Vietnam Insight

▶ In Thursday's trading session, the market was positive in the morning session when the green vibe spread across many primary industries. However, the market reversed when the profit-taking pressure appeared, pushing the session back to the reference level. Trading volume improved compared to the previous session but was still lower than the 20-session average.

▶ At the end of the trading session, the VN-Index increased by 0.14 points (+0.01%), reaching 1,242.11 points; the HNX-Index increased by 0.48 points (+0.21%), reaching 223.57 points. Market volume reached VND 11.14 trillion, equivalent to about 477.5 million shares traded. Foreign investors balance was net purchase of VND 44.96 billion, focusing on FPT, MSN, TCB.

▶ Technical perspective: The market is under selling pressure when trying to recover to the 1,250 area. The technical performance is generally not much different from yesterday's session. The market is lacking in cash flow, the leadership of large-cap groups, and low market sentiment. In addition, MACD has crossed the signal line, indicating an improvement in price momentum. The market is following the recovery scenario to the 1,280 area as it did in the previous two times. We expect the deline potential of the market tends to be clearer as the uptrend has slowed down in the last 3 sessions.

Strategy: Investors should avoid buying new stocks having high volatility; prioritize to observe and be ready to sell if the stock touches the price range according to the proposed scenario. Since the market is trading in a specific range, investors should prioritize to disburse one time and close position early, avoiding buying multiple times when the price increases.