>> Some stocks to watch on June 19
VN-Index needs to accumulate more before it can return to an uptrend in the short term.
After the decline on June 17, the stock market opened the morning session on June 18 in green and the upward momentum was maintained until the early afternoon session when the VN-Index increased to 1,286.52 points. However, selling pressure from the amount of stocks returned to accounts from the previous Friday trading session after 2:00 p.m. caused the VN-Index to close the session up +4.73 points (+0.37%) to 1,279.5 points. The HNX closed the session at 244.43 points (+0.5 points, equivalent to +0.04%). The market breadth was in favor of the buyers with 214 stocks increasing in price, 107 stocks decreasing in price, and 51 stocks remaining unchanged at HOSE. The HNX traded with 103 stocks increasing in price, 67 stocks remaining unchanged, and 70 stocks decreasing in price. Liquidity on both exchanges decreased compared to yesterday's trading session when trading volume (excluding agreements) decreased by -18.7% at HOSE and -21.6% at HNX.
The prominent industry group contributing to the increase of VN-Index on June 18 was Chemicals with DGC increasing by the full margin (+7%), CSV (+4.32%). Fertilizer stocks also traded in green. Electricity stocks traded very actively, especially POW stock increasing by the full margin (+6.81%) after the Board of Directors approved the gas purchase contract of Ca Mau 1&2 power plant, along with other stocks such as: REE (+3.08%), NT2 (+1.56%), PPC (+2.28%), GEG (+2.5%)... The Oil and Gas group also witnessed many stocks increasing after the world oil price had a strong increase on June 17 due to expectations of increased demand in the summer, typically PLX (+2.76%), PVD (1.13%), PVS (+1.16%), BSR (+4.29%), OIL (+2.73%), PVC (+1.92%)...
According to experts from Agribank Securities Company (Agriseco), on the technical chart, VN-Index closed at MA20 after re-testing this area. However, the fact that VN-Index created a Gravestone Doji candle and liquidity continued to decline is showing a less positive signal in the coming sessions, especially when active demand is relatively weak and the selling side is still dominant. Agriseco Research believes that VN-Index will need to accumulate more before it can return to an uptrend in the short term. The nearby support level around 1,250-1,255 points is expected to be a reliable support point, helping the index regain balance in case short-term selling pressure increases rapidly.
“With the medium and long-term uptrend still being maintained, investors should continue to hold their portfolios until there are signs of a technical reversal, and can take profits from stock positions that have achieved expected profitability in the early uptrend of the market. Regarding new disbursements, priority should be given to waiting for opportunities at the above support zone with leading stocks that have not increased sharply in the recent period,” said Agriseco experts.
The market is likely to continue moving sideways around current levels.
Meanwhile, experts from ASEAN Securities Company (ASEANSC) said that the market regained the MA20 mark in the session of June 18 with low liquidity. The general market trading sentiment is becoming significantly more optimistic based on the market breadth leaning towards green. Cash flow continues to look for investment opportunities in the context of differentiation rotating to industry groups such as Livestock and Chemicals. However, the selling pressure once again decreased at the end of the session, showing that supply and demand still need more time to balance.
“Therefore, we expect the market to soon balance at 1,260 – 1,270 points and investors should consider opening new buy orders when the market re-tests,” said ASEANSC experts.
According to experts from Yuanta Vietnam Securities Company (YSVN), the market may continue to move sideways around the current level and the 20-session moving average of the indices in today's trading session, June 19. At the same time, the market is still in a short-term accumulation phase and the short-term sentiment indicator is decreasing, so the market may continue to fluctuate narrowly in the coming trading sessions and this is also the phase of restructuring the portfolio, especially investors need to limit chasing purchases in strong uptrends. At this stage, investors should prioritize holding strong stocks and selling weak stocks (ie Stock Rating below 80) or stocks with negative short-term trends.
“The short-term trend of the general market remains at an upward level. Therefore, short-term investors should restructure their portfolios to optimize current performance and still prioritize holding a high proportion of stocks in their portfolios. At the same time, investors should temporarily stop buying and observe the market developments in today's session when there is a clearer trend of cash flow,” YSVN experts recommended.
Source: https://vov.vn/thi-truong/chung-khoan/nhan-dinh-chung-khoan-196-thi-truong-tiep-tuc-di-ngang-quanh-muc-hien-tai-post1102411.vov
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