Vietnam Insight

US stocks saw a steep fall. US stocks plunged on Friday as economic data raised concerns about a slowing US economy and persistent inflation, prompting investors to seek safer assets. The S&P 500 lost 1.7%, and the Nasdaq 100 slipped 2.1%, while the Dow Jones plunged 748 points, marking its biggest loss of the year. UnitedHealth shares plunged 7.2% following reports that the Department of Justice is investigating its Medicare billing practices, making it the worst-performing Dow component.

Approaching the 1300-point mark. VNINDEX closed at 1,296.75 (+3.77 points, +0.29%) with higher liquidity than 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.