Investment Comments
Yuanta Vietnam Securities (YSVN) : The market may continue to correct in the early trading session and the VN-Index may recover at the end of the session.
At the same time, liquidity may improve thanks to the portfolio restructuring session of two ETF funds, but the negative point is that the market shows signs of entering a short-term accumulation phase, so the VN-Index may not be able to overcome the resistance level of 1,130 points and the price chart may fluctuate narrowly again in the coming trading sessions.
In addition, foreign investors continued to net sell, making investors still cautious about current market developments.
Vietcombank Securities (VCBS) : From a technical perspective, it is believed that active selling liquidity still has room to increase, causing the VN-Index to fall to the 1,110 area, but it is still closely following the MA20 moving average, showing that the selling pressure is not too great. In addition, the market is still in a medium-term uptrend.
Looking at the hourly chart, the two indicators MACD and RSI are gradually approaching the oversold zone while the VN-Index has not completely lost the support accumulation zone, showing that the probability of a bounce back is still possible in the coming sessions.
Saigon - Hanoi Securities (SHS) : The market is in a short-term accumulation phase and slight adjustment, but can still recover.
Short-term investors can disburse if VN-Index has the next explosive session or retests the support zone around 1,100 points, but should only participate with a low proportion. Medium and long-term investors should continue to hold the portfolio, waiting for the opportunity to disburse more when the market accumulates and stabilizes again.
Stock news
- Gasoline prices have decreased across the board. E5RON92 gasoline is no higher than VND20,512/liter (down VND778/liter compared to the current retail price). RON95-III gasoline is no higher than VND21,405/liter (down VND917/liter compared to the current retail price). 0.05S diesel is no higher than VND19,010/liter (down VND711/liter compared to the current retail price).
- Fed keeps interest rates unchanged, signaling 3 rate cuts in 2024 As expected, the Fed kept interest rates unchanged for the third consecutive time at its December 2023 meeting, but signaled 3 rate cuts in 2024. In the context of cooling inflation and a solid economy , officials in the US Federal Open Market Committee (FOMC) agreed to keep interest rates unchanged in the 5.25% - 5.5% range .
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