Vietnam Insight

Key Highlights:

According to data released by the US Department of Commerce on November 29, the US gross domestic product (GDP) grew 5.2% in the third quarter of 2023, the highest since the fourth quarter of 2021 and above expectations for growth of 5%.

Technical view: VNINDEX closed at 1102.1 points (+6.55 points, +0.6%) on the weekly chart with declining liquidity. During the week, the market traded rather dullly with low volatility and liquidity. The only positive point is that the support zone of 1080 was held quite firmly when there was always buying demand in this area. The momentum indicators on the weekly and daily charts are all in a good upward trend. If the market can break through the 1130 zone, a new uptrend will open up towards the 1250 zone.

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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