Vietnam Stock Market commentary on 7/8: Correcting again

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  • BVSC forecasts that the VN-Index – Vietnam Stock market will correct slightly in the last session of the week.
  • YSVN believes that the market can correct and trade around the 20-day average.
Securities Company Positive Neutral Negative

Slight adjustment – (Bao Viet Securities Company – BVSC)

VN-Index is expected to adjust slightly in the last session of the week. In general, the uptrend of the market is still maintained with the destination at 852-858 points. However, BVSC also noted that the market may experience short, technical and intertwined corrections during the rally. Market movements will have a strong differentiation according to each individual story of listed companies. The second quarter of business reporting has entered a recession period and no longer has much influence on the market. Besides, the market is getting used to the news about the Covid-19 epidemic, however, new developments in the Covid-19 translation will still be factors that can create risks to the market.

Investors should maintain the proportion of the portfolio at 50-65% of the stock. Investors continue to take advantage of market corrections in the next few sessions to open short-term long positions.

Adjust back – (Saigon-Hanoi Securities Company – SHS)

It is forecasted that, in the last trading session of August 7, VN-Index might correct again with profit-taking pressure around 840 points (MA20). Investors who disbursed for a part of the portfolio in the previous week may consider taking profit in the next session if the market continues to trade in the current price range or higher.

Clear distinction – (Rong Viet Securities Company – VDSC)

Thus, after a series of positive gains, there is always the phenomenon of short-term profit-taking of investors who participated in bottom fishing, significantly affecting the growth of the indices. This profit-taking has not stopped, but the market still has a clear differentiation when the number of advancers and decliners is almost equal. Investors can take advantage of the market’s corrections to choose stocks that have just flourished or take profits when they have certain results.

Continue towards the threshold of 854.5 points – (MB Securities Company – MBS)

After confirming the reversal pattern, technical indicators continue to support the uptrend of the market now. The market continues to move towards the MA50 resistance at 854.5 points. Medium-term and long-term investors are recommended to continue holding the portfolio and can take advantage of intraday corrections to accumulate more good fundamental stocks and positive growth prospects for the whole year after the translation. the disease is over.

Continue to fluctuate in a narrow range – (BIDV Securities Company – BSC)

The market liquidity decreased compared to the previous sessions, market breadth was negative, which showed that traders are skeptical about the index’s ability to continue to rally. With volatile market sentiment and declining cash flow, it is expected that in the last session of the week, VN-Index might continue fluctuating in a narrow range and still be able to retest the 825 point level.

Can be adjusted – (Yuanta Securities Vietnam – YSVN)

YSVN believes that the market can correct and trade around the 20-day average. At the same time, the market shows signs of entering the accumulation phase, so investors need to refrain from buying and chasing at strong increases, instead accumulate stocks at corrections. In addition, investor sentiment has been more balanced, showing that investors are gradually turning pessimistic to neutral.

Positive trend – (Mirae Asset Vietnam Securities Company – MASVN)

VN-Index had 5 consecutive gaining sessions with an increase of nearly 40 points, so profit-taking action appeared and put pressure on this index at 840. The liquidity today decreased compared to the previous session. however, maintaining the matched liquidity level of over 3,600 billion dong on the HoSE, is a positive signal for the cash flow. The movement of taking profit today can put more pressure on the VN-Index tomorrow, but MASVN still assesses positively for the market trend. The short term technical score has improved to +4 (positive).

Investors should only consider comments of securities companies as a source of reference information. Securities companies all recommend disclaimer for the above judgment.

Source: NDH

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