Vietnam Insight

▶ In the trading session on Monday, the market trend made many investors feel mixed emotions. After a positive morning session, the market suddenly adjusted strongly in the afternoon session with red spreading across many pillar stocks. Trading volume was at the average level of 20 sessions.

▶ At the end of the trading session, the VN-Index decreased by 8.24 points (-0.66%), reaching 1,246.35 points; the HNX-Index decreased by 2.71 points (-1.20%), reaching 222.95 points. Market volume reached VND 13.7 trillion, equivalent to about 565.2 million shares traded. Foreign investors were net purchase of VND 116 billion, mainly focusing on STB, VTP, DHT.

▶ Technical perspective: Following the market's decline at the end of the week, VN-Index continued to face pressure from the selling side and decreased by more than 8 points at the end of the trading session. VN-Index has now moved towards the EMA200 zone at 1,246 points, with a wide candlestick showing that the selling side is in control. At the EMA200 support zone, we expect buying pressure to appear to catch the bottom. If it continues to fail around this threshold, VN-Index may move towards the 1,200-1,230 point range for re-testing.

Strategy: Investors can consider reducing positions in stocks that violate technical signals. In the short term, the sideways trend is still maintained. Short-term trading strategies are still prioritized and it is necessary to consider the two support and resistance levels of 1,200 and 1,300.