Stock Market Perspective for the Week of December 8 - December 12: Be careful of fluctuations as VN-Index heads towards the 1,800 point mark

The market has momentum and room to continue moving towards the target area around 1,800 points, however, investors need to stay close as technical corrections may occur.

In the first week of December, VN-Index recorded a positive increase, marking the 4th consecutive week of increase. The index closed the last session of the week at 1741.32 points, up 50.33 points (+2.98%) compared to the previous week.

Large-cap stocks continued to be the highlight supporting the index to conquer old resistance zones.

Specifically, Vingroup stocks are still the main pillar leading the index despite slight adjustments in 2 sessions this week, in addition to support from the Banking, Consumer - Retail groups. Demand also spread to small and medium-sized stocks such as securities, Real Estate, Rubber. In addition, liquidity in the sessions this week gradually improved compared to the average of 20 sessions.  

On the foreign side, after 18 consecutive weeks of net selling, foreign investors net bought VND4,419 billion on HoSE last week, positively supporting the performance of many stocks.

VN-Index is heading towards the old peak

Securities companies have provided technical analysis and comments on trading trends next week.

VCBS: Strengthening momentum for the uptrend

VN-Index ended the weekend session with a Spinning top candlestick, showing a tug-of-war in the market as the index approached the strong resistance zone around 1,770. On the daily chart, the index recorded fluctuations when approaching the resistance zone of 1,760-1,770. The RSI indicator broke horizontally in the high zone, however, the MACD indicator has not yet shown a signal of forming a peak, so it can be seen that this is a normal supply-demand test when the index is in strong resistance zones. The +DI line is above 25, however, the ADX line is below this mark, so the tug-of-war around the 1,730-1,750 zone to find a balance point will continue in the short term.  

On the hourly chart, the RSI and MACD indicators are pointing down from the high zone, so it is difficult to avoid short-term fluctuations when the index is under pressure at old resistance levels. The CMF indicator is gradually decreasing in height, but is still anchored above the 0 level, showing that active buying money is still moving in the market, thereby helping the VN-Index strengthen the momentum for the uptrend.  

VCBS assessed that VN-Index recorded a trading week of more than 50 points with the main effort still coming from Vingroup stocks, contributing 26 points to the market. The plus point of the week was that demand had spread to other sectors such as Banking, Retail - Consumption, Public Investment, and Securities.  

However, with the index advancing to strong resistance zones, the general sentiment is also somewhat more cautious with the tug-of-war happening continuously in the sessions of the week. VCBS recommends that investors review their portfolios and consider partial profit-taking for stocks that have reached the T+ surfing target, in addition to maintaining holding stocks in industries that attract cash flow and have not recorded a strong increase from the nearest support zone.

SHS: Aiming for good fundamental code

VN-Index has had 4 consecutive weeks of good gains, creating great momentum for the market throughout 2025. In the first week of December 2025, VN-Index maintained 5 sessions of slight gains, aiming for the price range of 1,750 points - 1,800 points. At the end of the week, VN-Index increased by 2.98% to 1,741.32 points, above the psychological support of 1,700 points. Meanwhile, VN30 increased by 2.68% to 1,975.95 points at the end of the week, aiming for the highest price range of October 2025, equivalent to 2,000 points - 2,055 points.

Short-term trend: VNINDEX grows above the psychological support zone of 1,700 points, heading towards the strong resistance zone of 1,750 points - 1,800 points, corresponding to the highest price zone in October 2025. VN30 is similar, the resistance zone is around 2,000 points. The market continues to see better improvements in trends and cash flow for many codes and groups of codes after a long period of adjustment and accumulation. However, the pressure to sell at high prices is increasing as VN-Index heads towards the old peak.  

Up to now, the outstanding increase of the VN-Index is partly due to the positive influence of Vingroup stocks. If we separate the influence of this group, the index in 2025 is having a price increase of about 11% compared to 2024, most of the market is having a less positive level in 2025, although business results still maintain relatively good growth...

This shows that the market still has many good opportunities when business results continue to maintain growth. SHS will evaluate growth opportunities based on key factors including GDP 2026 target growth of 10% or more through maintaining credit growth and promoting public investment; The market is upgraded and foreign investors return to net buying after consecutive net selling;   Increase the supply of high-quality goods through divestment, IPO... However, there is no recommendation to buy when VN-Index is heading towards the old peak price range of 1,750 points - 1,800 points.

Investors maintain a reasonable proportion. Investment targets stocks with good fundamentals, leading in strategic industries, and outstanding growth of the economy .

TPS: Will continue to fluctuate in the 1,700 - 1,800 point range in the short term

Up to now, VN-Index has recorded a strong recovery from the 1,580 point area and successfully broke through the important resistance level of 1,700 points. This development opens up room for the index to continue moving towards the target area around 1,800 points, corresponding to the completion point of the Falling Wedge model.  

However, the possibility of technical corrections in the uptrend is entirely possible. In that case, the 1,700 point area - previously a resistance - has now turned into an important support area. Combining the above factors, VN-Index is likely to continue to fluctuate within the range of 1,700 - 1,800 points in the short term.

The HNX-Index is still moving sideways in the range of 256 to 271 points. Profit-taking pressure appeared in the trading session on December 5, 2025 after the HNX-Index touched the resistance of 262 points - corresponding to the 20-day MA. Correction pressure at the short-term resistance zone is a common phenomenon in the market, so TPS assesses that this trading session is normal. In the next trading session, if the short-term support level of 260 points - corresponding to the MA10 is still maintained, the HNX-Index still has room to continue its uptrend.

AseanSc: Shaking under the influence of supply force around the historical peak

VN-Index formed a Bullish Marubozu candle on the weekly chart, however, the trading volume was still equivalent to the previous 3 weeks and significantly lower than the liquidity background in the period from August to October 2025.  

AseanSc believes that VN-Index will fluctuate due to the influence of supply around the historical peak. The near support is the 1,720 +/- area while the near resistance is the price threshold of 1,760 - 1,770.

With the short-term trading school, investors with a large cash ratio can disburse part of their money during fluctuations, prioritizing stocks that are moving in a short-term uptrend on the technical chart, in the fields of Real Estate, Banking, Securities, Retail - Consumption,...

With the long-term buy and hold school, investors prioritize holding, focusing on leading stocks and maintaining profit growth prospects in the 2025 - 2026 period.

Source: https://baodautu.vn/goc-nhin-ttck-tuan-812---1212-can-trong-rung-lac-khi-vn-index-huong-den-moc-1800-diem-d453232.html