Summary
▶ In Monday's trading session, the market continued to fluctuate around the mark of 1278 -1287 points with the advantage at the end of the session belonging to the sellers. Signs of cash inflows are still open when volume has not shown signs of a breakthrough. Investors are generally still cautious, not acting clearly.
▶ At the end of the trading session, the VN-Index decreased by 5.69 points (-0.44%), reaching 1,279.77 points; HNX-Index decreased by 1.78 points (-0.77%), reaching 227.43 points. Market volume reached VND 14.3 trillion, equivalent to about 622.8 million shares traded. Foreign investors net sold VND 267.52 billion, mainly concentrated in STB, FPT and HPG.
▶ Technical perspective: VN-Index fell for most of the trading session but the decline could have been more if it had not been for the strong contribution of VIC and VHM. The trend of accumulation in the area of 1,270 – 1,300 with low volume continues. The long-term trend of VNINDEX remains firmly above the 50 EMA corresponding to 1,270. In case of continuing to violate the EMA50 mark, the index will return to retest the 1,240-1,250 point area corresponding to the 200 EMA.
Strategy: Investors should maintain a holding position while the market is still in a sideways state. 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.
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