As the long holiday approaches, a wait-and-see mentality may be on the rise.
The stock market session on August 27 recorded a positive performance of Vingroup stocks, especially VIC stocks hitting the ceiling. The increase of Vingroup stocks spread to other real estate stocks, thereby helping the VN-Index reverse and increase again in the afternoon session to close up 0.04% to 1,280.56 points. Foreign transactions were a minus point when net selling with a value of nearly 260 billion VND on the whole market, continuing a series of 5 consecutive net selling sessions.
The market recorded a state of "green on the outside, red on the inside", many securities companies still believe that the increase may continue in the next session, however, investors still need to be cautious with the correction that may appear when the index approaches the strong resistance level.
Opportunity to take advantage of correction to increase stock proportion
Yuanta Securities believes that the market will likely continue to increase in the next session and the VN-Index may challenge the 1,290-point threshold. Yuanta still has high expectations for the VN-Index to surpass 1,300 points in the context that investors are still optimistic about the current market developments.
Yuanta recommends that investors can take advantage of the correction to increase the proportion of stocks.
Similarly, although the risk of strong oscillations remains, KB Securities Vietnam The index is expected to have many opportunities to conquer the resistance level around 1,300 points because the short-term uptrend is still being preserved. KBSV recommends that investors can buy pillows when VN-Index or target codes adjust to nearby support zones.
The market tends to continue to maintain movement above the 1,270 point area.
Asean Securities also assessed that the process of shedding hot money is going well, helping to increase the momentum to maintain the increase. In the context of the approaching long holiday, the psychology of waiting and observing may increase. The market tends to continue to maintain its movement above the 1,270 point area with the rotation of large-cap stocks.
AseanSe recommends that investors should maintain a stable proportion focusing on stocks with good business foundations and profit prospects. Short-term fluctuations (around 1,270 points) will be an opportunity to restructure the portfolio.
According to the point of view of Agribank Securities, market developments show that selling pressure is weak and active buying demand has absorbed all of the above supply. Agriseco Research believes that VN-Index will have alternating sessions of increase and decrease and create a balance zone around the 1,280 (+-10) point mark in the coming period. Investors should maintain holding their portfolios and prioritize opening new purchases of large-cap stocks, VN30 is currently discounted to the support zone after the correction.
TPS Securities believes that investors should be cautious during distribution sessions and need to have measures to protect their accounts, prioritize reducing the proportion and wait for clear opportunities. TPS builds 2 scenarios: VN-Index surpasses 1,300 points or falls back to the price range of 1,220 - 1,250 points.
Source: CafeF
