Vietnam Insight

▶ In Wednesday's trading session, the red color still spread in many industry groups. Investor sentiment is cautious while waiting for the Q3/2024 earnings report season to be gradually announced. Liquidity plummeted by 43% compared to the previous session, below the 20-day average.

▶ At the end of the trading session, the VN-Index decreased by 1.60 points (-0.12%), reaching 1,279.48 points; HNX-Index decreased by 0.69 points (-0.30%), reaching 228.26 points. Market liquidity reached VND 13.3 trillion, equivalent to about 536.7 million shares traded. Foreign investors net sold VND 330.5 billion, mainly concentrated in FPT, HDB, VHM.

▶ Technical perspective: VN-Index traded in a tight range during the session, at the end of the session, the index created a Doji candle right at the MA10 support level and touched the trendline right at 1,279. The trading market is gloomy with low volume, which shows the caution of buyers ahead of the derivatives trading day. The short-term trend of the market has not changed much, the market is still in the accumulation period in the range of 127x-129x. VN-Index needs a strong cash flow session to break the negative divergence of the MACD. In case of further violation of the EMA50 mark, the index will return to retest the 1,240-1,250 area.

Strategy: Investors should maintain their holdings. The buy recommendation should wait for the market to fall to the 1,270 area and have a tendency to bounce back up or wait for it to surpass 1,300.