Vietnam Insight

▶ On the Tuesday's trading session, the market kept maintaining its struggling trend and fluctuated within a narrow range. Modest market volume has continued to be below the 20-session average.

▶ At the end of the trading session, VN-Index increased 3.10 points (+0.25%), reaching 1,243.28 points; HNX-Index increased 0.59 points (+0.25%), reaching 236.95 points. Market volume reached VND 15.6 trillion, equivalent to about 640.5 million shares traded. Foreign investors continued to net sell of VND 800.98 billion, focusing mainly on VHM, VPB, and HPG.

▶ Technical perspective: The session's developments were quite similar to the first two sessions of the week as VN-Index still fluctuated in a narrow range at low volume. The market's upward momentum has shown signs of slowing down as the MACD index has decreased slightly in the last three consecutive sessions. After the recent positive recovery period, the market is currently under short-term profit-taking pressure from investors. We assert that VN-Index will likely trade in a range of 1,225-1,280 to absorb all the selling supply 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.