Market Recap - Unexpected decrease
23/11/2023

Summary

▶ During Thursday's trading session, the market suddenly turned down in the afternoon session after 2 p.m. and in the ATC session while increasing in the morning session.

▶ At the end, VN-Index decreased 25.33 points, equivalent to 2.27%, reaching 1,088.49 points; HNX-Index decreased 5.95 points (-2.58%), reaching 224.54 points. Market liquidity reached 20.64 trillion VND, equivalent to about 1,028 million shares traded. Foreign investors continued to net sell 449 billion VND, focusing mainly on VPB and VHM.

▶ Technical perspective: VNINDEX opened with an increase after continuing the accumulation of previous sessions. But the market suddenly dropped sharply after 2 p.m and ATC, causing many stocks to fall to the floor. The 1,080 area currently acts as short-term support, but the possibility of the market breaching 1,080 is high, as the selling force in today's session is quite strong. At the same time, the MACD, STOCH and RSI indicators all adjusted significantly, showing that the downtrend in the coming sessions is high. Investors should stand aside and observe, and sell cutloss on stocks that have broken support. Reference support levels are at 1,080, and beyond that is the old bottom at 1,030. 

Category
Daily
Author
Diem Ngo
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