1,300 points is not the leading zone, stock investors should limit chasing buying

The stock market had a volatile trading week within a narrow range. Photo: Duc Manh

After a week of good recovery in the 1,245-point support zone, the stock market had a week of trading within a narrow range. At the end of the week, the VN-Index decreased by 0.18% compared to the previous week to 1,280.75 points. Trading volume increased quite strongly with 32.91% at HOSE and 31.66% at HNX, partly reflecting the short-term rotation, alternating recovery through each group of codes.

Foreign investors continued to net sell with 4,501 billion VND at HOSE, focusing on FPT code (1,732 billion), besides net selling MWG code (644 billion), VHM (521 billion) and MSN (508 billion)... On the opposite side, they net bought HDB code (473 billion), TNH (163 billion)...

The industry group that decreased points this week was information technology with typical codes such as FPT (-3.53%), CMG (-0.62%), ICT (-8.61%), ITD (-4.1%)... Beer stocks traded in red with SAB (-3.45%), BHN (-2.17%)... On the contrary, Vingroup stocks improved at the end of the week with information about the settlement of a bond lot worth 500 million USD...

The analysis team from SHS Securities Company believes that the market is accumulating positively. If there are no new uncertain negative factors, VN-Index is expected to head towards the resistance zone around 1,300 points when factors such as global geopolitical tensions, inflationary pressure, exchange rates, and foreign net selling cool down.

The short-term trend of VN-Index is still accumulating in the range of 1,250 - 1,300 points. In the positive case, if VN-Index recovers well in the short-term support zone of 1,270 - 1,275 points, the possibility of returning to test the fairly good zone of 1,300 points is still possible. Therefore, SHS recommends that short-term investors should maintain a reasonable proportion, and should not chase when VN-Index is heading towards 1,300 points because this is not a really attractive price range. When VN-Index continues to adjust, if the proportion is below average, disbursement can be considered. The target is leading stocks, forecasted to have good growth in Q2 business results, and positive prospects at the end of the year.

Medium- and long-term investors should hold current portfolios, consider increasing new positions, and carefully evaluate based on second quarter business results and year-end prospects of leading enterprises.

According to experts from Vietcombank Securities Company (VCBS), although the market is relatively cautious at this time, the selling liquidity is not too large, so the VN Index is expected to soon regain momentum towards the 1,300 mark. Investors should simultaneously remove weak stocks from their portfolios as well as increase the proportion of stocks with stable momentum and maintaining a positive upward trend in some industry groups such as steel and rubber.

Source: https://laodong.vn/kinh-doanh/1300-diem-chua-phai-vung-dan-nha-dau-tu-chung-khoan-han-che-mua-duoi-1365829.ldo