The Vietnamese stock market witnessed 7 consecutive weeks of positive increases. However, experts have also begun to warn about the increasing profit-taking pressure at this stage.
Mr. Tran Hoang Son - Director of Market Strategy, VPBank Securities Joint Stock Company (VPBankS) - commented that in the acceleration phase, the group of large-cap stocks, pillars will be the main index pulling group. Meanwhile, Midcap and Penny stocks were "struggled" because these groups increased first, increasing early in the previous period.
When large-cap stocks increase, the market will tend to take profits from Midcap and Penny, returning to real estate stocks, banks, and securities. The increase may continue, but there will be differentiation, the increase of the index may not go hand in hand with the increase of the majority of stocks in the VN-Index basket but will be more selective, based on pillar stocks.
Experts analyzing SHS Securities Company believe that the short-term trend of VN-Index will maintain growth with the nearest support zone around 1,320 points, strong support of more than 1,300 points.
The VN-Index is heading towards the next price range around 1,350 points, as well as the VN30 is heading towards strong resistance of 1,400 - 1,420 points corresponding to the highest price range in May 2022.
Short-term selling pressure is increasing in this resistance zone after a period of consecutive price increases. However, market liquidity is still quite good, showing that demand in low prices is maintaining a good position. In the short term, this is not an attractive price zone to increase the investment proportion for many stocks. The market is still differentiating quite positively, with many short-term opportunities rotating in industry groups when the VN-Index surpasses the resistance of 1,300 points.
"Therefore, the market is increasing its search for short-term investment and speculation opportunities. The positions with increased proportion need to be carefully selected. Focus on good quality codes and short-term risk control. In case of high proportion, the portfolio is too expanded, it can be considered to reduce, the structure of the codes is weak," said experts from SHS.
From the perspective of Dr. Nguyen Duy Phuong - Director of Strategic Investment of DG Capital, the 1,300-point threshold is still an important psychological mark for investors and the market may have adjustments to re-evaluate this mark in the process of the accumulated VN-Index going up. Currently, the world macro context is having many uncertainties, especially related to the geopolitical situation and US tariff policies.
"The market still has quite good supporting information at this stage. Entering the 2025 business plan announcement season and annual general meeting documents. The growth profit plan is the driving force for many stocks to maintain positive developments.
Expectations that the stock market will be upgraded to emerging market status after FTSE's re-evaluation at the end of March will help the market maintain a positive state, Dr. Phuong shared his opinion.
