The VN-Index may retest the 1,278 resistance level.

Maintain a positive outlook on the market.

The sideways movement to "accustom" to the new price level is not yet over, with the stock market continuing its fourth consecutive sideways trading session. The VN-Index's volatility range was somewhat wider than in previous sessions, and selling pressure was more evident. Liquidity remained at a low base, keeping the market from being overly active. Trading is slowing down, and pressure is gradually spreading to small and medium-sized stocks. After a good rally a few sessions ago, this group quickly faced profit-taking pressure. However, the decline was insignificant, with most stocks only fluctuating normally. In contrast, large-cap stocks performed relatively positively and maintained a good momentum for the index. At the close of trading on December 11th, the VN-Index closed at 1,268.86 points, down 3.21 points (-0.25%).

Market liquidity remained almost flat, only approaching the average of the past 20 trading sessions. At the end of the trading session, liquidity on the HSX reached 598 million shares (+0.75%), equivalent to VND 15,276 billion (+6%) in trading value.

At the close of trading on December 11th, the VN-Index closed at 1,268.86 points.

Market openness partly reflects the increasing pressure, with 15 out of 21 sectors experiencing corrections. Sectors exerting significant pressure on the market and trading sentiment today include: Industrial Real Estate (-0.90%), Retail (-0.88%), Fertilizers (-0.82%),... Conversely, some sectors bucked the trend, maintaining gains, including: Pharmaceuticals (+0.44%), Chemicals (+0.41%), Seafood (+0.28%),...

According to experts at Kien Thiet Securities Company (CSI), the VN-Index experienced its second consecutive day of decline, with trading volume falling below the 20-day average. Compared to the three previous days of gains with volumes exceeding the 20-day average, the two recent declines lacked the momentum to reverse the established trend.

“We maintain a positive market outlook and prioritize holding our portfolio positions. The correction over the past two sessions is more of a retest of the support zone around 1,260 points, corresponding to the 200-day moving average. At this support level, investors can open new buying positions and increase the proportion of stocks they hold,” a CSI expert commented.

The VN-Index may retest the 1,278-point resistance level.

According to the analysis team at Agribank Securities Company (Agriseco), on the technical chart, the VN-Index had another consolidation session after the recent sharp increase of nearly 70 points. Increased selling pressure towards the end of the day, but the lack of active buying to absorb it, similar to previous sessions, made it difficult for the market to maintain its upward momentum. Agriseco Research believes that this period of testing and consolidation is relatively necessary after a period of rapid index increase.

The VN-Index may retest the 1,278-point resistance level (Illustrative image: KT)

“The VN-Index may move sideways upwards with alternating periods of gains and losses, gradually heading towards the 1,280-1,300 point range in the coming sessions. Investors should continue to hold their portfolios. The support level of 1,260 points, corresponding to the intersection of the 50-day and 200-day moving averages, is a reliable support for the short-term trend; investors should prioritize further investment in this area,” an expert from Agriseco stated.

Meanwhile, experts from Yuanta Securities Vietnam (YSVN) believe that the market may soon return to an upward trend in today's trading session (December 12th), and the VN-Index may retest the resistance level of 1,278 points. At the same time, the market may quickly end its correction phase and soon return to an upward trend because the market is still in a period of strong positive volatility, and short-term risks remain low. Furthermore, the continuing rise in sentiment indicates that investors remain optimistic about the current market developments, and new buying opportunities continue to increase.

"The short-term trend of the overall market remains upward. Therefore, investors can take advantage of the correction to increase their stock holdings to a high level," a YSVN expert recommended.

► Some stocks to watch on December 12th

Source: https://vov.vn/thi-truong/chung-khoan/nhan-dinh-chung-khoan-1212-vn-index-co-the-thu-thach-lai-nguong-khang-cu-1278-post1141427.vov