Money flow indicator is still pointing up

Cash flow continued to operate strongly, pushing buying power to dominate, large-cap stocks regained momentum, and foreign investors maintained net buying for the third consecutive session.

At the end of the trading session on June 13, VN-Index increased by 6.44 points, equivalent to 0.58% to 1,122.46 points. The entire floor had 233 stocks increasing, the remaining 145 stocks decreasing, and 60 stocks remaining unchanged.

HNX-Index increased by 0.88 points, equivalent to 0.38% to 230.25 points. The entire floor had 137 stocks increasing, 64 stocks decreasing and 50 stocks remaining unchanged. UPCoM-Index increased by 0.47 points to 85 points. The VN30 basket alone recorded 16 stocks increasing in price.

The total matched value in the session reached VND20,284 billion, up 12% compared to the previous session, of which the matched value on the HoSE floor reached VND17,438 billion, up 14.2% compared to the previous session. The VN30 group was traded VND6,979 billion.

Investment Comments

TPS Securities: VN-Index had its third consecutive session of increase and entered the resistance zone of 1,120-1,130 points. Along with that, the market's trading volume quickly recovered and returned to above the 20-session average, thereby proving that the market is still attracting cash flow and this will be the driving force for the market's continued upward trend.

If the market can successfully conquer the above resistance zone, it will attract the attention of cash flow outside the market, especially savings when deposit interest rates have cooled down, thereby creating more motivation for VN-Index to move towards other highs.

Agriseco Securities: On the technical chart, after 3 consecutive sessions of increase, the index is approaching the 1,125 point zone. With the MFI money flow indicator still moving up, Agriseco Research expects the index to break through the above resistance in the upcoming sessions. However, it should be noted that the FED's announcement of interest rates and derivatives maturity simultaneously taking place on June 15 may indirectly affect market developments.

Investors can continue to hold stocks in sectors that have not increased strongly such as retail, steel and real estate, and on the contrary, they can reduce the proportion of small-cap stocks at the index's resistance level.

SHS Securities: The long-term market is still accumulating in a wide range from 1,000 points - 1,150 points and there will be an opportunity to form an uptrend if the VN-Index continues to accumulate around 1,150 points and then explodes beyond this mark.

SHS believes that short-term investors can still take advantage of the correction to surf. For medium and long-term investors, SHS recommends disbursing in the recent past, so if the structure is good, it is completely possible to continue holding at present.

In case of wanting to increase the proportion, investors can take advantage of buying in the correction phases. The target of disbursing medium and long-term investment should be towards leading stocks, stocks that are accumulating and not deeply adjusted, with expectations of continued business growth this year.

Stock news

- The US consumer price index (CPI) rose 0.1% month-over-month and 4% year-over-year. This is the lowest year-over-year increase since March 2021, when inflation had just begun to rise. However, when excluding food and energy, the US inflation picture is not so optimistic.

Core CPI rose 0.4% month-over-month and 5.3% year-over-year, indicating that although prices have cooled somewhat, consumer pressure remains high. The CPI figures released in May 2023 were in line with the forecasts of experts polled by Dow Jones.

- According to EVN, in the context of high electricity demand, the remaining coal shortage for thermal power production is about 1 million tons, allocated 600,000 tons in June and 400,000 tons in July .

Source