Vietnam Insight

Key Highlights:

Foreign investors net sold VND4.3 trillion after 7 sessions, while individual investors bought all of them, and VN-Index still rose.

Total import and export turnover of goods in the first 11 months of 2023 reached USD619.17 billion, down 8.3% from the same period last year (exports down 5.9%; imports down 10.7%). The estimated trade surplus of goods in 11 months was USD25.83 billion.

Technical view: VN-Index closed at 1124.4 (+22.8 points, +2%) with significantly improved liquidity, higher than the 30-week average, the highest in the sessions. increase since early September to date. The market is currently approaching the EMA 50 on the weekly chart, indicating that the recovery trend from the bottom is still going well. However, the probability of the market uptrend will be higher when VN-Index exceeds the EMA 50 area - corresponding to the 1130 area. The corresponding support and resistance are 1080-1130.

Investment Ideas: Investors can deploy positions in the low price areas of 1080 and take profits when the market moves towards 1130 and shows signs of reversal. Or with a strategy of holding according to the trend, investors can wait for the market to confirm that it has completely exceeded the 1130 area before increasing the proportion.

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• Macro data