Profit-taking pressure may not stop yet

(NLDO) - After an impressive price increase, Vietnamese stocks have shown signs of profit-taking, and this trend may continue.

At the end of the session on November 7, the VN-Index closed at 1,259 points, down 1.5 points.

Following the 15-point increase of the previous session, stocks opened on November 7 in the green with quite positive stock demand.

However, after the VN-Index reached 1,267 points, the market fluctuated due to profit-taking pressure after many stocks increased impressively in the previous session. However, due to weak selling pressure and cash flow spreading to some industry groups, the market only fluctuated within a narrow range.

Stock movements in the afternoon session were similar to the morning session. In the second half of the session, selling pressure gradually overwhelmed the spread of red, causing the general index to gradually fall below the reference level.

At the end of the session, VN-Index closed at 1,259 points, down 1.5 points, equivalent to 0.12%.

With the above developments, VCBS Securities Company recommends that investors take profits from stocks that have reached their profit targets, not chase stocks at high prices, and take advantage of market fluctuations to partially disburse stocks with stable demand.

Dragon Viet Securities Company (VDSC) believes that cash flow is still cautious when the market approaches the resistance zone of 1,267 points. This signal may put pressure on the market to retreat in the next trading session.

"Investors need to observe the efforts of cash flow, can consider buying stocks that show signs of attracting cash flow, and at the same time take profits on some stocks that have increased in price in recent days" - VDSC advises.

Source: https://nld.com.vn/chung-khoan-ngay-mai-8-11-ap-luc-chot-loi-co-the-chua-dung-lai-196241107175328071.htm