In the trading session on June 29, VN-Index decreased in the context that order matching liquidity continued to be below the average level. Notably, the adjustment was mostly due to the influence of the VIC and VHM groups while the market breadth was still positive.
Although VN-Index closed down, it is still a positive signal that has appeared when the increased cash flow has spread and flowed into other stock groups. The minus point is that liquidity has not exploded strongly to confirm an optimistic signal for buying positions to return.
The stock market is forecast to move to the third quarter of 2026 with new expectations such as GDP growth in the second quarter of 2026 and the year-end plan at a high level; inflation and interest rates cooling down; medium and long-term credit improving alongside business results of enterprises...
However, this is not an attractive valuation zone for the market. In the current context, regarding the market trend in the next session, Saigon - Hanoi Securities Company (SHS) believes that in the short term, VN-Index will accumulate below a very strong resistance zone, the historical peak of 1,900-1,930 points. This is the peak zone that the market has adjusted strongly in January, February and May 2026.
SHS Securities Company assesses that the market needs to have outstanding growth momentum to expect to overcome this old peak area. Currently, SHS has not forecast that VN-Index may overcome it. Accordingly, the index is under adjustment pressure to around 1,850 points. In less positive cases, if VN-Index does not maintain the support level of 1,850 points, it may even be under adjustment pressure to retest the price range of 1,880-1,830 points.
SHS Securities Company recommends that investors re-evaluate their portfolios after 6 months of 2026.Analysts note that investors should update basic factors and business results of enterprises to have a portfolio restructuring plan and assess new investment opportunities if any.
From the perspective of Asean Securities Company experts, VN-Index closed at 1,855 points, maintaining above the MA10 and MA20 lines, while the market breadth leaned towards green when the number of gainers was dominant, showing that cash flow is still present and continuing to differentiate into groups of stocks with their own story.The market is likely to continue to struggle in a narrow range at the beginning of the next session, but the risk of deep decline is not too large if the support zone of 1,850-1,860 points continues to be maintained.
Asean Securities Company recommends that short-term investors can maintain a moderate proportion, limit chasing purchases at strong recovery phases and prioritize trading in the support zone of 1,850-1,860 points, resistance of 1,870-1,880 points. Cash flow should be focused on stock groups with their own story such as state capital divestment, market upgrades and economic development resolutions. For medium and long-term investors, support adjustments can still be seen as opportunities for partial disbursement into industry groups with good fundamentals and high liquidity such as banking, securities, retail and public investment.
Kafi Securities Company also expressed the view that, in the short term, VN-Index is likely to continue to struggle to test supply and demand, with a support zone near 1,850 points and stronger at 1,810 points.In the context of market differentiation and index developments heavily dependent on some large stock groups, investors should prioritize portfolio management rather than price fluctuations, maintain a moderate proportion, continue to hold stocks that still maintain positive trends and take advantage of fluctuations to restructure or accumulate selectively.
