Some stocks to watch on June 17
Investors can maintain holding positions.
The trading week of June 10-14 witnessed many important financial events in the world , from the FED's FOMC meeting to the interest rate decision of the Bank of Japan BOJ. It would have been a relatively perfect trading week if there had not been a sell-off at the end of the week. The VN-Index closed above the 1,300 point mark in the Wednesday and Thursday sessions for the first time since June 2022. In general, the trading pace of the market remained relatively tight for most of the trading time. Banking stocks unexpectedly rose, pushing the index above its peak in the two mid-week sessions. However, the strong selling pressure in the last minutes of the session on June 14 wiped out the accumulated results of the whole week, and the market fell more than 21 points in the last session of the week. Closing the second trading week of June, the VN-Index closed at 1,279.91 points, down 7.67 points (-0.6%).
Market liquidity increased again when the VN-Index conquered the old peak, exceeding the average level of 20 trading weeks. Accumulated for the whole trading week, the average liquidity on the HSX floor reached 907 million shares (+5.97%), equivalent to VND 24,512 billion (+7.67%) in trading value.
Market opening was heavily tilted towards red after the weekend's decline with 13/21 industry groups losing points. The strongest correction pressure last week belonged to the following industry groups: Fertilizer (-4.42%), Industrial Park Real Estate (-4.25%), Textile (-3.30%),... On the other hand, going against the market trend to increase points last week, we must also mention the industry groups such as: Telecommunications Technology (+8.72%), Aviation (+7.89%), Retail (+1.14%),...
According to experts from Kien Thiet Securities Company (CSI), at present, selling pressure is dominating strongly after the deep decline on June 14. However, the reversal signal has not been clearly confirmed and it is not excluded that the VN-Index will only decrease in the short term to test the support level of 1,264 - 1,270 points in the sessions this week from June 17 to June 21 and then bounce back.
“The previous buying points after the sharp decline on June 14 have not yet violated the risk level, so investors can maintain their holding positions. Even take advantage of the decline to increase the proportion of stocks in profitable codes when the VN-Index falls to the above support level,” said the CSI expert.
VN-Index may stagnate at the demand zone of 1,250-1,270
According to the analysis team of ASEAN Securities Company (ASEANSC), despite a series of positive information that has helped the stock market officially surpass the resistance level of 1,300, the liquidity of the market has not increased too strongly after surpassing the resistance. This led to investors losing patience and taking profits, causing the market to sink into red. However, the selling pressure at the end of the session accelerated rapidly, but the VN-Index still closed above the MA20 mark and because it was the weekend session, investors had more time to balance their trading psychology.
“We believe that this correction is an opportunity for investors to accumulate stocks at the support zone of 1,260 – 1,270 points,” ASEANSC experts said.
Experts from Phu Hung Securities Company (PHS) analyzed that, technically, VN-Index unexpectedly had a strong decline again, creating a long, dense bearish candle with high volume, showing strong selling pressure. This may cause the price to continue to adjust further this week, June 17-21. However, this is just a correction after surpassing the peak and is not expected to decrease deeply, the index may stagnate in the demand zone of 1,250-1,270. Selling pressure needs to weaken in the coming sessions to support this possibility.
For HNX-Index, the index also had a strong decline again. The signal of a long bearish candle with increased volume also shows that selling pressure is increasing, and it is likely that it will continue to decrease.
“Investors can maintain a high proportion, and if they continue to be sold off heavily, they should consider lowering their exposure to low-medium levels. If the positive scenario is achieved, we expect differentiation to continue, with priority given to strong groups such as VN30, Maritime Transport-Ports, Aviation, Technology, Steel, Textiles, Fertilizers, and Retail,” PHS experts recommended.
Source: https://vov.vn/thi-truong/chung-khoan/nhan-dinh-chung-khoan-tuan-176-216-vn-index-co-the-tiep-tuc-dieu-chinh-post1101781.vov
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