Vietnam Insight

▶ On Tuesday's trading session, the market continued to be under profit-taking pressure, most clearly shown in the afternoon session. However, after a long period of market with gloomy volume, the absorption from the buyers still remains at a balanced level. Market volume maintained higher than the 20-session average.

▶ At the end of the trading session, the VN-Index decreased slightly by 0.44 points (-0.03%), reaching 1,277.14 points; HNX-Index increased 0.72 points (+0.30%), reaching 243.29 points. Market volume reached VND 24 trillion, equivalent to about 972.2 million shares traded. Foreign investors were net sold of VND 715 billion, focusing mainly on KBC, VHM, and VNM.

▶ Technical perspective: VN-Index was of dropping more than 10 points during the session before recovering to the reference point. The Doji candlestick pattern continues to show a struggle at the important resistance area of 1,280-1,293 points. The uptrend is expected to continue leading VN-Index as it is currently trading above EMA50. RSI is close to the overbought zone, showing that the risk of a short-term correction is quite high. The market is likely to accumulate before finding a balance point to continue 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.