Market Report Week 35 - Successful bottom testing has led to market recovery


Key Highlights:

As per the General Statistics Office (GSO), data released on the morning of August 29th reveals that in August 2023, the total value of goods exports and imports reached $60.92 billion, marking a 6.7% increase compared to the previous month and a 7.9% decrease compared to the same period last year. Cumulatively, for the first 8 months of 2023, the trade balance is estimated to have a surplus of $20.19 billion.

Technical view: In this week, the VNINDEX closed the week at 1224 (+40.6 points, +3.44%), continuing the upward trend after successfully testing the 1180 level, which corresponds to the MA 20 of the weekly chart, in the previous week.

Investment Ideas: As recommended in the previous week's report, buying in support zones was advised. Sectors such as industrial real estate, retail, and banking, all of which were predicted to benefit, have seen impressive gains. In the coming week, the market will approach the resistance level at 1250. It is advisable for investors to limit new purchases and prioritize profit-taking to safeguard gains, given the market's anticipation of relatively sensitive macroeconomic information.

  • Movement of cash flows and capital flows
  • Top stocks worth noting
  • Macro data
Hoang Nam

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