VCBS believes that if demand has not increased well, the market will continue to differentiate and trade sideways within a 10-point range.
Heading towards 1,250 zone if 1,130 is broken
Shinhan Securities Vietnam (SSV): VN-Index closed the week of November 27 - December 1 at 1,102.1 points on the weekly chart with decreased liquidity. During the week, the market traded quite dullly with low amplitude and liquidity.
The only positive point is that the support zone of 1,080 is holding quite firmly as there is always buying pressure in this zone. The momentum indicators on the weekly and daily charts are both in a good improving trend. If the market breaks through the 1,130 zone, a new uptrend will open towards the 1,250 zone.
Resistance test 1.103 – 1.108
Vietcap Securities: It is forecasted that in the session of December 4, the VN-Index will likely increase to test the resistance of MA20, MA50 at 1,103-1,108 points. If the buying force is strong enough to help the index overcome this threshold, the short-term technical signal will improve. On the contrary, the VN-Index will decrease again to test the support of MA5, MA10 at 1,095-1,100 points.
Not out of sideway state yet
Phu Hung Securities Company (PHS): The market has not escaped the sideways state in a narrow range after the increase on December 1. Therefore, investors should maintain a moderate proportion, and consider taking short-term trading positions on the available portfolio.
Continue to differentiate and struggle if demand does not increase
Vietnam Foreign Trade Bank Securities Company (VCBS): From a technical perspective, the VN-Index closed the session on December 1st still maintaining a good accumulation rhythm, closely following the MA20 moving average. Most indicators are still giving neutral signals, showing that the VN-Index will continue to accumulate, increasing and decreasing alternately.
With the current developments, VN-Index needs to have a positive increase, surpassing the Tenkan-sen line to be able to extend the new uptrend. On the contrary, if demand has not increased well, the market will continue to differentiate and trade sideways within a range of 10 points.
Correction pressure at 1,115 points
KB Securities Vietnam (KBSV): The downtrend is still playing a dominant role and the sellers are showing more determination at resistance zones, the index is likely to face significant correction pressure back around the resistance level near 1,115 (+/-5).
Investors are advised to avoid chasing buys in early recoveries and only place buy orders with small proportions around the support level near 1,065 (+/-10) and further at 1,000 (+/-15).
Alternate increase and decrease
BIDV Securities Company (BSC): Currently, VN-Index is at the convergence of many MA lines and has not yet confirmed a clear trend, however, the market is accumulating with a gradually narrowing range and VN-Index may continue to form alternating up and down levels before forming a new trend. Investors should trade cautiously in the coming sessions.
