Vietnam Insight

Global stocks simultaneously declined. On Thursday, the Dow dropped 1.01%, while the S&P 500 and Nasdaq Composite lost 0.43% and 0.47%, respectively. Looking ahead, investors are focusing on the latest PMI readings and existing home sales data on Friday for more insight into the state of the economy

Approaching the 1300-point mark. VNINDEX closed at 1,292.98 (+4.42 points, +0.34%) with higher liquidity compared to the 20-session average. In the short-term trend, the market continues to rise towards the 1,300 zone with liquidity maintained above the average level. Although the market has surpassed the 1,280 resistance, the 1,300 zone that is being approached is a strong resistance zone that has been tested unsuccessfully many times. In a positive scenario, buying power needs to continue to increase to support the VN-Index in this test.

Trading Strategy: The market is currently in a short-term uptrend and approaching the resistance zone around 1,300. For short-term trading, investors can consider disbursing around this area and gradually taking profits when approaching 1,280 - 1,300 points. With a holding investment strategy, investors will only disburse strongly when the VN-Index breaks out and successfully defends the 1,300 point level.

Buy Recommendation: MBB