The stock market has just experienced a fairly positive trading week in early August when most industry groups recovered. However, with the diễn biến of quite weak cash flow participation and VN-Index approaching the strong resistance zone of 1,780-1,800 points, the market had slight corrections at the end of last week.
Entering the trading session on August 10, the focus of attention of the market was the securities stock group. If in the previous week, the securities stock group was one of the few that did not catch up with the general rhythm of the market due to selling pressure, then in this morning's trading session, demand is absorbing quite well, helping securities stocks trade brightly. Some securities stocks had impressive trading sessions such as: VIX increased by 2.57%, SSI increased by 2.66%, HCM increased by 2.37%, SHS increased by 2.56% and VND increased by 2.4%.
Closing the session on August 10, VN-Index increased by 8.71 points, equivalent to 0.49%, to 1,776.77 points. VN30-Index increased by 14.09 points, equivalent to 0.74%, to 1,925.18 points. Market liquidity reached only 17,725 billion VND. Foreign investors' transactions were a minus point when net selling about 281 billion VND of shares across the market.
The most positive contribution to the VN-Index was GAS stock when it brought back 2.88 points, followed by TCB contributing 2.65 points, GVR 1.88 points, VPB 1.5 points and MWG 0.65 points.
In the opposite direction, VIC was the code that put the biggest pressure when taking away up to 10.48 points of the index, VHM pulled down another 1.21 points and LPB lost 0.38 points.
After the recovery from the 1,650 point zone, VN-Index is entering the stage of testing the 1,780-1,800 point resistance zone. This is an important technical resistance zone when VN-Index approaches the MA50 line, and is also a noteworthy psychological threshold after a strong correction in July. Therefore, profit-taking pressure and volatile sessions are relatively normal developments.
In addition, the fact that liquidity has not improved commensurate with the recovery momentum shows that cash flow is cautious when approaching a strong resistance zone. VN-Index is likely not to be able to break through the 1,800 point mark in one to two sessions at the beginning of this week. Instead, the index may fluctuate and accumulate around the 1,770-1,800 point zone to absorb profit-taking supply and consolidate the price base.
When the index approached the 1,800 point zone, increased cautious sentiment slowed down the upward momentum and differentiation became clearer. However, selling pressure is still localized, not signaling reversal when liquidity has not increased sharply, market breadth is only weakening at a moderate level and the adjustment range is generally still low.
In the short term, VN-Index is likely to maintain a recovery trend, but the pressure of fluctuation and differentiation is expected to increase as the index approaches the 1,800 point zone to absorb profit-taking supply after the recent increase. The 1,750 point zone plays a near supporting role, while the area around 1,700 points is a further supporting zone if selling pressure increases sharply.
In the context that VN-Index is testing the 1,780-1,800 point zone, investors should prioritize observing cash flow developments rather than rushing to increase the proportion. Only disburse when stocks adjust to a reasonable price range and the general upward trend of the market is confirmed.
Regarding industry groups, banking and securities are expected to continue to play a leading role when VN-Index tests the 1,800 point mark.Real estate, public investment, infrastructure and large-cap stocks are also noteworthy when cash flow spreads.Investors should prioritize businesses with solid foundations, reasonable valuations and clear growth prospects, avoiding over-distribution.
