VN-Index continued to record a session of shaking and decreasing points with correction pressure covering a wide area.
At the end of the session on August 15, VN-Index fluctuated strongly in the derivatives expiration session. At the end of the session, VN-Index decreased by 6.8 points, equivalent to 0.55%, to 1,223.56. In the same direction, Hnx-Index decreased by 1.14 points, equivalent to 0.5%, to 228.54 points.
It is forecasted that VN-Index will likely recover at the beginning of the trading session.
(Bao Viet Securities Joint Stock Company – BVSC)
“The VN-Index continued to correct today, after an unsuccessful attempt to approach the MA20 line early in the morning. The positive point is that on the intraday chart, the momentum indicators have all dropped to the oversold zone and are trending up again. Therefore, we believe that the index may recover early in tomorrow's trading session.
Investors maintain holding positions in the portfolio and can consider selling partial profits when VN-Index approaches the resistance zone of 1245-1255 points.
For trading activities, investors can consider opening a buy position when the market experiences strong fluctuations during the session, but should balance the disbursement ratio to suit their risk appetite.
VN-Index currently still cannot surpass the 1,230-1,235 zone.
(Bank for Investment and Development Securities Joint Stock Company of Vietnam – BSC)
“The VN-Index fell nearly 7 points today and closed at 1,223.56. Market breadth was negative with 18/18 sectors losing points, of which the Chemicals sector led the decline, followed by the Insurance, Utilities, Basic Resources sectors…
Regarding foreign transactions, today this group net bought on both HSX and HNX. VN-Index has not yet been able to surpass the upper limit of the downtrend channel (1,230-1,235). Investors should trade cautiously in the coming sessions.
The short-term trend of VN-Index has not yet escaped the long-term downtrend line.
(Saigon – Hanoi Securities Joint Stock Company – SHS)
At the end of the session, VN-Index decreased by -6.8 points to 1,223.56, below the current nearest resistance zone of 1,230 points, corresponding to the average price line of 20 sessions. The trading volume of VN-Index in today's session decreased by -2.5%, reaching only about 70% at the average level. The market breadth was 220 stocks decreasing and 87 stocks increasing, showing that selling pressure was quite overwhelming in today's session.
The short-term trend of VN-Index has not yet escaped the extended downtrend line connecting the peaks from July 2024 and August 2024. VN-Index is still under pressure to correct and retest the strong support zone of 1,200 points, corresponding to the low price zone of the strong decline sessions on August 8, 2024.
In the positive case, the short-term trend of VN-Index can only improve when it surpasses the 20-session average price line but with good liquidity improvement, as well as surpassing the current short-term downtrend line (as shown in the figure).
In the short term, the market is in an information vacuum. Short- and medium-term investors should maintain a reasonable weighting, and consider restructuring their portfolios with stocks that are weaker than the general market if any. In cases where the increase exceeds the average, they should wait for the VN-Index to escape the long-term accumulation trend and the current short-term downtrend.
Lack of bottom-fishing cash flow and support from pillar stocks may cause VN-Index to continue its short-term downtrend.
(KB Securities Vietnam Joint Stock Company – KBSV)
“With the VN-Index closing near the session low, the index is forming an “Evening star” candlestick pattern, leaving open the risk of a reversal that is increasing. Although the widening decline in the session did not trigger panic selling, the lack of bottom-fishing cash flow and support from pillar stocks could cause the VN-Index to continue its short-term downtrend.
Investors are recommended to spread out sell orders, reduce portfolio weight to a safe level during early recovery periods, and only spread out buy orders to partially restore trading weight when the index/stock falls back to the corresponding support level.
VN-Index may retest 1,230 level
(Yuanta Securities Vietnam Company – YSVN)
“We believe that the market may recover in the next session and the VN-Index may retest the 20-session moving average (ie 1,230 points). At the same time, the market is still in a short-term accumulation phase, so liquidity remains low and stocks are diverging. In addition, the short-term sentiment indicator has decreased slightly, showing that investors are more cautious as the indices approach short-term resistance levels.
The short-term trend of the general market remains bearish. Therefore, we recommend that investors continue to hold a low proportion of stocks and consider buying new stocks with a low proportion.
Source: VnEconomy
