The VN-Index opened the new week with a strong increase, bringing the index above the resistance level of 1,750 points. Notably, unlike previous increases, cash flow has spread more positively and evenly in the following industries: banking, securities, real estate, industry, showing that investor sentiment is gradually improving significantly.
The market's upward momentum continued early in today's trading session (December 23) with the strong rebound of Vingroup stocks. However, the point that attracted investors' attention was the mixed developments of banking stocks.
At the end of the morning session of December 23, the HOSE floor had 123 stocks increasing and 171 stocks decreasing, the VN-Index increased by 19.59 points (+1.12%), to 1,770.62 points. The total trading volume reached more than 382.9 million units, worth VND 11,698.4 billion.
The pair VIC and VHM are still the main pillars supporting the index, with VIC +5.5% to VND 167,500 and VHM +3.8% to VND 111,500. Contributing a total of nearly 20 points to the VN-Index.
However, the point that attracted investors' attention in this morning's session was the differentiation of banking stocks. Of which, STB stood firm at the ceiling price of VND 56,000, matching more than 7.5 million units and the ceiling price of more than 7 million units. Meanwhile, LPB was the stock that fell the most in the group, losing more than 2.6% to 42,850 VND.
Information related to LPB is that Mr. Thuy's brothers (Mr. Nguyen Duc Thuy and Mr. Nguyen Van Thuy) withdrew from the Board of Directors of LPBank. In which, Mr. Thuy ceased to be Chairman of the Board of Directors, while Mr. Thuy ceased to hold the position of Vice Chairman of the Board of Directors. At the same time, LPBank's Board of Directors also approved the termination of the assignment of the duties of Deputy General Director to Ms. Nguyen Thi Kieu Anh according to personal wishes.
After a decided increase that surpassed important resistance levels, many investors are expecting a new price increase cycle.
When the market increases and recovers, most investors are optimistic and forget the previous difficult times. Indeed, the last 2 sessions have had many positive signals for the market when the sessions exploded in a momentum were confirmed, recording this increase as not only a technical recovery but also a longer increase, confirming the short-term bottom of the market and the bottom of some major stock lines such as banks and stocks.
With this trend, investors do not need to worry about a short technical hoi, however, it is too early to confirm that this is the beginning of a long-term Uptrend. In essence, the VN-Index has only created a bottom, and after the recent period of decline - reversal of trends, the VN-Index still needs more time to accumulate and increase again.
In addition, many pillar stocks, such as banks and securities, are still below the MA 10, 20 and 50 lines. Ahead, the most likely scenario for the VN-Index will be to return to re-inspect the old peak area (1,780-1.79x), and, this will be a fairly strong resistance zone for the VN-Index when the amount of goods stuck in the high price area in the previous period was quite large. Investors will need to wait and see the reaction of the VN-Index in this region to have a more accurate assessment.
