Investment Comments
KB Securities Vietnam (KBSV) : The correction status appeared widely across most industry groups, showing strong profit-taking selling pressure, overwhelming in most trading sessions and the correction inertia may continue to impact the index in the coming sessions.
However, after a long series of increases, the above developments are understandable and the index's upward trend is expected to soon return under the positive movement of cash flow with the near support level set around 1,240 (+-5) points.
Yuanta Vietnam Securities (YSVN) : The market may return to an uptrend and the VN-Index may retest the resistance level of 1,268 points. At the same time, the market shows signs of entering a short-term accumulation phase, so cash flow may be differentiated between groups of stocks.
In addition, there are short-term risks, but YSVN believes that the market is not yet in a worrying stage and mainly only shows a correction when the market is at a short-term resistance zone and technical indicators increase into the overbought zone.
Vietcombank Securities (VCBS) : On the daily chart, trend indicators show that the market is still in a medium-term uptrend and market corrections and fluctuations are necessary for the VN-Index to continue moving towards the peak areas.
On the hourly chart, after forming a negative divergence, MACD and RSI are both pointing down, along with ADX and DI+ trending below 25, showing that the probability of VN-Index shaking strongly in the short term is entirely possible.
Stock news
- US stocks plunge as tech stocks sell off. US stocks fell sharply on Tuesday (March 5), as large-cap tech stocks like Apple dragged the indexes down from their recent record highs. At the close, the Nasdaq fell 1.65% to 15,939.59 points. The gauge, with the largest share of tech stocks, was hit the hardest as the tech group led the decline in the overall market.
- After breaking the historical peak, Bitcoin plummeted, at one point breaking the $60,000 mark. According to Coin Metrics, the price of Bitcoin peaked at $69,210 on Tuesday morning and then quickly dropped, at one point even breaking the $60,000 mark and is currently around $63,400.
Investor interest has increased since the US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs in late January. Since then, Bitcoin prices have reversed course and recently fell about 7% to around $63,400. “Bitcoin’s all-time high marks a turning point for crypto,” said Nathan McCauley, CEO and co-founder of crypto platform Anchorage Digital. Bitcoin has emerged as the main growth driver of the crypto market .
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