Summary
▶ On Monday's trading session, the market exploded right from the morning session and maintained until the end of the afternoon session. The growth dynamics came from the Large Cap stocks in the VN30 basket, helping to spread the green vibe to many industry groups with volume above the 20-session average.
▶ At the end of the trading session, VN-Index increased 18.28 points (+1.45%), reaching 1,280.0 points; HNX-Index increased 1.63 points (+0.67%), reaching 244.72 points. Market volume reached VND 26.1 trillion, equivalent to about 1,046.9 million shares traded. Foreign investors were net sold of VND 245.14 billion, focusing mainly on MWG, FPT, and TCB.
▶ Technical perspective: VN-Index increased most of the session and closed right at the resistance area of 1,280-1,300 after increasing more than 18 points. The medium and long term trend is still up, but the market seems to be accumulate at 1,250 - 1,280 in the short term. Therefore, investors should only buy when the market has a correction to the support area and limit chasing during strong upward sessions.
Strategy: Investors should buy at support areas corresponding to the 1,250 area of the market if the market accumulates successfully. Consider lowering your weighting if VN-Index breaks support at 1,240-1,250 points.
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