VN-Index continues to fluctuate in a narrow range

Investment Comments

VCBS Securities: In terms of the daily chart, the two important indicators, MACD and RSI, are still weakening and heading down, so it cannot be confirmed that the market has regained its equilibrium in the coming sessions. In addition, the Bollinger band is gradually narrowing, and the ADX indicator has decreased to 21, showing a high probability that the VN-Index will continue to fluctuate within a narrow range in the short term.

VCBS recommends that investors should remain cautious, take advantage of the recovery to sell off stocks that are performing weaker than the market, limit new purchases at the present time and only maintain a stock ratio of 30-40% of the account to maximize short-term risk management.

Phu Hung Securities: From a technical perspective, VN-Index had a session of increasing points again with a Spinning Top candlestick. In addition, the trading volume decreased and was below the average of 10 sessions and 20 sessions, proving that investors' sentiment is very hesitant and cautious.

The index remains below the MA5 line, indicating that there may still be some volatility. Currently, the VN-Index is near the short-term support zone of 1,200-1,215 points. If this support holds, the situation is not too pessimistic. Otherwise, the old bottom zone of 1,170-1,180 points will be the next support.

Overall, the market is struggling above short-term support. Therefore, investors should be cautious and wait for signals in this area. Investors can take advantage of the fluctuations to restructure their portfolios, prioritizing stocks with growth stories in the third quarter and being supported by cash flow.

BOS Securities: Technically, the VN-Index increased in the afternoon session with improved liquidity, which is a positive signal, especially when the index is still in the horizontal range. The whole session volume has decreased to a lower level than average after 2 sessions of strong selling, showing that the selling pressure has lessened.

As a result, the market is likely to continue moving sideways in the next session. Investors are advised to maintain a low stock ratio and may increase stocks during market corrections.

Stock news

- On September 14, the European Central Bank (ECB) raised interest rates for the 10th consecutive time to curb inflation. The ECB's benchmark interest rate increased from -0.5% (in June 2022) to a record 4%.

The main reason for the decision to raise interest rates may come from the ECB's upward revision of its inflation forecast for this year. Specifically, the ECB forecasts inflation in the Eurozone at 5.6% this year, higher than the previous forecast of 5.4%. For 2024, inflation is forecast at 3.2%, instead of the previous 3%.

- US crude oil WTI surpassed $90 a barrel this morning, mainly due to concerns about falling supply as global demand hits a record high. Each barrel of WTI is currently priced at $90.7 - the first time it has exceeded $90 since November last year. Brent oil also reached $94 - the highest since the beginning of the year.

Oil prices have been rising steadily recently due to concerns about tightening supplies. On September 5, Russia and Saudi Arabia - the two leading countries of the Organization of the Petroleum Exporting Countries and its allies (OPEC+), announced that they would extend measures to tighten oil supply until the end of this year .

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