Profit-taking pressure increased after 3 sessions of increase, causing VN-Index to close yesterday's trading session (December 10) with a slight decrease. Liquidity decreased compared to the previous 3 sessions and the matched volume was lower than the average of 20 sessions.
The decrease amplitude was not large and liquidity decreased, so yesterday's decrease did not have enough momentum to change the previously formed trend.
Foreign investors also had a not-so-bustling trading day. In the whole market, on December 10, foreign investors net sold 7.39 million units, with a total net selling value of only VND 0.8 billion. Meanwhile, in the first trading session of the week on December 9, they net sold 1.23 million units, with a total net selling value of VND 488.41 billion.
VN-Index slowed down its upward momentum with a slight decrease and trading volume below the 20-day average. This shows that investors are starting to be cautious again. During this period, the differentiation between industry groups continues to be a prominent factor.
Currently, the VN-Index's bottom 1 zone can also be considered an "oversold" zone and the increasing selling pressure in this zone makes it easy for the market to return to the equilibrium point around 1,240, 1,250, 1,260 points.
This can also be considered as the market's cumulative support zone before bouncing up, towards the 1,280-1,300 point mark in the remaining time of December. There may not be a clear second bottom zone, but only fluctuating within a narrow range, accumulating before continuing to increase.
Analysts from VCBS Securities Company said that the market continues to move sideways and accumulate at high prices with low liquidity, showing that short-term profit-taking supply is not much and is still being actively absorbed.
The general trend of VN-Index is stably consolidating and will likely continue to move up towards higher scores.
VCBS recommends that investors take advantage of fluctuations in the next sessions to disburse at good prices for stocks that are showing signs of rebounding from the support zone with increased demand and liquidity.
Analysts from Asean Securities Company also commented that the market may have a few sessions of slight fluctuations when it meets the resistance zone of 1,270 points again, investors should manage their portfolios carefully. At the same time, continue to observe fluctuations in exchange rate factors and the world market to manage short-term risks.
“We still have a good assessment of the overall market outlook. Investors should focus on long-term investment stocks with solid fundamentals and positive business prospects. Consider disbursing when stocks have attractive valuations and the market shows signs of confirming a clear growth trend along with trading volume,” Asean experts said.
