Stock market perspective week 11/10 - 11/14: Be careful of margin pressure

During this period, prioritizing risk management and continuing to closely monitor market developments are important recommendations for investors.

VN-Index had a volatile trading week. Cash flow last week continued to be differentiated between industry groups when selling pressure mainly came from large-cap stocks in the securities, banking and Vingroup sectors, causing the general index to continue to be under downward pressure.  

On the contrary, cash flow is more active in mid- and small-cap stocks, especially in stocks that have not had strong growth momentum in recent times, such as rubber, telecommunications, and oil and gas.  

In the last session of the week, VN-Index closed at 1,599.10 points, down 43.54 points (-2.65%), equivalent to a decrease of 40.55 points (-2.47%) compared to the previous week.

VN-Index performance.

After a week of sharp declines in trading, securities companies gave comments on the market outlook for next week.  

VCBS: Prioritizing risk management

VN-Index ended the weekend trading session with a red candle, along with slightly reduced liquidity, showing that the selling side is still dominating the market along with a lack of bottom-fishing demand.  

On the daily chart, the MACD and RSI indicators continue to point down, so there is no sign of a reversal in the downtrend, although the index has retreated to near short-term support around the nearest old bottom, equivalent to 1,580 points (MA100 of the market). In addition, the ADX indicator and the -DI line remain above 25, showing that the correction trend has not shown any signs of stopping, somewhat reinforcing the above assessment.

On the hourly chart, the MACD and RSI indicators are continuing to trend down, so there is a high possibility that the market will continue to correct in the next trading session. However, the RSI indicator has reached the oversold zone, so the general index is expected to have a technical recovery in the next session around the 1,580-1,590 zone, which coincides with the lower border of the Bollinger Band.  

The sharp decline last weekend, accompanied by active selling pressure spreading widely across all sectors, is a clear signal that pessimism and caution are covering the entire market. Most of the recovery efforts of the previous sessions have been erased, showing that the sellers are completely dominant in the short term.  

In the context of strong market fluctuations, VCBS recommends that investors prioritize risk management, specifically continue to closely monitor market developments to have timely reactions, at the same time review the portfolio and resolutely restructure, especially for positions that have reached the stop-loss threshold. Preserving purchasing power and maintaining a stable mentality in the current context will help investors take better advantage of market recoveries to restructure the portfolio as well as seek short-term profits.

TVS: Margin call pressure and low liquidity

The VN-Index on November 7 fell 44 points, closing at 1,599.1 points (-2.7%). Selling pressure occurred throughout the entire session and spread across most industry groups in the market. Liquidity during the session remained low compared to the average value of the last 10 sessions.

TVS Research believes that the market's downward trend will continue in the coming sessions due to a number of factors such as: Margin call pressure has begun to appear and may continue in the coming sessions and low market liquidity shows that bottom-fishing cash flow is weak and investors' cautious sentiment may negatively impact the index's recovery ability.  

In addition, the VN-Index has broken the support level of 1,600 and gone down, reinforcing the market's downtrend. TVS believes that the next support zone of the VN-Index is around the old peak, equivalent to about 1,530 - 1,550. Therefore, investors should not open new buy orders in the next sessions and need to closely monitor the development of the VN-Index.

PHS: Continue to stand outside and observe

VN-Index closed the session on November 7 with a red Marubozu candle and retreated below the 1,600-point threshold. The hesitant sentiment still dominated the buying side, causing the market to lack support at this support level and the victory was tilted towards the supply side. However, the decrease was not too far from this psychological threshold, along with the liquidity remaining low, indicating the possibility of a return to testing or continuing to struggle around here. Lower support for the trend is around the 1,540 - 1,550 point area, while the resistance in the recovery direction is the 1,660 - 1,680 point area.

For HNX-Index, supply force also dominated, pushing the index back to support 260. Liquidity has not changed too much, showing that trading will likely return to a tug-of-war to continue testing the 255 - 260 area.  

PHS recommends that investors who have brought their accounts to a safe level should continue to stay out and observe the market. The new buying trend is only suitable for the surfing taste (quick entry, quick exit). With this taste, investors can monitor the possibility of creating a second bottom in industry groups and stocks when they return to test good support, notably: Oil and Gas, Export, Utilities, Technology.

SHS: Limit price gouging

At the end of the week, VN-Index closed below 1,600 points, the 1,600 - 1,620 zone changed its role to near resistance; the short-term balance point fell to 1,550.  

In the base scenario, the index fluctuates and accumulates low around 1,550 - 1,600 when liquidity has not improved. In the opposite scenario, if cash flow recovers and the index consolidates 1,600 points sustainably, the target of retesting 1,630 - 1,660 points can open; on the contrary, losing 1,550 points with increased liquidity is a signal to reduce the proportion and manage risks closely.  

One bright spot this month is the number of new accounts opened. VSDC data shows that in October 2025, the entire market opened nearly 311,000 new investor accounts; a cumulative increase of nearly 2.1 million accounts in 10 months.  

Despite the price correction, the medium-term demand base from new investors continues to accumulate, acting as a buffer for the recovery phase when liquidity conditions simultaneously improve psychologically.  

In the context of falling points with low liquidity, investors should prioritize moderate proportions, focus on fundamental businesses, reasonable valuations; limit chasing prices in the 1,600 - 1,620 range unless seeing large cash flows returning. Manage risks according to the 1,550 mark. On the positive side, when firmly consolidating 1,600 with increased liquidity, investors can consider gradually increasing proportions.  

Source: https://baodautu.vn/goc-nhin-ttck-tuan-1011---1411-can-trong-ap-luc-margin-d430993.html