Summary
▶ On Thursday's trading session, the market continued to maintain green and was led by the real estate group. However, the market sentiment was cautious, waiting to observe after the FED's interest rate cut announcement. Market volume was lower than the 20-day average.
▶ At the end of the trading session, the VN-Index increased by 6.37 points (+0.50%), reaching 1,271.27 points; HNX-Index increased by 0.82 points (+0.35%), reaching 233.77 points. Market volume reached VND 14.28 trillion, equivalent to about 607.6 million shares traded. Foreign investors were net bought of VND 471.48 billion, mainly focusing on SSI, HCM, FUEVFVND.
▶ Technical perspective: VN-Index increased by more than 6 points and closed above all three EMA20, 50 and 200 lines. Technical signals are supporting the short-term uptrend. Foreign investors' strong net buying for the third consecutive session is also a positive signal for the market. However, the negative point of the session is that liquidity decreased below the average level, buying power is still relatively weak in recent sessions. The VN-Index's target is the resistance level of 1,300 points. However, if volume continues to remain low and the VN-Index cannot surpass 1,300 points, the index will adjust and return to trading within a wide range of 1,250-1,300 points.
Strategy: Investors increase positions at the price range of 1,260-1,270 points and consider disbursing more if the VN-Index surpasses 1,300 points with improved the trading volume.
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