Vietnam Insight

▶ On the Tuesday’s trading session, the market maintained green but market volume was gloomy. However, the market exploded in the afternoon session thanks to the group of Large-cap stocks, helping to spread green and significantly improve market volume.

▶ At the end of the trading session, the VN-Index increased by 8.51 points (+0.67%), reaching 1,266.99 points; HNX-Index increased by 0.94 points (+0.40%), reaching 234.32 points. Market volume reached VND 17.92 trillion, equivalent to about 817.5 million shares traded. Foreign investors net sold VND 2,431.23 billion, mainly focusing on VIB.

▶ Technical perspective: VN-Index is currently trading above the EMA lines 20, 50 and 200 but is close to 1,300 points, where the index has not been able to surpass in the last 4 times. Accordingly, buyers are more cautious around this area while sellers are not willing to sell when VN-Index has a good support level right below. However, VN-Index is showing many positive signals when foreign investors (except for the selling pressure of VIB) still maintain net buying in trading sessions and banking stocks are the group leading the increase this time. The MACD technical signal crossed above the signal line, supporting the index's upward momentum. In the short term, we expect the VN-Index to fluctuate in the range of 1,260-1,300 points, waiting for a large liquidity session with a wide amplitude to confirm surpassing 1,300 points. In case of continued failure in approaching this old peak, the index will return to retest the 1,240-1,250 point area once again. 

Strategy: Investors observe at this price range, increase the proportion if the VN-Index successfully surpasses 1,300 points with improved volume.