Market Recap - Bounce session after sharp decline
12/03/2024

Summary

▶ During Tuesday's trading session, liquidity dropped below average. Many industry groups had recovery sessions after two consecutive sharp declines.

▶ At the end of the trading session, VN-Index increased 9.51 points, up (0.77%), reaching 1,245.00 points; HNX-Index increased 0.19 points (0.08%), reaching 234.03 points. Market liquidity reached VND 20.8 trillion, equivalent to about 836.2 million shares traded.

▶ Technical perspective: The market reacted with a strong bounce at the EMA 20 zone, after two strong profit-taking sessions. There are 2 possible scenarios: (1) The market continues to rise to 1,275, creating a double top and then falling sharply. (2) The market breaks through the EMA 20, returning to the 1,200- 1,210 zone corresponding to the EMA 50 and then resumes a sustainable upward trend. And in the most positive scenario with a low probability, VNINDEX will surpass 1,275. Therefore, investors should observe which scenario will occur to take appropriate action.

Category
Daily
Author
Phuong Nguyen
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