Market Recap - VN-Index falls 5 sessions in a row


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


At the end of the session, VN-Index decreased 15.55 points, equivalent to 1.41%, reaching 1,087.85 points; HNX-Index decreased 3.67 points (1.62%), reaching 223.45 points. Market liquidity reached VND 13.7 trillion, equivalent to about 649 million shares traded. Foreign investors net buy VND 269 billion, focusing mainly on FPT and STB.


Technical perspective: After breaking MA 200 in the previous session, the market continued to decline from the opening and closed at the session's lowest. With this downward momentum, the market is highly likely to return to the 1,050 area (support area accumulated during the first 5 months of 2023). After that, VNINDEX will need more time to accumulate. The STOCH RSI indicator has cut the signal line quite deeply but has not yet entered the oversold area, showing that the market still has room for further decline. It takes a quite time for the market to rebound, because investors need time to stabilize their psychology.

Thao Nguyen

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