Market Recap - Recover with caution
15/05/2024

Summary

On the Wednesday's trading session, the market recovered slightly and fluctuated within a narrow range. Market volume improved to the 20-session average.

At the end of the trading session, VN-Index increased 11.11 points (+0.89%), reaching 1,254.39 points; HNX-Index increased 0.49 points (+0.53%), reaching 238.78 points. Market volume reached VND 22.1 trillion, equivalent to about 880.2 million shares traded. Foreign investors returned to net purchase of VND 296 billion, focusing mainly on MWG, HPG, and NVL.

Technical perspective: VN-Index had a positive increasing trading session with narrow spread. MACD improved slightly and VN-Index ended above EMA 50, supporting the uptrend of the market. During the period of lacking new financial informations, we consider the sideways trend in the range of 1,225-1,280 is the main trend of the market in the short term. We believe that the market needs time to absorb the selling supply before it can grow further.

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

Category
Daily
Author
Phuc Nguyen
Details

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