Better to defend than to buy at the bottom early

Investment comments

Rong Viet Securities: Despite the supportive moves from the end of last week, the market is still cautious as it enters the new week. The market gradually retreated during the session on the basis of low liquidity. Liquidity decreased, showing that cash flow is still cautious.

Currently, the support signal is not convincing, and the overall trend is still negative, so it is likely that VN-Index will face difficulties in the coming time until the supporting cash flow improves. Therefore, investors still need to be cautious with the market's downward trend. Currently, it is still advisable to keep the portfolio proportion at a reasonable level to prevent risks.

VCBS Securities: From a technical perspective, VN-Index closed the session forming a red candle, falling back to the 1,040 point area.

VCBS recommends that investors proactively increase their cash ratio and maintain a defensive mindset rather than buying at the bottom early at the present time. The VN-Index is still under great pressure from the net selling of many large-cap stocks and it will be difficult to find a balance in the short term.

BOS Securities: Technically, the sharp decline in VN-Index after the previous recovery session shows that demand is not strong enough to absorb the supply from the price range around 1,050 points. The score is therefore forecast to continue to decline and move towards the support range of 1,020 - 1,030 in the next session. Investors are advised to continue staying out of the market.

The loss of the 1,050 mark along with the lowest closing price of the session shows that the sellers have the complete advantage and the score is likely to continue to maintain the downtrend, heading towards the 1,020 point area. Traders holding short positions continue to hold, setting the position protection threshold at 1,055 points.

Stock news

- The Fed's preferred inflation measure rose 3.7% in September. The US Commerce Department said inflation remained high in September 2023 as consumers spent more than expected. In September 2023, the core personal consumption expenditures (PCE) index - the Fed's preferred inflation measure - rose 0.3% from the previous month. However, compared to the same period last year, the core PCE increased 3.7%, 0.1 percentage point lower than in August 2023.

- Japanese stocks closed mixed with major markets in Asia- Pacific as the Nikkei fell nearly 1% on concerns that any hawkish move by the BOJ would herald the end of the loose monetary policy that Japanese stocks have enjoyed for nearly a decade .

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