Vietnam Insight

▶ In Monday's trading session, the green color of the market was extinguished due to selling pressure from foreign investors at the end of the trading session. The market witnessed a tug-of-war, showing that the momentum of excitement is gradually weakening and profit-taking pressure prevails. Market liquidity remained at an average of 20 days.

▶ At the end of the trading session, the VN-Index decreased by 2.05 points (-0.16%), reaching 1,286.34 points; HNX-Index decreased by 0.65 points (-0.28%), reaching 230.72 points. Market liquidity reached VND 18.3 trillion, equivalent to about 795.7 million shares traded. Foreign investors net sold VND 615.12 billion, mainly concentrated in FPT, EIB, VPB.

▶ Technical perspective: The market opened an upward gap at the beginning of the morning session, but was sold back at the end of the session. Market liquidity is still at an average level, indicating that there is no selling pressure. The short-term trend of the market still maintains a state of shaking and squeezing, the cumulative trading area of VN-Index will be in the range of 127x-129x. In case of further violation of the MA20 mark, the index will return to retest the MA50 level around the 1,240-1,250 point area and thus the market will take more sessions to rebalance.

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