Market Recap - Surpassed MA200 area
06/12/2023

Summary

▶ During Wednesday's trading session, the market had an increasing session with high liquidity showing the excited psychology of investors.

▶ At the  end, VN-Index increased 10.46 points, equivalent to 0.94%, reaching 1,126.43 points; HNX-Index increased 2.29 points (+0.99%), reaching 233.63 points. Market liquidity reached 18.03 trillion VND, equivalent to about 854 million shares traded. Foreign investors continued to net sell 549 billion VND, focusing mainly on VHM and VND.

▶ Technical perspective: After yesterday's correction, the market increased throughout today's session and closed at the session's highest, demonstrating the positive sentiment of investors. The expectation that the market will clearly break out of 1,130 will confirm VNINDEX's return to the medium-term rising wave. However, investors should disburse according to the accumulated price method at the base and buy when the price is just starting to increase, rather than buying strongly with FOMO mentality when the price breaks at its peak. Looking through price momentum indicators, the market still has room to increase further. The corresponding support and resistance level is 1080 - 1130.

Category
Daily
Author
Diem Ngo
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