Vietnam Insight

▶ On the Monday's trading session, the market continuously struggled and was under pressure from sellers. Market volume improved but still below the 20-session average.

▶ At the end of the trading session, VN-Index decreased 4.52 points (-0.36%), reaching 1,240.18 points; HNX-Index increased 0.68 points (+0.29%), reaching 236.36 points. Market volume reached VND 17.2 trillion, equivalent to about 741.6 million shares traded. Foreign investors continued to net sell of VND 852.55 billion, focusing mainly on VHM, CTG, and VPB.

▶ Technical perspective: In today's session, the market continued to fluctuate in a narrow range as VN-Index traded around the strong resistance area. The market volume was lower than the 20-session average, showing the hesitation from both the buyers and sellers. The market's upward momentum showed signs of slowing down when the MACD indicator decreased slightly in the last two consecutive sessions. VN-Index has recovered about 7% from the bottom area of 1,170-1,180, causing the market to be under short-term profit-taking pressure from investors. We assert that VN-Index will likely continue to struggle in the range of 1,225-1,280 to absorb all the selling pressure before returning to the uptrend.

Strategy: Investors temporarily postpone the new Buy position as the market has continuously increased. Prioritize holding and take profits when reaching profit goal.