Forecasts for the coming trading week suggest that the VN-Index may continue its upward trend with a small amplitude, interspersed with periods of volatility as it approaches the 1,300-point resistance level.
The stock market recorded a relatively positive trading week. The main index saw an impressive recovery during the week, rising from 1,240 to 1,280 points. The upward momentum slowed somewhat towards the end of the week as the market experienced unexpected volatility due to increased selling pressure. This was also the session where foreign ETFs restructured their portfolios, with the index briefly falling 15 points in the ATC (After-Trading Closing Time) as ETFs heavily sold stocks such as VIX, EVF, VHM, VNM, VCB, VIC, SSI, etc.
Perhaps the most positive aspect of the past week was the reversal in foreign investors' trend, with net buying reaching 1,230 billion VND over almost the entire trading week.
At the end of the week, the VN-Index increased by 20.33 points (1.62%) compared to the previous week, reaching 1,272.04 points.
According to Agriseco Research, on the technical chart, the VN-Index has found equilibrium at the 1,240-point support level, recovering with improved liquidity and regaining key moving averages. The market's strong recovery over four consecutive sessions without any significant fluctuations is understandable given investor apprehension, especially as the index approaches the sensitive resistance zone of 1,295-1,300 points. This marks the fifth attempt by the index to break through this resistance zone after four previous failures in 2024.
Therefore, the forecast for the coming trading week is that the VN-Index may continue its upward trend with a low amplitude, interspersed with periods of volatility as it approaches the 1,300-point resistance level.
Against the backdrop of a stable macroeconomic environment, positive earnings growth in Q2/2024, and the expected approval of Non-Pre-funding, which could boost the potential for market upgrade, Agriseco Research anticipates that the Vietnamese stock market will maintain its positive trend in the remaining months of 2024.
Specifically, the Retail, Banking, Export, Chemicals, Food and Beverage, Oil and Gas, and Industrial Real Estate sectors are expected to experience positive profit growth in Q3/2024.
Furthermore, in the context of global central banks beginning to implement loose monetary policies, keeping interest rates low, investors can also monitor stocks in the Securities, Construction, and Residential Real Estate sectors when they are offered at a suitable discount, as lower interest rates and borrowing costs can positively impact the profit margins of businesses in these sectors.
Notably, current capital flows are trending towards blue-chip stocks, driven by expectations of market upgrades and a potential reversal in foreign investment flows in the coming period. Among these, the banking and securities sectors could be key drivers of the market in the near future.
Source: https://baodautu.vn/goc-nhin-ttck-tuan-23-279-tang-voi-bien-do-thap-d225567.html
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