According to Yuanta, the market is showing signs of entering a short-term accumulation phase, so the market may continue to fluctuate sideways within a narrow range in the coming trading sessions.
Entering short-term accumulation zone
Yuanta Vietnam Securities Company (Yuanta): The market may continue to increase in the first session of the week with liquidity remaining low and the VN-Index may still fluctuate in the range of 1,090 - 1,115 points in the first trading sessions of the week.
At the same time, the market is showing signs of entering a short-term accumulation phase, so the market may continue to fluctuate sideways within a narrow range in the coming trading sessions. In addition, the short-term sentiment indicator continues to decrease, showing that investors are still cautious about the current market developments.
The short-term trend of the general market remains neutral. Therefore, short-term investors can continue to hold a high proportion of stocks and temporarily stop buying at the current stage. At the same time, investors can take advantage of the uptrend to reduce the leverage ratio to a safe level, but limit selling off during downtrends.
Resistance test 1,118
Vietcap Securities: It is forecasted that in the session of November 27, the market will likely maintain its recovery momentum so that the VN-Index can retest the MA5 resistance at 1,100 points and MA10 at 1,105 points.
If buying power at high prices continues to improve, VN-Index will continue to test the more important resistance at 1,118 points of the MA50 and MA200-day pair. Conversely, if buying power shows weak momentum at high prices, VN-Index will retreat from the resistance of 1,100-1,105 points to retest the MA20 support at 1,085 points.
The risk of extending the correction is overwhelming.
KB Securities Vietnam (KBSV): The medium-term downtrend is still playing a dominant role, the risk of VN-Index's correction expanding in the coming sessions is still somewhat dominant.
VN-Index retests 1,100 points
Saigon – Hanoi Securities Company (SHS): The market is moving loosely in the short term but there is still momentum to increase points because this is the first recovery after a sharp decline, so the momentum for short-term recovery is often large. VN-Index is retesting the support level of 1,100 points and if successful, short-term investors can disburse into stocks that attract cash flow but with a cautious view because the technical recovery can end at any time. In the medium and long term, although the market loses its uptrend, it will find a new balance point and accumulate again, so the medium and long-term risk is not high.
Tug of war at 1,100 – 1,110 points
BIDV Securities Company (BSC): Bottom-fishing demand appears in the 1,075 – 1,080 range. In the coming sessions, VN-Index may move up and down in the 1,100 – 1,110 range.
