VN-Index recorded its second consecutive recovery session with matched order volume maintained at an average of 20 sessions. Cash flow distributed to the group of gaining stocks continues to completely prevail over the group of declining stocks, showing that more optimistic signals are gradually gaining the upper hand.
The highlight is that the most sensitive stock to the market is the securities group, which is having positive developments in the last two sessions, early signaling for the general market recovery.
However, many opinions believe that VN-Index needs to continue to maintain the upward signal, surpass the resistance level of 1,820-1,830 points with increased liquidity, exceeding the 20-session average, then the reversal signal will be clearer.
According to the analysis of Beta Securities Company (CTCK), from a technical perspective, the short-term correction trend of VN-Index is still valid, some cash flow indicators give positive signals, and at the same time many other factors maintain positive signals, creating expectations that the strength of the short-term downtrend is decreasing and shifting to the accumulation phase, opening up recovery opportunities. Currently, the 1,740-1,760 point zone will play a supporting role for VN-Index.
In the coming sessions, there will be some events such as the maturity trading day of derivatives, concurrently with the restructuring period of VNM ETF, so short-term unpredictable fluctuations will easily appear.
Therefore, Beta Securities Company recommends that investors should still be cautious in short-term transactions, limit emotional trading and avoid chasing after stocks showing signs of hot increase, and at the same time control risks in using leverage.
For medium and long-term investors, they can still consider taking advantage of short-term correction fluctuations to consider accumulating stocks of businesses with solid fundamentals and clear growth prospects.
Agreeing with this view, TPS Securities Company also believes that the medium and long-term trend of VN-Index is still maintained as the index continues to move on important support zones. At the same time, surpassing the short-term downtrend line shows that adjustment pressure has shown signs of weakening, thereby improving the market's movement prospects in the coming time.
Accordingly, TPS believes that VN-Index is facing the opportunity to end the short-term correction phase after completing the process of finding balance points. If cash flow continues to improve, the index is likely to return to an upward trend step by step instead of a strong breakthrough. In a positive scenario, VN-Index may head towards the resistance zone near 1,840 points in the near future.
From a cautious perspective, ACB Securities Company believes that the VN-Index continues to maintain its recovery momentum and closes again above the 1,800 point mark, in the context that the fluctuation range has narrowed significantly compared to previous sessions. This development shows that short-term selling pressure has somewhat decreased, helping the market temporarily stabilize after a period of strong fluctuations.
However, liquidity is still maintained at a low level, reflecting the cautious sentiment of investors and showing that demand is not really strong enough to create a sustainable upward momentum. The positive point lies in the spread of cash flow when buying power appears in many different industry groups, instead of only focusing on a few large-cap stocks as in previous sessions.
However, according to ACB Securities Company's point of view, the short-term trend has not really improved as adjustment pressure in general is still dominant and the cash flow participating in the current recovery is still quite cautious. In the near future, VN-Index is likely to continue to be under pressure to fluctuate and may retreat to test the important support zone around 1,750 points, corresponding to the 200-day MA line.
