Vietnam Insight

▶ In Monday's session, liquidity increased slightly and two main indexes decreased, showing negative investor sentiment.

▶ At the end of the session, VN-Index decreased 39.85 points, equivalent to 3.34%, reaching 1,153.2 points; HNX-Index decreased 11.64 points (4.79%), reaching 231.5 points. Market liquidity reached VND 23.4 trillion, equivalent to about 1,086 million shares traded. Foreign investors net buy VND 687 billion, focusing mainly on HPG and SSI. 

▶ Technical perspective: The market formed a candle that fell sharply from the morning session and closed lowest in the afternoon session at 1,150. The market shows that the demand to buy up is almost non-existent and only decreases. Since May 2023, MA 10 has crossed MA 50, showing that the medium-term uptrend has been lost. Currently, the market has returned to the 1,150 area, this is the area where a withdrawal and rebound candle formed in August 2023, corresponding to the Fibo threshold of 0.5-0.618. Therefore, the next developments will be very important in determining the major trend of the market. If the market leaks at 1,150, the possibility of reaching 1,100 is very high.