Vietnam Insight

▶ In Thursday's trading session, the market was "stained with blood" with the differentiation of cash flow, especially in the Banking and Securities sectors. VN-Index remained in a tug-of-war state and volume did not change much compared to the previous session. This shows that investors are waiting for the right time to catch the bottom in the context of a deep market decline.

▶ At the end of the trading session, VN-Index decreased by 14.15 points (-1.14%), reaching 1,231.89 points; HNX-Index decreased by 2.39 points (-1.06%), reaching 223.82 points. Market volume reached 16.1 trillion VND, equivalent to about 692.6 million shares traded. Foreign investors were net sold of 941.01 billion VND, focusing on FPT, VPB, HPG.

▶ Technical perspective: The market moved negatively when it fell nearly 14 points, erasing yesterday's increase and pushing VN-Index to the bottom of the past 3 months. Cash flow continued to weaken and could not help reverse the trend. With the current movement, in a positive case, the market needs to re-establish the balance zone of 1240 for cash flow to return. In a less positive case, if the support zone of 1240 is lost, VN-Index will continue to correct and return to test the zone of 1,200-1,220 to find new cash flow.

Strategy: Investors should maintain an observation state and wait for the market to determine a short-term uptrend. Investors can wait to buy when the market rises above 1,270. If VN-Index fails to attract cash flow from buyers and loses EMA200, investors can reduce the proportion of stocks to manage risks.