An impressive explosive session of the stock market in general and the VN-Index in particular on the last trading day of the lunar year with green present in almost all industry groups.
Not only that, liquidity also exploded, positively supporting the uptrend, when the matched volume exceeded the 20-session average. Cash flow unexpectedly shifted to bluechip stocks, while investors also took advantage of opportunities in many other industries, helping green cover the electronic board, thereby the VN-Index had a session of increasing more than 17 points.
Another positive point is that yesterday's increase helped VN-Index surpass the MA200 average line (1,259 points), a confirmation signal for the upward reversal that investors had expected. The negative point is that the increase at the end of the session narrowed somewhat before closing, but it shows that the important thing is that large cash flows have tended to enter the market.
Besides the positive contribution of domestic investors, foreign investors also had an exciting trading session and returned to net buying 170 billion VND in the strong increase session on January 23.
Thus, after many previous sessions of probing and waiting for confirmation signals, yesterday's trading session was a reliable sign with a high probability that the uptrend is returning.
Analysts at SHS Securities Company assessed that the short-term trend of VN-Index is quite positive, market sentiment has improved well when VN-Index maintained the support zone and surpassed the important resistance zone around 1,255 points, corresponding to the highest price in 2023 and the average price of 200 sessions. Thereby, opening up the prospect of returning to the price range of 1,280-1,300 points, the upper limit of the medium-term accumulation price channel of 1,200-1,300 points that lasted throughout 2024.
From a more cautious perspective, experts from KBSV Securities Company assessed that the VN-Index's performance has turned positive when there was a push for prices from the large-cap group. The demand with a stable pace throughout the trading session helped the green color spread across the market and the increase in points in the session on January 23 opened up opportunities to move further to the resistance zone. However, the risk of high-priced supply pushing out at the above resistance levels is still latent and the risk that the index may encounter profit-taking selling pressure should be noted as the last trading session before Tet approaches.
Asean Securities Company believes that the domestic stock market will continue to recover in the coming time, but investors should still be cautious as fluctuations are still the main trend in the last trading week of the lunar year. Therefore, investors can consider continuing to disburse in part with large stocks with positive fundamentals and business prospects, and have cash ready to establish a solid position when market liquidity is running out and valuations are very attractive.
