Vietnam Insight

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

▶ At the end of the session, VN-Index increased 0.8 points, equivalent to 0.07%, reaching 1,151.6 points; HNX-Index increased 1.44 points (0.61%), reaching 238 points. Market liquidity reached VND 14.4 trillion, equivalent to about 647 million shares traded. Foreign investors net sell VND 659 billion, focusing mainly on MWG and HPG. 

▶ Technical perspective: The market's upward momentum stalled at the resistance area of 1,160, causing the market to move sideways with a narrow range. This is the profit-taking area for the group of bottom-fishing investors in the 5/10/2023 and the group of investors has been pinned down before. The STOCH RSI indicator has expanded and entered the overbought area, showing that the market's uptrend in the near future will slow down. We are inclined to the scenario where the market will retest the 1,140 area, completely surpass 1,160 and move towards 1,200. Reference support and resistance: 1,110 and 1,160.