Investment analysis
Yuanta Securities Vietnam (YSVN) : The market may continue to correct in the early part of the trading session, and the VN-Index may recover towards the end of the session.
At the same time, liquidity may improve thanks to the portfolio restructuring of the two ETFs, 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 break through the 1,130 point resistance level and the price chart may fluctuate within a narrow range again in the coming trading sessions.
Furthermore, continued net selling by foreign investors has kept domestic investors cautious about current market developments.
Vietcombank Securities (VCBS) : From a technical perspective, 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, indicating that selling pressure is not yet too great. In addition, the market is still in a medium-term uptrend.
Looking at the hourly chart, both MACD and RSI indicators are gradually moving towards the oversold zone, while the VN-Index has not completely lost its support accumulation zone, suggesting that a rebound is still possible in the coming sessions.
Saigon - Hanoi Securities (SHS) : The market is currently in a short-term consolidation phase and undergoing a slight correction, but it may still rebound.
Short-term investors can consider investing if the VN-Index experiences another breakout session or retests the support zone around 1,100 points; however, they should only participate with a low proportion. Medium- and long-term investors should continue to hold their portfolios, waiting for opportunities to invest further when the market stabilizes and consolidates.
Stock market news brief
- Fuel prices have decreased across the board. E5RON92 gasoline will not exceed 20,512 VND/liter (a decrease of 778 VND/liter compared to the current retail price). RON95-III gasoline will not exceed 21,405 VND/liter (a decrease of 917 VND/liter compared to the current retail price). 0.05S diesel fuel will not exceed 19,010 VND/liter (a decrease of 711 VND/liter compared to the current retail price).
- Fed keeps interest rates unchanged, signals three rate cuts in 2024. As predicted, the Fed kept interest rates unchanged for the third consecutive time at its December 2023 meeting, but signaled three rate cuts in 2024. Amid cooling inflation and a robust economy , officials on the Federal Open Market Committee (FOMC) unanimously agreed to keep interest rates at 5.25% - 5.5% .
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