Vietnam Insight

▶ On Wednesday's trading session, the slight increase in the morning session quickly reversed due to continued profit-taking pressure in previous sessions. Absorbed demand from buyers remains high, helping maintain market volume at a high level and recorded above the 20-session average.

▶ At the end of the trading session, VN-Index decreased 10.23 points (-0.80%), reaching 1,266.91 points; HNX-Index increased 1.86 points (+0.76%), reaching 245.15 points. Market volume reached VND 28 trillion, equivalent to about 1,139.1 million shares traded. Foreign investors were net sold of VND 856.15 billion, focusing mainly on VHM, VIC, HPG.

▶ Technical perspective: VN-Index decreased more than 10 points under profit-taking pressure at the old short-term peak with increased volume. We assert that the market may keep up having correction sessions in the near future. The nearest support zone for VN-Index is 1,240-1,250, corresponding to EMA 50 and EMA 20. If VN-Index can hold this support area and accumulate successfully, the index can continue to the uptrend momentum. In a worse case, the next support area is 1,190 points, corresponding to the index's EMA200.

Strategy: Investors temporarily postpone the new Buy position as the market has continuously increased. Prioritize holding and consider lowering the proportion if the short-term support zone is broken. If the accumulation is successful and the uptrend is still maintained, investors can gradually buy around the EMA50 area of the index.