Market commentary on August 14: Entering a new uptrend

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  • BVSC forecasts that the VN-Index will continue to increase in the last session of the week.
  • BSC believes that the VN-Index will continue to rise and proceed to test the resistance level at 860 points.
Securities companies Positive Neutral Negative
BVSC X
SHS X
VDSC X
MBS X
BSC X
YSVN X
MASVN X

Continue to increase points – (Bao Viet Securities Company – BVSC)

VN-Index is forecasted to continue increasing in the last session of the week. The shaking pressure might appear in the next session when the index fluctuates within the resistant level of 852-858 points, however, on the overall trend, BVSC still expects that the index will prolong the current gaining trend. at the next destination at the 876-883 resistance zone in the short term. Market movements will still have a strong differentiation according to each individual story of listed companies and cash flow will alternately move into stock groups to seek profits. Besides, information about the ability of countries to successfully produce vaccines against Covid-19 will be supporting factors for the market in the coming time.

Investors should maintain the proportion of the portfolio at 50-65% of shares, perhaps consider selling a part of short-term position when the index approaches the BVSC resistances mentioned above. Investors continue to take advantage of market corrections to open short-term long positions or repurchase a portion of sold positions.

Continue to increase points – (Saigon-Hanoi Securities Company – SHS)

It is forecasted that in the last session of the week, August 14, VN-Index might continue to rise with the next resistance around 875 points (MA200). Investors who disbursed to catch at the bottom in the previous drop and took profit in recent sessions should temporarily stand outside and observe the market in the next sessions.

The trend is still gradually going up – (Rong Viet Securities Company – VDSC)

The VN-Index was still in an uptrend and the gain extended after 5 slow gaining sessions. VN-Index overcame the resistance zone of 850 points and moved to the resistance zone of 855 points. The market continues to be challenged in this area but in general the market’s trend is still going up. Therefore, investors continue to keep their portfolio stable and observe the market.

Entering a new upside wave – (MB Securities Company – MBS)

The market is expected to enter a new uptrend when it broke the state of trading in a narrow band since the beginning of the week, the market’s liquidity has also gradually improved and market breadth is very positive.

Continue to increase – (BIDV Securities Company – BSC)

The market liquidity did not change much from the previous session, the market breadth was in a positive state, showing that the optimistic trading sentiment is being maintained quite well. According to BSC’s assessment, the VN-Index surpassed the EMA12 and EMA26 and most of the indicators were positive, it is likely that the VN-Index will continue to rise and move to test the resistance level at 860 pts.

Pulling – (Yuanta Securities Vietnam – YSVN)

YSVN believes that the market might still struggle around the 50-day average with increasing volume. At the same time, the market is still in the accumulation phase, so the chase buying strategy will have high risks and should prioritize accumulating stocks at corrections. In addition, the short-term sentiment remains more optimistic showing that risks remain low.

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VN-Index has successfully conquered the level of 850, in the short term, corrections may appear to test the gap of price increase at the 847 –850 zone, but MASVN thinks that VN-Index is in an uptrend and target is 870. Stocks benefiting from public investment prospects such as construction stone, asphalt, steel, construction and real estate are receiving the attention of cash flow. The short term technical score is at +7 (positive).

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

Source: NDH

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