According to Shinhan Securities, the market will likely accumulate in the 1,020 - 1,100 range for a while to be able to completely break out of the 1,100 resistance zone corresponding to the 200 MA. Currently, the market's wave structure is still in a downtrend when the following peaks and troughs are still lower than the previous peaks and troughs.
Continued tug of war
BIDV Securities Company (HM:BID) (BSC): The VN-Index's tug-of-war trend may continue in the next few sessions as the index has advanced to the SMA200 zone. After accumulating enough, the index may continue to increase to the resistance level of 1,155.
Technical shakeout for short term recovery
Phu Hung Securities Company (PHS): In general, the market is in a technical shake-up to reinforce the short-term recovery trend. Therefore, investors can take advantage of the shake-up to restructure their short-term positions. In particular, prioritize stocks with good fundamentals, expected business growth and attracting strong cash flow.
Testing resistance 1,115
Vietcap Securities: Forecast for the session of November 13, VN-Index may test and have a certain recovery from MA5 support at 1,100 points with MA200 resistance at 1,115 points. However, if the buying force shows weak momentum in the recovery phase, the index may decrease again afterwards.
If the 1,100 point mark is breached, the VN-Index will continue to retreat to lower short-term supports, the MA10 and MA20 lines at 1,080-1,085 points before further reactions when buying power is boosted.
Near term support at 1.085
Vietnam Foreign Trade Bank Securities Company (VCBS): From a technical perspective, the selling pressure at the end of the afternoon session on November 10 caused the VN-Index to continue forming an Inverted Hammer candlestick, retreating close to the 1,100 area. Looking at the hourly chart, the two indicators MACD and RSI have both peaked and gradually weakened, showing that the buying pressure is somewhat losing steam and cannot help the VN-Index continue to extend its uptrend. With the current developments, the market's nearest support level will be around the 1,085 area.
Need accumulation time to overcome resistance 1,100
Shinhan Securities Vietnam: VN-Index continued its second consecutive week of recovery, closing at 1,101.6 points (session 10/11) with improved liquidity. The market will likely accumulate in the 1,020-1,100 range for a while to be able to completely break out of the resistance zone of 1,100 corresponding to MA 200. Currently, the market's wave structure is still in a downtrend when the following peaks and troughs are still lower than the previous peaks and troughs.
In general, there are still short-term trading opportunities, but there is a large differentiation between many industry groups and the risk of loss is high. Investors should participate with a low proportion of stocks with tight enough accumulation.
Likely to fall to support zone
KB Securities Vietnam (KBSV): Increased profit-taking pressure around the resistance level near 1,120 has prevented the index's positive recovery momentum from being maintained until the end of the session. The fact that VN-Index has consecutive correction sessions with large liquidity is leaving open the risk of extending the decline to support zones, near around 1,085 and further around 1,055.
Investors are recommended to continue selling if the index recovers and once again approaches resistance zones.
