Investors entered today's session on September 11 with a rather tense mentality after previous strong adjustment sessions, combined with the weakening of cash flow. Supply pressure caused the power board to sink into red at the time the market had just opened. There was a time when the VN-Index lost more than 30 points and retreated to the 1,600-point mark.
However, when bottom-fishing demand participated strongly, the stock market had a spectacular reversal towards the end of the session, the VN-Index surpassed the reference and increased by more than 14 points thanks to the push from large-cap stocks.
At the end of today's session, the VN-Index increased by nearly 14.5 points, equivalent to 0.88%, to 1,657.7 points. However, the HoSE electricity board is quite balanced with 163 codes increased compared to 152 codes decreased. Liquidity in today's session improved sharply with 1.27 billion shares matched, equivalent to a trading value of more than VND 36,300 billion.
For foreign investors, although maintaining a status of disbursement on the HoSE floor, the net selling value today is only over VND 1,000 billion, compared to yesterday's session of nearly VND 3,000 billion.
The market's support today is due to the rising stocks from the Vingroup duo. According to statistics, only the two codes VIC and VHM contributed 8.9 points to the VN-Index. In particular, Vingroup's VIC shares became the focus of attention when they skyrocketed by 3.9%, climbing to VND136,000/share, thereby setting a new price peak in the listing history. capitalization reached approximately VND 526,000 billion (USD 20.2 billion).
Codes and ecosystems also increased in price simultaneously, in which VHM increased by 4% and is also trading at a historical peak, while VRE also increased by nearly 2%. VIC's strong increase has helped Mr. Pham Nhat Vuong's assets (Chairman of Vingroup) continue to increase strongly.
It is estimated that the amount of VIC shares Mr. Vuong directly held increased by nearly 2,300 billion in one day. The assets of Vingroup Chairman on the Vietnamese stock exchange (including direct and indirect ownership) are currently at about VND 296,500 billion - a record figure and far exceeding the rest of the list of the richest people on the Vietnamese stock exchange.
Assessing the market trend in the current period, analysts from ABS Securities Company found that the risk of adjusted short-term for short-term transactions is relatively high.
The market needs to end this correction to be able to increase again. This process will be the next opportunity for stocks that are in an accumulation model or have not increased much.
Entering September, ABS has released 2 forecast scenarios for the market. Scenario 1, the upward medium-term trend is continuing to synchronize on all monthly trend levels.
The price increase scenario is confirmed when the price signal maintains the support level 1 (1,585 - 1,600 points) and the support level 2 (1,5477 - 1,490 points), the market expects to increase to the price areas at resistance level 2 (1,540 - 1,794 points) and resistance level 3 (1,513 - 1,820 points).
Scenario 2 is the possibility of a deeper market adjustment after prices have increased too strongly in the past 5 months, considered when prices above the weekly framework do not keep the support level of 1,586 - 1,600 points.
When the market confirmed to close below the short-term average line, stocks in the account broke through the average line... it is a technical signal confirming the adjustment.
"Investors should lower their short-term position for stocks, and move cash flow to new stock classes. Medium-term investors continue to hold and seek opportunities to increase volumes when there is an adjustment," ABS experts recommend.
