Securities company's perspective: A correction may occur when VN-Index approaches the resistance zone of 1,370 - 1,380 points.


With the market gradually approaching a strong resistance area and the third quarter earnings announcement season is approaching, many securities companies believe that the market will find it difficult to break out strongly in the last session of the week and may face great challenges in the region. 1,370 - 1,380 points.


The session 7/10 took place with green color present on the indices. Accordingly, VN-Index closed up 3.17 points (0.23%) to 1,365.99 points, recording a series of 4 consecutive gaining sessions.

Market liquidity improved slightly with matched value on HoSE reaching VND 18,571 billion, up 7% compared to the previous session. The fact that the liquidity has not really broken through shows that investor sentiment is somewhat cautious at the moment. Foreign investors' trade was also less active as they continued to net sell nearly 630 billion dong in the whole market.

With the market gradually approaching a strong resistance area and the third quarter earnings announcement season is approaching, many securities companies believe that the market will find it difficult to break out strongly in the last session of the week and may face great challenges in the region. 1,370 - 1,380 points.


According to Agriseco Securities Company , in the short term, the market entered a rather unpredictable period when a Doji candle was formed, showing investors' hesitation. In the immediate future, the supply pressure around 1.370 - 1.380 will be quite large, so it is likely that the market will need a few more accumulation spans to create momentum to overcome the upper resistance zone.

With the macro situation expected to recover in Q4 and the inflation level still at low level, Agriseco Research believes that VN-Index will probably surpass 1,380 points in October. Cash flow will continue to find stocks. have positive profit expectations in the second half of the year such as real estate, industrial parks, seaports/logistics or groups benefiting from the opening of the economy, growth-promoting policies such as export and investment groups. public private. These are investment opportunities that can accumulate in the current period, the oil and gas group can take profits after increasing relatively quickly in the past period.

Also having a cautious view, Viet Rong Securities (VDSC) believes that the liquidity increased compared to the previous 2 sessions and reached the 50 session average, showing a dispute at the resistance area of ​​the market. In terms of VN30-Index, the performance was worse, both in terms of gain and liquidity. This shows that the market is diverging and the cash flow is looking for opportunities in individual stock groups.

With a cautious move at the resistance area of ​​the VN-Index, especially the VN30-Index, VDSC believes that the market will continue to be blocked and may retreat in the short term. Therefore, VDSC recommends that investors should observe the market and consider short-term risks, temporarily reduce the weight on stocks that are putting pressure on the portfolio. For stocks that are attracting cash flow, it is possible to hold and monitor or choose a good price to take short-term profits.

Similarly, Vietcombank Securities (VCBS) assessed that the index was still in an uptrend, but the intraday fluctuation range was gradually narrowing and the liquidity did not create a sudden change, showing signs of deceleration of the short-term rally. . With such developments, VCBS is inclined to see a correction in the coming sessions to retest the new support level around 1,350 points.

According to VCBS, investors can temporarily keep a high proportion of stocks and do not need to increase the proportion of cash in the portfolio. However, VCBS also noted that investors should still save a part of their buying power during this period to be ready to "catch up" if the general index shows a downward correction to retest the support level of 1,350. point.

VCBS expects that "pillar" stocks in a number of industry groups such as real estate and banking - financial services will continue to play the role of leading the general trend in the market during this period, and therefore should priority to closely monitor the movements of these stocks if looking for new disbursement opportunities in the coming sessions.

BIDV Securities (BSC) assessed with a slight increase in liquidity along with a narrow margin, showing that the uptrend is showing signs of weakening. BSC forecasts that VN-Index is likely to maintain its movement in the range of 1,350-1,370 points in the next trading sessions.

Meanwhile, SHS Securities assessed that the VN-Index had the 4th consecutive gaining session but the liquidity was low, showing that the market's sentiment is still cautious. However, with continuing to close above the psychological threshold of 1,350 points, the VN-Index has the opportunity to continue to move to higher price ranges with the next target being the resistance area of ​​1,375-1,380 points (the peak of the retracement wave). restore b). Foreign investors continued to be net sellers with nearly 600 billion dong on the two exchanges, partly creating pressure in session 7/10.

SHS forecasts that, in the last trading session of the week of October 8, VN-Index may continue to recover towards the next resistance area in the range of 1,375-1,380 points.

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