Entering the trading session on January 14, the bluechip stock group continued to be the main driving force helping the market maintain green color when opening.
However, increased pressure after 3 sessions of increasing points to a new peak area quickly caused the market to quickly shift to a differentiated state and VN-Index turned to adjust.
At the close of the session on January 14, VN-Index decreased by 8.5 points, equivalent to 0.45%, to 1,894 points. Profit-taking selling pressure caused VN-Index to lose the 1,900-point mark.
However, this adjustment session is what many investors who hold cash are waiting for to have the opportunity to buy cheap stocks after the recent strong increase. That is the reason why HoSE floor liquidity soared to more than 46,000 billion VND, equivalent to 1.42 billion shares traded by investors in today's session.
If calculated on all 3 exchanges (HoSE, HNX and UPCoM), the total trading value of the entire market reached 50,300 billion VND. This is also the trading session with the highest liquidity in 4 months.
In today's session, foreign investors continued to maintain selling pressure on the HoSE with a net selling value of 465 billion VND. Accordingly, the Top 5 stocks that were sold the most were VHM, MSN, VRE, VJC and CTG. Conversely, foreign investors strongly bought codes such as VCB, SSI, FPT, VIC, HCM.
In today's session, Vingroup stock group was the group that put great pressure and caused the index to lose its upward momentum. In addition, the codes in the Top 5 that pulled down the index were 2 banking codes VPB and TCB.
VN-Index is entering a continued upward trend with strong momentum, after completing the re-accumulation phase and successfully breaking through the resistance zone of 1,800 points.
Accordingly, the 1,800 point mark is likely to play the role of the nearest support zone in the technical correction phases of the index. In the short term, the expected target of VN-Index is determined around the 2,000 point zone.
However, investors need to pay attention to the potential resistance zone around 1,900 points, where profit-taking pressure may appear and cause the index to adjust.
Adjustments, if they occur before VN-Index approaches the target zone, can be considered an opportunity to increase the proportion, provided that the index continues to maintain the support level of 1,800 points.
Investors are recommended to gradually take profits for the group of leading state-owned enterprise stocks when VN-Index enters the resistance zone of 1,900 points. For weak stock groups such as securities and residential real estate, investors can take advantage of technical recovery phases to restructure their portfolios to leading stock groups. In case stocks continue to weaken or lose the price base, investors should be cautious, narrow their portfolios and bring the proportion of stocks/cash back to a safe level.
