Vietnam Insight

▶ On Monday's trading session, the market performed positively with the green vibe covering most industry groups. However, market volume was still recorded at a low level, remaining below the 20-day average due to investor sentiment remaining cautious and needing more time to observe the market.

▶ At the end of the trading session, the VN-Index increased by 4.49 points (+0.36%), reaching 1,246.60 points; the HNX-Index increased by 0.86 points (+0.36%), reaching 237.52 points. Market volume reached VND 11.38 trillion, equivalent to about 496.9 million shares traded. Foreign investors were net sold of VND 222.72 billion, mainly concentrated in PDR, DCM, MWG.

▶ Technical perspective: Volume continues to remain at low level, VN-Index formed a Doji candlestick in the first trading session of the week. After recovering from EMA200, buyers are still relatively cautious to observe further market trend. Meanwhile, sell-side remain weak, with no strong selling pressure around the trading range of 1,230-1,260 points. The short- and medium-term uptrend will depend on how the market performs at the resistance zones of 1,260 points and 1,220 points. If it breaks above EMA20 and EM50, the market will have more buyers to support the uptrend in the rest of 2024.

Strategy: Investors continue to observe the market's performance at the support zone of 1,220-1,230 points, and can consider disbursing when a reversal signal appears and the VN-Index returns above EMA50. Investors can continue to hold stocks that still maintain an uptrend and have good fundamentals. Investors should reduce the proportion of stocks that violate technical signals and have poor business foundations in the coming time.