Vietnam Insight

▶ On Wednesday's trading session, after the excitement in the morning session thanks to Large Cap stocks, the market turned down sharply and ended the session at the reference level. Market volume continued to maintain at the average level of 20 sessions.

▶ At the end of the trading session, the VN-Index increased slightly by 0.83 points (+0.06%), reaching 1,284.35 points; HNX-Index increased 0.17 points (+0.07%), reaching 244.49 points. Market volume reached VND 24.1 trillion, equivalent to about 925.1 million shares traded. Foreign investors were net bought of VND 39.6 billion, focusing mainly on MSN, VNM, and GMD.

▶ Technical perspective: VN-Index was under selling pressure at the end of the afternoon session and formed a shooting star candle. However, the index still maintained its green color thanks to the Large-cap stocks. Technical indicators are still showing good signals in the sideway area. The MA10 and MA20 lines continue to slope up and agree with the trend of MACD. In a positive scenario, the market will continue to accumulate around 1,250 - 1280 with low volume before entering the subsequent rising wave.

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.