Selling pressure may remain overwhelming

(NLĐO) - The supply of shares was very strong in the afternoon trading session on January 6th, and this trend may not stop yet.

At the close of trading on January 6th, the VN Index closed at 1,246 points, down 8 points, or 0.66%.

Vietnamese stocks maintained their positive momentum throughout the morning trading session on January 6th, driven by a recovery in banking stocks, with the most notable being VCB (+1.1%) and BID (+1.6%). However, liquidity remained low, indicating somewhat sluggish trading activity.

Entering the afternoon session, market sentiment was low, and selling pressure from mid- and small-cap stocks was very strong. As a result, the overall index faced significant pressure and was forced to decline.

At the close of trading, the VN Index settled at 1,246 points, down 8 points, or 0.66%.

According to VCBS Securities Company, the general index has not yet formed a bottom, and selling pressure may continue in the coming sessions. Investors need to be cautious in their disbursements, paying attention to profit-taking and stop-loss levels to manage risk.

Rong Viet Securities (VDSC) believes that the supply of shares is putting pressure on the market as supporting capital flows remain cautious. Rapidly falling stock prices have pushed the market into a short-term oversold zone. The possibility of further declines in the next trading session is high. The market is expected to find support at the 1,240 point level and recover to test supply and demand before a more concrete signal emerges.

"Investors should slow down and observe supply and demand at the support level, temporarily restructuring their portfolios by reducing their holdings to minimize risk," VDSC advised.

Source: https://nld.com.vn/chung-khoan-ngay-mai-7-1-luc-ban-co-phieu-co-the-ap-dao-196250106175411149.htm