As expected, the market in the last trading session of the old year to prepare for the new year was quite gloomy.
Investors mainly stood on the sidelines and watched, causing the VN-Index to fluctuate below the reference level as red dominated the electronic board.
Foreign investors remained active in the correction reversal session on December 30, continuing to net buy nearly VND400 billion, with the focus on buying and selling bank stocks.
Yesterday's early decline had low volume so it did not change the previously formed trend.
Although the market only has a few hot spots and most of the transactions are quite gloomy, with the alternating movements of banking stocks in recent sessions, investors expect the market to soon welcome the return of the king stocks.
Commenting on the stock market trend in the last trading session of 2024, experts from UP Securities Company (UPSC) said that the decrease in market liquidity shows that cash flow is not ready to return strongly, although bottom-fishing demand at the end of the session has appeared.
The market is still in a tug-of-war state and is likely to continue to adjust around the support zone of 1,270 points in the short term.
The market is moving in a narrow range, with support at 1,265-1,270 points and resistance near 1,280-1,285 points.
The market's ability to recover depends on whether liquidity improves and domestic cash flow continues to be maintained, experts from UP Securities Company said.
SHS Securities Company expressed its opinion that the short-term trend of VN-Index is growing at the support zone of 1,265 points, corresponding to the average price of 200 sessions.
The index is facing the nearest resistance zone of 1,280 points and may be under pressure to adjust and accumulate before it can overcome.
The next very strong resistance is the 1,300 point price zone. This is still a very strong resistance, the peak zone of March-July 2024 and September-October 2024 from the beginning of the year until now.
Recommendations for investors, according to experts from Asean Securities Company, macroeconomic factors are tending to gradually stabilize in the short and medium term.
However, investors need to continue to observe the above macro indicators and only disburse more heavily when the trend has clearly formed for exchange rates, market liquidity, trading psychology and economic growth prospects.
At the same time, closely monitor global market developments to prevent strong fluctuations in the US stock market from affecting domestic market sentiment.
"In the long term, a decrease in DXY will still be an inevitable trend in an environment of loose monetary policy, and capital flows will gradually return to emerging and high-potential investment markets like Vietnam.
We appreciate the market prospects in the medium and long term, investors should focus on stocks with good fundamentals, positive business prospects and strong growth in line with the development of the economy," said experts from Asean Securities Company.
