Vietnam Insight

▶ On Thursday's trading session, the market actively attracted buying money flow throughout today's trading session. The green vibe spread across many industry groups with high trading volume, led by the banking group.

▶ At the end of the trading session, the VN-Index increased by 4.01 points (+0.31%), reaching 1,291.49 points; HNX-Index increased by 0.08 points (+0.03%), reaching 235.92 points. Market volume reached VND 21.8 trillion, equivalent to about 956.8 million shares traded. Foreign investors were net purchase of VND 958.86 billion, focusing on TPB, VNM, VHM, HDB.

▶ Technical perspective: VN-Index is currently trading above the EMA lines 20, 50 and 200, the index increased well for most of the time but ended the session losing more than 8 points. During the session, VN-Index formed a shooting star candlestick pattern showing that selling pressure was still very strong around 1,300 points and overwhelmed the buyers in the afternoon session. VN-Index foreign investors have maintained net purchase in recent trading sessions and banking stocks are the group leading the increase this time. With the current developments, VN-Index is likely to experience significant fluctuations around 1,270-1,300 points before it can completely escape upwards. In case it continues to fail in approaching this old peak, the index will return to retest the 1,240-1,250 point area.

Strategy: Investors should observe at this price area, increasing the proportion if VN-Index successfully surpasses 1,300 points with improved liquidity and wide amplitude.