► Stock market commentary for the week of October 14-18: VN-Index may surpass the psychological threshold of 1,300 points
Buy recommendation for VGI stock
Tien Phong Securities Joint Stock Company (TPS) recommends buying shares of Viettel International Investment Joint Stock Corporation (VGI), target price of VND 91,000/share based on the following technical analysis: VGI shares, after entering a correction trend from July, showed signs of stopping by September and shifting to a range-bound trend (from VND 60,000 - 70,000/share).
Liquidity in the period from July until now has shown signs of decreasing, followed by the average liquidity of the last 20 sessions also continuously decreasing. This shows that VGI stock is entering the base accumulation phase and waiting for an opportunity to continue the uptrend after the adjustment.
In terms of the indicators, the EMA line is currently showing signs of moving sideways - supporting the base accumulation trend of VGI. The MACD line is showing signs of moving up from the 0 price zone, indicating that the uptrend of VGI may return in the near future. The RSI indicator is also showing signs of moving up above the 60,000 VND/share zone, indicating that the strength of VGI stock is gradually being consolidated and developing towards higher price zones.
With the R/R ratio at 4.29 and the positive nature of the indicators, TPS recommends that investors consider trading VGI shares according to the scenario: Buy VGI immediately at VND 65,000/share, or wait to buy shares at the old price base at VND 60,500/share.
Buy recommendation for LCG stock
Smart Invest Securities Company (AAS) recommends buying shares of Lizen Joint Stock Company (LCG), target price of VND 13,700/share according to investment thesis: Benefiting greatly from the Government 's plan to promote public investment disbursement: According to the Government's 2024 plan, public investment disbursement is expected to grow by 12% over the same period to VND 638,000 billion, mainly contributed by strategic projects such as the North-South Expressway, Long Thanh airport and Ring Road 3 (HCMC).
In the first half of this year, public investment disbursement completed about 37% of the annual plan due to problems related to site clearance and lack of construction materials such as sand and stone. AAS assessed that capital disbursement could be more positive in the second half of the year and reach 70-80% of the plan thanks to problems that can be partly resolved: (1) The new Land Law will be applied from August 2024 with specific regulations that will help resolve problems in the process of compensation, site clearance and conversion of land use purposes of investors in implementing public investment. (2) The Government is determined to disburse public investment: The Prime Minister is requesting ministries, central agencies and localities to implement the planning of medium-term public investment for the period 2026-2030.
In 2024 alone, AAS believes that LCG's three largest projects, the Vung Ang - Bung, Nha Trang - Van Phong expressways and Ring Road 4, have started construction. The large area of land handover ensures good construction output and performance in the next 2 years.
Nha Trang – Van Phong Expressway: the project has handed over 100% of the land and is under construction. By the end of 2023, LCG will have 10km of asphalt, 8/9 bridge girders, construction output reaching 35%.
Vung Ang – Bung: The project has started construction and handed over 98% of the site. By the end of 2023, the joint venture will mainly construct bridges and culverts, with a construction speed of 30%.
Beltway 4 (LCG's work): started construction in 2023, site clearance reached 84%.
Source: https://vov.vn/thi-truong/chung-khoan/mot-so-co-phieu-can-quan-tam-ngay-1210-post1127880.vov
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