Supply pressure remains quite high.

Investment analysis

Viet Dragon Securities (VDSC): The current upward trend may help the market move towards and retest supply in the 1,285 – 1,290 point range. However, supply pressure in this area is expected to remain quite high and could cause contentious market movements.

Therefore, investors need to observe supply and demand developments at resistance levels to assess the market's state. Currently, priority should be given to stocks showing positive cash flow signals from support levels, and investors should consider restructuring their portfolios to minimize risk during any recovery.

VN-Index performance on October 9th (Source: FireAnt).

Agribank Securities (Agriseco): The VN-Index extended its gains and bounced up from the equilibrium zone around the 20-day moving average. Slightly improved liquidity and widespread green could be the driving force helping the index extend its upward trend before divergence occurs. Agriseco expects the VN-Index to re-establish a short-term uptrend and advance to the 1,300-point region in the October 10th session and subsequent sessions.

Agriseco recommends that investors continue to hold their portfolios, and may open T+ trading positions during intraday fluctuations. Prioritize sectors expected to have strong Q3/2024 earnings, such as banking, retail, and livestock. Note that maintaining a low proportion of short-term positions is crucial for portfolio risk management.

Asean Securities (Aseansc): The influx of capital is creating greater consensus. The market's upward movement has slowed down, with alternating periods of consolidation and upward movement, after reaching a good equilibrium around 1,270 points. The index continues to fluctuate around 1,283 points and tends to retest the previous peak of 1,300 points.

According to Aseansc, although the increase in many sectors is not yet significant, the market is broadly positive and demand has improved, indicating that the risk of a downward trend has gradually decreased. In the medium and long term, Aseansc maintains a positive outlook on the market prospects.

However, investors should be aware of the potential risks that may arise from negative news regarding US stocks. Therefore, it is crucial to closely monitor global markets to confirm how long the upward trend can continue. Investors should focus on stocks with strong fundamentals and have sufficient cash ready to invest when these stocks reach attractive levels.

Investment recommendations

- GMD (Gemadept Corporation): Awaiting sale.

Cargo throughput at Gemadept's ports, including Nam Dinh Vu and Gemalink, is expected to see positive growth in Q3 2024.

TCBS assesses that the company's core business will experience positive growth this year thanks to recovering demand for goods, especially during the year-end peak season, along with increased handling service fees.

Given this outlook, investors can continue to hold the stock, waiting for an opportunity to take profits.

- DPR (Dong Phu Rubber Joint Stock Company): Waiting to be sold.

DPR plans to pay a cash dividend for 2023 at a rate of 15% of par value, with the ex-dividend date being October 22, 2024 and the payment date December 20, 2024.

Vietnam's rubber exports in September reached approximately 250,000 tons, worth $424 million, an increase of 29.2% in volume and 68.4% in value compared to September 2023.

With domestic rubber prices continuing to rise in the first week of October, TCBS assesses the market as favorable for rubber manufacturing companies; investors should continue to hold their shares.

Source: https://www.nguoiduatin.vn/lang-kinh-chung-khoan-9-10-ap-luc-nguon-cung-con-kha-lon-204241009162113411.htm