Investment Comments
KBSV Securities: VN-Index experienced a slight decline with a wide range before recovering somewhat towards the end of the session. Selling pressure weakened somewhat and bottom-fishing demand increased around the support level near 1.07x, helping the index avoid a deep decline.
However, with the downtrend still playing a dominant role, the VN-Index is facing the risk of falling back to a deeper support level around 1,055 before having a clearer chance of recovery. Investors are recommended to restructure their portfolio to a safe level and only partially increase their weight back around the distant support level.
Asean Securities SC: The general market's decline continues as large cash flows do not enter the market. In addition, the statistics of third quarter business results up to now are lower than expected, causing most individual investors to hesitate to return to the market.
The analysis team believes that the market will likely need to retest the support zone near 1,080 - 1,090 points in the next session. Therefore, investors should continue to maintain the average stock proportion, limit transactions and wait for clearer signals from cash flow.
PSI Securities: The technical chart of VN-Index is a bearish Marubozu candlestick, showing that selling pressure is still relatively strong. Liquidity continues to be low and below the 20-session average, showing cautious sentiment from investors.
Currently, the resistance zone of the VN-Index will be the 1,070 - 1,085 point zone. In addition, the RSI indicator is currently in the oversold zone, so there is a high possibility that there will be technical recoveries in the next trading sessions.
The current appropriate recommendation is to only restructure short-term stock portfolios during market recovery periods, and avoid dumping stocks during market fluctuations.
Stock news
- The price of steel for January 2024 delivery on the Shanghai Stock Exchange decreased by 59 yuan to 3,570 yuan/ton at the time of survey at 10:00 (Vietnam time).
- The export price of 5% broken rice from Vietnam returned to 643 USD/ton, the highest price during the rice price fever established in early August .
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