Stocks may continue to rise this week

The stock market has just had another exciting trading week with 4 sessions of increase and 1 session of decrease, accumulating nearly 40 points. The index representing the Ho Chi Minh City Stock Exchange closed the weekend session at 1,497 points, only about 30 points, or 2%, away from the historical peak. The biggest highlight last week was that the VN-Index returned to the 1,500-point price range after more than 3 years. This development only happened in a split second, because profit-taking pressure at high prices immediately appeared, causing the index to narrow its increase range.

Many analysis groups agree that the VN-Index is in an uptrend, but cannot avoid the possibility of a technical adjustment this week. In a recent market update report, Phu Hung Securities Company gave 3 important points in the current period. Specifically, the VN-Index will fluctuate strongly to consolidate the price base of 1,500 points. The higher resistance target is the old peak of 1,530 points, while the short-term support level is at 1,450 points.

The analysis team of Saigon - Hanoi Securities Company (SHS) is also confident about the possibility of reaching the price range of 1,500-1,537 points. In a less positive scenario, this team believes that the support level is 1,480 points, which means an adjustment of about 20 points compared to the current level.

Not long ago, SHS predicted that the VN30 index would find it difficult to surpass its historical peak in 2021. In fact, the index representing the large-cap basket has surpassed its own peak and created momentum to lead the VN-Index to continue to rise.

"The action at this time should be "trend following" (holding according to the growth trend), while evaluating investment opportunities in industry groups considered the main growth drivers for the economy with the target of GDP increasing by over 8% in the last 6 months of the year," the SHS analysis group suggested. The group added that the investment target should be towards stocks with good fundamentals, leading in strategic industries and with the ability to grow outstandingly.

Most securities companies are confident about the market's performance this week. However, they still recommend investors avoid getting too excited. According to Yuanta Vietnam Securities Company, market sentiment is entering the "overly optimistic" zone, so the opportunity for disbursement is gradually narrowing, while short-term risks tend to increase.

"We note that short-term investors can stop buying and consider reducing part of their stock holdings to preserve results and reduce risks," this analysis group recommended.

For investors holding for 1-5 months, Yuanta believes that the medium-term trend remains bullish and the risk is low. Therefore, investors can hold a high proportion of stocks and continue to take advantage of the correction to increase the proportion of stocks.

Similarly, Phu Hung Securities believes that investors should pay attention to the fluctuation range of the coming sessions. If liquidity continues to improve but the index cannot break away from the 1,500-point threshold, the market will potentially face the risk of a reversal.

VCBS also believes that the appropriate trading strategy at this time is to continue observing the market, limit chasing or increasing the proportion of "hot" stocks in recent sessions.

For investors who need to disburse new funds, analysts suggest that they should take advantage of the corrections and fluctuations in the session rather than chasing the market. The priority sectors are real estate, securities, banking, technology and public investment. These are considered to be sensitive to the "money pumping" trend as well as the low interest rate environment.

VnExpress

Source: https://baohaiphongplus.vn/chung-khoan-tuan-nay-co-the-tang-tiep-416852.html