Vietnam Insight

Highlights:

• On September 18th, the Fed decided to ease monetary policy after 4 years. Accordingly, the US benchmark interest rate was reduced by 50 basis points (0.5%), to 4.75-5%.
• Officials raised the forecast for the unemployment rate this year to 4.4%, from the 4% forecast in the most recent update in June.

Technical view: VNINDEX closed the week at 1,272.04 (+20.33 points, +1.62%) on the weekly chart with improved liquidity. The positive point is that foreign investors have continuously net bought throughout the past week, except for Friday. On the daily chart, although Friday's session increased slightly, it decreased throughout the afternoon session, showing that selling pressure is always ready when the index approaches the resistance level of 1,290. The corresponding support and resistance levels are 1,240 and 1,290.

Investment ideas: Investors prioritize holding stocks and are ready to sell when they achieve profit targets or approach resistance. New purchases should wait for the market to clearly surpass 1,300 or when the index declines and recovers at the support level of 1,240 - 1,250. Prioritize observing large-cap groups such as banks.