Summary
▶ On Wednesday's trading session, the market maintained a gloomy and sideways state before abruptly experiencing an explosive upward movement in the afternoon session. The green vibe spread across most industry groups, resulting in the market successfully conquering the 1,300 point threshold.
▶ At the end of the trading session, VN-Index increased 15.78 points (+1.23%), reaching 1,300.19 points; HNX-Index increased 1.90 points (+0.77%), reaching 248.31 points. Market volume reached VND 23.3 trillion, equivalent to about 895.3 million shares traded. Foreign investors were net sold of VND 591.5 billion, focusing mainly on FPT, VHM, and VRE.
▶ Technical perspective: VN-Index increased for most of the trading session and brought throght the 1,300 old peak after more than 2 years. The Large-cap stock groups were all pull the market, with the current upward momentum. The RSI indicator improved but has not yet entered the overbought area, showing there is still growing room. With the scenario of conquering 1,300, the market is expected to move towards the 1,340 - 1,400 area in the medium and long term.
Strategy: Investors can completely buy stocks that are rising from the ground up with high volume. The periods when VNINDEX adjusts to EMA 20 - 1,280 - 1,300 range and bounces up are suitable purchase timing.
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