Vietnam Insight

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

▶ At the end of the session, VN-Index decreased 14.78 points, equivalent to 1.31%, reaching 1,113.8 points; HNX-Index decreased 2.19 points (0.95%), reaching 228.01 points. Market liquidity reached VND 13.0 trillion, equivalent to about 609 million shares traded. Foreign investors net sell VND 732 billion, focusing mainly on VNM and CTG.

▶ Technical perspective: VNINDEX opened with a gain but could not maintain it as investor sentiment was quite weak, causing the recovery efforts of the previous session to almost disappear. It can be seen that the demand force only sets low prices and waits rather than actively buying. Up to now, since the decline in mid-September, this is the third bull trap, when the market recovered a little, then fell sharply in the next session. With the chart having breached most of the support levels (Only MA 200 remains), it will take quite a while for the market to regain its upward momentum. If the MA 200 support is breached at the 1,100 area, the market will likely continue to the 1,050 area. Reference support and resistance are 1,100 and 1,180. Although it is close to current support, there are still no signs of the market rebounding. Short-term traders should continue to observe further.