According to analysis by SHS Securities, after a week of adjustment pressure from the 1,800 point zone to around 1,270 points, the market continued to enter a correction state, accumulating in a narrow range with strongly reduced liquidity in the first sessions of the week.
Notably, the matched order volume on HOSE in the 20th session of August 2026 only reached about 340 million shares, showing that supply pressure decreased but demand is still cautious.
After a period of fluctuation, the market recovered strongly in the last session of the week with liquidity increasing quite suddenly. At the end of the week, VN-Index increased by 2.26%, to 1,768.12 points, still below the resistance zone around 1,780 points, corresponding to the 200-session average price range.
VN30 also increased by 2.72%, to 1,927.19 points and surpassed the psychological resistance level of 1,900 points.
Market breadth in the week leaned towards positive after the previous adjustment pressure. Except for the textile and seafood groups still decreasing points compared to the previous week, the remaining industry groups all increased in price.
In which, the energy group stood out before the divestment information and the sharp increase in oil prices. Besides, the information technology and securities groups before the upgrade expectation, along with the rubber, real estate, port... groups also had positive developments.
Liquidity in the week generally decreased, trading volume decreased slightly compared to the previous week. This development shows that supply pressure is low in the correction phase, while demand only improved clearly in the last session of the week, with cash flow increasing quite well.
Foreign investors continued to net sell in the week with a value of 2,660 billion VND on HOSE.
Regarding prospects, the short-term trend of VN-Index after a period of adjustment and accumulation is recovering and returning to the area around 1,800 points. However, this is still a strong and important resistance zone today.
Meanwhile, VN30 is returning to the resistance zone around 1,950 points, corresponding to the 200-session average price zone. To overcome these resistance zones, the market needs great momentum from fundamental factors and positive improvement in liquidity.
After a period of adjustment and 4 consecutive accumulation sessions in a narrow range, with supply and demand running out and liquidity decreasing to a low level, the market increased well in the last session of the week according to a positive scenario.
According to SHS's assessment, one of the main drivers of the market is the capitalization level that has become relatively reasonable after the adjustment period. Besides, there are double expectations from the upgrade process to emerging markets and state capital divestment activities.
Previously, this securities company had assessed the reasonable valuation zones of the market, and at the same time recommended that investors consider and assess opportunities at quality, leading enterprises, maintaining business results and growth.
However, investors are not recommended to spend money to chase buying as VN-Index continues to head towards the 1,800 point zone, as there are no forecasts that the index may surpass this resistance zone. Instead of increasing the proportion in the high price zone, the focus of the portfolio should be on businesses with good fundamentals, leading positions, maintaining growth and belonging to strategic sectors that are likely to benefit from the growth momentum of the economy.
