[Market Radar] - Tug of war
▶ In Thursdays trading session, the market continuously experienced tug of war as profit-taking pressure increased, cooling down the markets continuous increase. However, cash flow still prioritized focusing on the group of banking stocks, helping the market reverse and maintain green at the end of the session. Market liquidity continued to improve, recording a level higher than the 20-day average. ▶ At the end of the trading session, the VN-Index increased by 3.47 points (+0.26%), reaching 1,313.20 points; HNX-Index increased by 0.40 points (+0.18%), reaching 219.28 points. Market liquidity reached VND25.9 trillion, equivalent to about 1,116.3 million shares traded. Foreign investors net bought VND919.0 billion, mainly focusing on MBB, SHB, BID. ▶ Technical perspective: The market recorded a continuous increase but there was a fluctuating state during the session. Increased liquidity shows a good increase in demand, however, the state is differentiated in the context of VN-Index moving towards the upper resistance zone. This shows that the increase is not convincing enough to form a new trend. We forecast there will be short-term profit-taking around this zone. Strategy: Investors who prefer to hold for the long term can consider disbursing stocks with good foundations, with low accumulation rates. It is possible to focus on stocks that benefit from domestic internal factors in some industry groups such as: Steel, banking, securities, energy... VN-Index moves towards the resistance zone of 1,300-1,320 points, investors should maintain stocks at a moderate level to manage risks.
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