Vietnam Insight

Key Highlights:

The investigating agency announced that the amount of money that Trương Mỹ Lan embezzled from SCB Bank is 545 trillion VND. Although she does not hold any position at SCB, her authority is very great, as she indirectly holds 91.5% of the shares in SCB.

Technical view: VNINDEX closed at 1095.6 points (-5.58 points, -0.51%) on the weekly chart with relatively high liquidity. Looking at the daily chart, the market has a development quite similar to the previous week when it rose at the beginning of the week, and fell sharply at the end of the week, erasing all previous gains. All price momentum indicators show signs of weakness, when the price index approaches the EMA 200, selling pressure reappears. And the demand force only participates in the very low price range below, creating an unpredictable tug-of-war in the past 2 weeks.

Investment Ideas: In general, there are still short-term trading opportunities, but the probability of success will be low when the market has not yet been able to completely escape the MA 50 and MA 200. The current reference support and resistance are 1080 – 1120.

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