Profit-taking pressure may not be over yet.

(NLĐO) - After an impressive price increase, Vietnamese stocks are showing signs of profit-taking, and this trend may continue.

At the close of trading on November 7th, the VN-Index closed at 1,259 points, down 1.5 points.

Following the 15-point increase from the previous session, the stock market opened on November 7th in positive territory with fairly strong buying demand.

However, after the VN-Index reached 1,267 points, the market fluctuated due to profit-taking pressure following impressive gains in many stocks the previous day. Nevertheless, because selling pressure was relatively weak and capital flowed more freely across several sectors, the market only fluctuated within a narrow range.

Stock movements in the afternoon session were similar to the morning session. In the latter half of this session, selling pressure gradually overwhelmed the market, with red spreading and causing the general index to fall below the reference level.

At the close of trading, the VN-Index settled at 1,259 points, down 1.5 points, or 0.12%.

Given the above developments, VCBS Securities Company recommends that investors take profits on stocks that have reached their profit targets, avoid chasing stocks at high prices, and take advantage of market fluctuations to gradually invest in stocks with stable demand.

Rong Viet Securities (VDSC) believes that capital flows remain cautious as the market approaches the resistance level of 1,267 points. This signal could put downward pressure on the market in the next trading session.

"Investors should observe the flow of money, consider making exploratory purchases of stocks showing signs of attracting capital, and at the same time take profits on some stocks that have risen in price in recent days," VDSC advised.

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