It is forecasted that in the coming trading week, the VN-Index may continue its upward trend with low amplitude, alternating with fluctuations as it approaches the 1,300-point resistance zone.
The stock market recorded a relatively positive trading week. The main index recorded an impressive recovery during the week from 1,240 to 1,280 points. The increase slowed down somewhat at the end of the week when the market recorded unexpected fluctuations due to increased selling pressure. This was also the session when foreign ETFs restructured their portfolios, the index at one point dropped 15 points in the ATC when ETFs sold heavily on codes such as VIX, EVF, VHM, VNM, VCB, VIC, SSI...
The most positive point last week probably came from foreign investors reversing to net buy up to 1,230 billion VND during most of the trading week.
At the end of the week, VN-Index increased by 20.33 points (1.62%) compared to the previous week to 1,272.04 points.
According to Agriseco Research, on the technical chart, the VN-Index has found a balance point at the support zone of 1,240 points, recovering with improved liquidity and regaining important MA lines. The fact that the market has recovered strongly in 4 consecutive sessions without any significant fluctuations makes investors apprehensive, which is understandable, especially when the index is approaching the sensitive resistance zone of 1,295-1,300 points. This is the 5th time the index is showing an effort to break out of the above resistance zone after 4 previous failures in 2024.
Therefore, it is forecasted that in the next trading week, the VN-Index may continue its upward trend with low amplitude, interspersed with fluctuations when approaching the resistance zone of 1,300 points.
In the context of a stable macro economy , positive signs of profit growth in Q2/2024, and the expected approval of Non Pre-funding to promote the potential for market upgrade, Agriseco Research expects the Vietnamese stock market to maintain a positive trend in the last months of 2024.
In particular, the industry groups of Retail, Banking, Export, Chemicals, Food and Beverage, Oil and Gas and Industrial Real Estate will have positive profit growth in Q3/2024.
In addition, in the context that global Central Banks are initially implementing monetary easing policies, causing interest rates to remain low, investors can also monitor stocks in the Securities, Construction and Civil Real Estate sectors when there is a suitable discount in price, because interest rates and reduced borrowing costs can have a positive impact on the profit margins of businesses in these sectors.
Noteworthy, the current cash flow is tending to seek out pillar stocks with expectations of market upgrade and foreign cash flow reversal in the coming period. In particular, banking and securities groups can be typical representatives leading the market in the coming period.
Source: https://baodautu.vn/goc-nhin-ttck-tuan-23-279-tang-voi-bien-do-thap-d225567.html
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