Summary
▶ In the Wednesday's trading session, the strong inertia of yesterday's session caused pressure to shake in the morning session, focusing on Bluechip stocks such as VHM, VPB, HPG. Buying power appeared in the afternoon session, but low liquidity showed that most investors holding money were still "afraid" to buy in this area.
▶ At the end of the trading session, the VN-Index increased by 1.01 points (+0.08%), reaching 1,270.90 points; HNX-Index increased by 1 point (+0.44%), reaching 226.50 points. Market liquidity reached 14.0 trillion VND, equivalent to about 589.9 million shares traded. Foreign investors net bought 9.23 billion VND, mainly in TCB, STB and MSN.
▶ Technical perspective: The market experienced a technical recovery session after 4 consecutive sessions of decline and regained the 1,270 point mark. Movement in a narrow range during the session, low volume showed that selling pressure was not too great but the buying side was still weak. The real estate group attracted attention with an increase in volume. The market trend continues to accumulate in a large range around 1,270 - 1,300. The nearest support for the market is at 1,260. If it continues to violate the EMA50 level, the index will return to retest the 1,240-1,250 point zone, corresponding to the EMA 200.
Strategy: Investors should maintain a holding position while the market is still in a sideways state. The buying recommendation is to wait for the market to fall to the 1,270 zone and have a tendency to rebound or wait for it to surpass 1,300.
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