Vietnam Insight

▶ On Thursday's trading session, after a series of profit-taking pressure in the early sessions of the week, the market suddenly reversed and increased sharply in today afternoon session, spreading the green vibe over most industry groups.The market volume still remains high and above the 20-session average.

▶ At the end of the trading session, VN-Index increased 14.12 points (+1.11%), reaching 1,281.03 points; HNX-Index increased 1.76 points (+0.72%), reaching 246.91 points. Market volume reached VND 23.3 trillion, equivalent to about 968.1 million shares traded. Foreign investors also reversed and were net purchase of VND 69.76 billion, focusing mainly on DBC, MWG, HPG.

▶ Technical perspective: VN-Index regained all the losses in the previous sessions, showing that the investors are still optimistic in the short term even though the price has approached the old peak. However, this is also an area where developments have struggled in the previous period, so we still maintain a cautious stance. The support and resistance area of VN-Index is 1,250 corresponding to EMA 50 and 1,300 corresponding to the old peak area.

Strategy: Investors should buy at support areas corresponding to the 1,250 area of the market, avoid buying in sessions with strong price increases near the old peak.