Avoid buying at the derivatives expiration date.

Investment analysis

Saigon - Hanoi Securities (SHS) : In the short term, the market continues to maintain a consolidation phase. SHS still expects a further upward movement. If the VN-Index forms a new upward movement, it will create the first upward move in the medium-term consolidation channel, with resistance levels at 1,080 - 1,200 points and further at the upper resistance of the consolidation channel at 1,250 points.

On the other hand, the sideways movement is tight, and the VN-Index is very likely to form a new short-term uptrend. Short-term investors who disbursed funds during the volatility on January 17th should continue to hold their portfolios with an average weighting.

Yuanta Securities Vietnam : The market is likely to continue its upward trend on January 18th, and the VN-Index is expected to remain within a narrow range around its current level in the next session.

At the same time, the market is still in a short-term accumulation phase, so the price chart of the VN-Index may not be able to completely break through the resistance level of 1,169 points in the January 18th session. However, short-term risks are showing signs of increasing for large-cap stocks, suggesting that large-cap stocks may continue to correct in the coming trading sessions.

Additionally, the sentiment indicator showed a slight increase but remained in pessimistic territory, suggesting that investors are still cautious ahead of the derivatives expiration date.

Beta Securities : From a technical perspective, the short-term positive trend of the VN-Index is still being maintained as the index line is above the MA10 and MA20 lines. Currently, the 1,140 – 1,150 point range will act as support for the VN-Index.

The trading session on January 18th is the derivatives expiration session, so the market is likely to experience strong and unpredictable fluctuations. Therefore, investors should be cautious in trading and avoid chasing stocks that show signs of rapid increase to prevent pressure for corrections when profit-taking demand rises.

Stock market news brief

- US stocks fell as bond yields rose and oil prices fluctuated. The US stock market declined as government bond yields rose and investors scrutinized the latest earnings reports. At closing, the Dow Jones index fell 231.86 points, or 0.62%, to 37,361.12 points. The S&P 500 index fell 0.37% to 4,765.98 points. The Nasdaq index dropped 0.19% to 14,944.35 points.

- The world's second-largest economy released its latest report, revealing its 2023 GDP growth figures, with fourth-quarter data falling short of market forecasts. China's National Bureau of Statistics announced that its GDP grew by 5.2% in the fourth quarter of 2023 compared to a year earlier. This figure is lower than the 5.3% forecast in a Reuters poll .

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