Market Recap - Narrow the downward momentum
07/12/2023

Summary

▶ During Thursday's trading session, the market had a down session but had the highest liquidity in 20 sessions.

▶ At the end, VN-Index decreased 4.94 points, equivalent to 0.44%, reaching 1,121.49 points; HNX-Index decreased 1.79 points (-0.77%), reaching 231.84 points. Market liquidity reached 27.45 trillion VND, equivalent to about 1.135 million shares traded. Foreign investors continued to net sell 818 billion VND, focusing mainly on VHM and MSN.

▶ Technical perspective: After yesterday's good increase trading session, VNINDEX formed a retreat candle when it touched the 1,110 area and closed at 1,121. Liquidity has reached its highest level since October 2023. The market's trend of recovering from the bottom is still continuing as the closing price is still above the EMA 50 and MA 200. However, the 1,130 area is still a resistance area, the market needs to overcome it convincingly to be able to confirm a clear upward trend. If in the coming sessions VNINDEX closes lower than the 1,110 zone, there is a very high possibility that the market will return to retest the 1,080 zone and need more time to accumulate. The reference support and resistance level is 1,080-1,030.

Category
Daily
Author
Diem Ngo
Details

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