VN-Index may fluctuate at 1,285 points but there are more positive signals

The stock market recovered well in the first week of the third quarter of 2024, regaining most of the points lost last week. At the end of the week, the VN-Index closed at 1,283.04 points, up 3.03% compared to the previous week. The main index returned to the 1,285 point area due to positive socio-economic information, GDP growth of 6.93% in the second quarter of 2024.

In the short term, VN-Index increased for the 4th consecutive session, surpassing the average price range of the last 20 sessions around 1,275 points. Currently, expectations are moving towards the price range of 1,300 points of the accumulation channel of 1,250 points - 1,300 points. Market liquidity has gradually improved over the sessions but still decreased sharply throughout the week and only reached about 65% of the average level, showing a strong level of differentiation. Investors are waiting for information on the second quarter business results of enterprises.

According to forecasts from SHS Securities Company, VN-Index may still be under pressure when it encounters strong resistance around 1,285 points. However, the positive point is that many groups of codes have recovered well, many codes have surpassed the old peak.

In the medium term, VN-Index is still accumulating positively with a narrowing amplitude in the range of 1,245 - 1,255 points to 1,300 points, the upper half of the channel 1,180 points - 1,200 points to 1,300 points, expanding to 1,320 points. VN-Index is also recovering well when retesting the lower edge of the medium-term trend line connecting low price zones from November 2023 to present.

At present, experts from Bao Viet Securities Company believe that the business results of enterprises will be the factor that the market is interested in. Cash flow is expected to concentrate on large-cap stocks and stocks with positive second-quarter business results. The performance of stock groups will be strongly differentiated.

Investors should focus on stock groups with positive second-quarter business results such as retail, consumer goods, steel, electricity... or can take advantage of market corrections to accumulate stocks with positive profit prospects for the last two quarters of the year but with attractive prices such as real estate, export...

According to Agribank Securities Company, the market may move sideways and create a short-term balance around the MA20 line in the upcoming sessions. The fluctuations may appear during the upward process when the index's recovery is not accompanied by increased liquidity and the VN-Index is approaching the resistance zone.

Investors should focus on restructuring their portfolios, reducing the proportion of stocks with high price increases and speculative stocks when the index approaches the resistance zone around 1,280 (+-5 points). Regarding new disbursements, they can wait to buy leading stocks, prioritizing industry groups with positive profit growth expectations in the second quarter such as retail, steel, and export.

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