The 1,174 level is an important resistance.

Investment comments

Beta Securities: Note that the market is increasing but the liquidity of matched orders is decreasing, so the cash flow is not really convincing, especially when the market only has a few more trading sessions before entering the long holiday, so there will be a group of investors choosing to rest before the holiday.

However, in the current period, instead of focusing only on the fluctuations of the index which are easily influenced by psychology in investment decisions, investors with a high cash ratio and a medium- and long-term vision can take advantage of fluctuations and adjustments to accumulate stocks of businesses with good foundations and positive business prospects this year.

KB Securities Vietnam (KBSV) : The index is forecast to soon face a challenge at the lower limit of the resistance zone of 1,185 points (+/- 10 points) and this is still a difficult barrier to overcome in the short term.

Investors are still advised to limit chasing purchases, only placing partial purchase orders for some target codes that have reached support or when the index drops to the support zone near 1,150 points (+/-5 points).

Tien Phong Securities (TPS) : Currently, the necessary and sufficient condition for the market to enter a new uptrend is that the index will return above the 7-day SMA . Looking at the 1-hour chart, it can be seen that the condition is that the 7-day SMA is in line with the 20-hour SMA.

Therefore, the 1,174 point level is an important resistance that the index needs to overcome soon to regain short-term growth.

Stock news

- Footwear exports will bring in more than 20.2 billion USD in 2023. According to statistics from the General Department of Customs, Vietnam's footwear exports in December reached more than 1.8 billion USD, down 3.6% compared to the previous month. Thus, by the end of 2023, footwear exports will have brought in more than 20.2 billion USD, down 15.3% compared to 2022.

- Agricultural, forestry and fishery export turnover increased sharply in the first month of the year. In January 2024, the total agricultural, forestry and fishery export turnover reached 5.14 billion USD, up 79.2%; imports reached 3.72 billion USD; trade surplus was 1.43 billion USD, up more than 4.6 times over the same period .

Source