The VN-Index recorded its first recovery session after the correction sessions yesterday, October 9, accumulating around the 1,270 point area.This shows that this is a reliable support zone for the market.
In fact, after the news of the Fed's sharp interest rate cut, the profit story of many listed companies in the third quarter of 2024 is forecast to grow positively compared to the same period.This is an important support for the stock market during this period.
This helps many stocks recover strongly, in the face of external variables such as escalating geopolitical tensions in the Middle East, world gold prices continuing to record new records...
In terms of profit prospects, listed companies on SSI Research's watch list are forecast to increase by 15.5% in 2024 and continue to increase by 19.6% in 2025.
Profit growth will continue to expand across many sectors.Profit growth over the same period could reach 21.7% in the second half of 2024, accelerating significantly from only 6.2% in the first half of the year.
Currently, the VN-Index is approaching a strong resistance zone around 1,300 points and profit-taking activities will certainly increase.Therefore, many opinions still believe that investors need to control their emotions and balance their investment portfolios, avoiding FOMO psychology for stocks that have increased sharply.
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, said that investors should wait for the market to confirm the trend when testing the resistance zone of 1,300 points before opening new buying positions and increasing investment proportions.
Experts from Rong Viet Securities Company (VSC) commented that the current bullish signal could help the market move towards and retest supply in the 1,285 - 1,290 point range.
However, the supply pressure in this area is expected to be quite large, which may cause conflicting impacts on the market.Therefore, investors need to observe the supply and demand developments in the resistance area to assess the market status.Currently, priority should be given to stocks with good cash flow signals from the support base and consider a recovery period to restructure the portfolio in a way that minimizes risks.
CSI Securities Company also has the view that, because there is no confirmation of a trend reversal signal, it is necessary to continue to prioritize caution, limit additional purchases and only increase the proportion of stocks purchased at 1,280 points last week and have made a profit.
"Investors can increase their holdings with the mentality of avoiding chasing stocks; they should focus on stocks with good fundamentals and positive second-quarter business results.We maintain a positive view on the medium- and long-term market outlook, but investors should pay attention to potential risks that may come from negative information from the US stock market in the coming time.
Therefore, it is necessary to closely observe world markets to confirm how long the upward trend can continue," experts from Asean Securities Company gave their opinion.
