Market Recap - The bulls’ counter-attack


▶ On Thursday's trading session, the market was led by the banking stocks, quickly spreading the green vibe in most industry groups. Market volume continued to improve, exceeding the 20-session average.

▶ At the end of the trading session, VN-Index increased 14.39 points (+1.15%), reaching 1,268.78 points; HNX-Index increased 1.24 points (+0.52%), reaching 240.02 points. Market volume reached VND 22.7 trillion, equivalent to about 885.1 million shares traded. Foreign investors were net bought of VND 6.3 billion, focusing mainly on MWG, NLG, and STB.

▶ Technical perspective: The market opened and created an increasing gap, then maintained the upward momentum until the ending session. The key contributor to the increase mainly came from the banking group. The uptrend of VN-Index continues as MA10 has crossed MA20 and tends to cross MA50. Cash flow has improved well. We assert that the market may experience shaking as it approaches the resistance area around 1,280.

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

Phuc Nguyen

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