Vietnam Insight

▶ On Monday's trading session, the market continued to maintain the red vibe and spread in most industry groups. However, positive news in the steel sector helped partially cool down the market's downward momentum. Market volume was low and below the 20-day average.

▶ At the end of the trading session, VN-Index decreased 1.32 points (-0.40%), reaching 1,274.77 points; HNX-Index decreased 0.80 points (-0.33%), reaching 243.16 points. Market volume reached VND 23 trillion, equivalent to about 900.6 million shares traded. Foreign investors were net sold of VND 791 billion, focusing mainly on HPG, FPT, and VHM.

▶ Technical perspective: VN-Index continues its short-term correction and will likely test the EMA 50 at 1,250 - 1,260 again. This is an important support area that investors need to observe. In general, the long-term trend is still up. The RSI cooled significantly towards the average indicating weakening price momentum in the short term. Support and resistance are 1,260 and 1,300, respectively.

Strategy: Investors should observe and buy with good fundamental stocks that tend to increase from the base.