Reviewing last week's trading results, the stock market increased more than 33 points with positive results in 4 out of 5 sessions. The average trading value of the 3 exchanges reached nearly 19,900 billion VND/session, an increase of 18% compared to the previous week. Securities and real estate stocks are the leading groups in the recent period when continuously attracting cash flow.
After the explosive session on August 16, the recovery of VN-Index was maintained. The index broke through some resistance levels, approaching the major resistance level of 1,300 points. Liquidity improved significantly, proving that cash flow remained in the market and circulated actively. This is considered a good condition to create a favorable environment for short-term transactions.
However, although the market has increased quite strongly in recent days, many stocks still cannot return to the level when the Index reached the current point range. This shows the differentiation as well as the cash flow movement between industry groups, so the groups that have grown strongly in the first half of the year and the beginning of the third quarter may be less motivated than the industry groups still in the low price area. .
By remaining firmly above the 1,250 point threshold, the stock market has only confirmed that it has passed the previous negative period. VN-Index has failed many times to conquer the 1,300 point threshold , so when it once again approaches this strong resistance zone, selling pressure will certainly increase again.
Analysts from Agriseco Securities Company commented that the VN-Index has quickly recovered to the hard resistance area from the beginning of the year around 1,290-1,300 points, while overall liquidity has not recovered. Correspondingly, the appearance of short-term profit-taking pressure on the stocks mentioned above that have increased well is likely to happen this week. This is considered appropriate, because the widespread cash flow and accumulated sideways VN-Index will create a solid basis for the upcoming uptrend of the market.
Experts from KSI Securities Company also maintain the expectation that the current uptrend will take the VN-Index beyond the psychological mark of 1,300 points and towards resistance at 1,320-1,330 points in the coming weeks. At this point, investors are recommended to prioritize realizing profits from positions purchased at the threshold of 1,195 points two weeks ago.
Although the positive trend is quite strong, CSI experts do not recommend chasing buy positions, because the probability of a correction to the support area of 1,253-1,255 points next week is also likely to occur. Therefore, continue to maintain the existing portfolio and wait patiently to increase the proportion as well as open new buying positions when the general market adjusts to the above support zone.
Sharing the same view, experts from Asean Securities Company also commented that adjustment risks still exist in the short term when selling pressure has not decreased significantly to trigger stronger demand. At the same time, the trend of accumulation after the increase will continue in the next session. The momentum for a breakthrough depends largely on the leading role of the financial stocks group (banks, stocks...). Investors should keep a reasonable proportion and take profits to protect their results. A larger amplitude fluctuation (above the 1,260 point area) will be an opportunity to restructure the portfolio.
