctuations in the VN-Index.
