Vietnam Insight

▶ On Tuesday's trading session, after the excitement in the morning session, the green color spread in many industry groups. However, intense selling pressure appeared, causing the market to shake and close around the reference threshold. Market volume improved and recorded a 20-day average level.

▶ At the end of the trading session, VN-Index increased 1.36 points (+0.11%), reaching 1,281.18 points; HNX-Index increased 0.07 points (+0.03%), reaching 244.91 points. Market volume reached VND 16.41 trillion, equivalent to about 684.3 million shares traded. Foreign investors were net sold of VND 235.38 billion, focusing mainly on MWG, MSN, and TCB.

▶ Technical perspective: The market was excited in the morning session with the leading momentum of the banking group. However, selling pressure continued to appear at the 1,300 point threshold, causing VN-Index to almost lose all of the gains from the morning session. Volume remained low, showing that selling force was not strong and buying cash flow was also relatively weak. Currently, VNINDEX continues to test the EMA 20 area and continues to build a price base. Regarding the medium and long-term trend, VN-Index is still in an uptrend when it is above all three lines of EMA 20, EMA 50 and EMA 200. VN-Index needs to have strong new cash flow to buy to be able to completely surpass the 1,300-point milestone.

Strategy: Short-term trading investors can buy around the EMA50 area corresponding to 1,270 and sell when the market approaches the 1,300 area. With the strategy of holding according to the trend, investors can continue to hold and wait for a complete break of 1,300 to increase their proportion. In case the business results report is not as expected, strong selling force appears in the low price range, VN-Index falls below EMA50, investors can reduce the proportion.