Vietnam Insight

▶ During Monday's trading session, continuously increasing pressure from sellers caused the market to sink into "bloody sea". The red vibe spread over most industry groups with outstanding volume of 35% higher than the 20-day average.

▶ At the end of the trading session, VN-Index decreased 27.90 points (-2.18%), reaching 1,254.12 points; HNX-Index decreased 4.63 points (-1.89%), reaching 239.74 points. Market volume reached VND 31.8 trillion, equivalent to about 1,247.1 million shares traded. Foreign investors were net sold of VND 925.58 billion, focusing mainly on FPT, NLG, and SSI.

▶ Technical perspective: VN-Index dropped sharply in most trading sessions, causing a big challenge for the medium-term uptrend. Simultaneous selling force appeared in industry groups. It is forecast that the market will fall to support area 1 of 1,240 - 1,250. If this area is breakthrough, VNINDEX will likely fall to 1,220, corresponding to EMA 200 to retest the demand.

Strategy: Investors should observe and wait to buy when upcoming bull traps may appear. Upswings are opportunities to sell violating stocks. Besides, stocks maintaining the EMA 50 and having buy signals in the afternoon session are good wave-leading opportunities when the market recovers.