Market commentary April 29: ‘Tug-of-war’

3 min read
Securities companies Positive Neutral Negative
AseanSC X
BSC X
BVSC X
MBS X
SHS X
VDSC X
YSVN X

There is increased inertia

(Asean Securities Company – AseanSC)

The VN-Index recorded the second consecutive gaining session in the context that investors are still quite cautious, leading to low liquidity. It is forecasted that in the next session, the VN-Index may have inertia increasing to test the resistance area near 1,230 – 1,235 points, and further is the resistance zone of 1,240 – 1,245 points. The shake can happen at high price range, making VN-Index might narrow the gaining trend towards the end of the day.

Tension in area 1.225-1.230

(BIDV Securities Company – BSC)

VN-Index might fluctuate and struggle at the area of 1.225-1.230 in the last session of the month.

There are tension developments

(Bao Viet Securities Company – BVSC)

VN-Index is forecasted to struggle with fluctuations in the next session. The index might challenge resistant level of 1.235-1.248 points. Tomorrow, investment funds according to the indexes of HoSE-Index will promote portfolio restructuring activities. This can cause the component stocks in the index baskets to fluctuate strongly, thereby indirectly affecting market movements.

The market’s bullish inertia is still dominant

(MB Securities Company – MBS)

The positive impact from bottom-fishing cash flow has been turned into actions of domestic investors today. The market, after many sessions of being compressed, also increased in compensation to reinforce the bottom area. The most expected sign was that the liquidity remained high and foreign investors remained net buyers. Technically, the market has created a buffer for the short-term bottom, the area above is the resistance zone of 1,300 points, there will be fluctuations, but with positive signals both inside and outside as at present. Not worrying, the market’s rising inertia is still dominant.

Reduce back

(Saigon-Hanoi Securities Company – SHS)

In the next session on April 29, the market can fall back to lower levels to seek bottom-catching demand.

Risk factors settle down

(Rong Viet Securities Company – VDSC)

VN-Index continued to test supply – demand and recorded more active supportive sessions, reflected by a slight increase in liquidity and the index closed near the intraday high. Thus, the market’s recovery span was prolonged. However, temporarily it should still be noted that the important test area is 1,230-1,250 points. The risk factor has temporarily subsided thanks to the active support of the cash flow, however, investors should temporarily keep the stock proportion at a reasonable level, avoid using leverage and overbought. Priority should be given to stocks with more positive developments than the market. For stocks with poor performance in recent times, the current recovery span is an opportunity to restructure and gradually reduce the proportion.

Continue to struggle

(Yuanta Securities Vietnam Company – YSVN)

YSVN believes that the market will probably continue to struggle and corrections will probably appear during the session with trading volume still below the 20-day average volume. At the same time, the market is still in the accumulation phase, showing that the market cannot see strong declines and the cash flow is likely to differentiate in the next few sessions, but the level of differentiation is low. Besides, the market risk is still high, so we think that these are only uncertain technical recoveries.

Investors should only consider comments of securities companies as a source of reference information. Securities companies all have recommendations to exempt the responsibility for the above comments.

Source: ndh.vn – Translated by fintel.vn