Vietnam Insight

▶ During the trading session on Monday, the market was in a tug-of-war as the VN-Index increased in the morning session and then turned red in the afternoon session.

▶ At the end of the trading session, the VN-Index decreased by 0.67 points (-0.05%), reaching 1,269.93 points; the HNX-Index decreased by 0.20 points (-0.09%), reaching 232.47 points. Market liquidity reached VND12 trillion, equivalent to about 542.6 million shares traded. Foreign investors net sold VND337.69 billion, mainly concentrated in VPB, HDB, VCG.

▶ Technical perspective: VN-Index recorded a session retesting the MA20 support level after violating the MA10 support. The correction session with a sharp decrease in liquidity shows that the selling force has weakened and the buying force has returned in the ATC session. The market trend is still a correction trend and there has not been much change. In a positive scenario, the market will accumulate around the support level of 1270 to attract cash flow back and give a confirmation signal of forming a bottom at 1270. In case of continuing to violate the MA20 level, the index will return to retest the MA50 threshold around the 1,240-1,250 point range.

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