Market commentary on June 30: Decreasing stock exposure and staying on the sidelines

3 min read

(ĐTCK) VN-Index broke the support area of 840-860 points. Short-term movements are expected to continue to decline, of which the price range of 780-810 points will be the nearest support area.

The Securities Investment Review summarizes the market comment report of some securities companies for the trading session on June 30.

Short-term movements are expected to continue to decline

Tan Viet Securities (TVSI)

The widespread negative effect made the market width inclined to the number of losers. Meanwhile, the liquidity was VND 4,417 billion, up 42.7% but still below the average level of the latest 20 sessions, showing that buyers are still cautious at the moment.

On the daily chart, the VN-Index has broken the support area of 840-860 points. Short-term movements are expected to continue to decline, of which the price range of 780-810 points will be the nearest support area. We believe that investors should maintain their observation position at the moment.

Taking advantage of the recovery span to sell to reduce the proportion

Bao Viet Securities (BVSC)

After penetrating the support zone around 840 points, VN-Index is likely to continue under dropping pressure to stronger support at 780-820 points in the short term. In the process of dropping, the index might appear in technical recoveries.

Investment strategy: Maintain the share rate in the portfolio below 25% of stocks. Priority is given to holding medium and long-term positions.

Investors are still holding a high proportion of stocks, so taking advantage of the recovery to sell to reduce the proportion.

Priority risk management, bringing the proportion of the portfolio to the level of balance or low

MB Securities (MBS)

The market dropped sharply due to technical factors rather than the impact information both at home and abroad. The fact that VN-Index lost the support level in mid-June (832 points) may have pushed up selling pressure.

Outside, the future indexes of the US market went sideways even increasing during the session, the European market also opened in the green.

Domestically, positive GDP growth is positive news, although it is the lowest in the history of statistics but compared with other countries in the region and around the world, Vietnam’s modest growth was impressive in the quarter. II this.

Still, what needs to be done now is prioritizing risk management, bringing the portfolio weight to a balance or low level.

Investors should limit transactions

BIDV Securities (BSC)

The liquidity increased sharply, the amplitude widened with negative market breadth, signaling the sell-off sentiment of the market under the influence of negative information.

Investors should limit transactions and monitor complicated developments of Covid-19 before making investment decisions in the coming period.

Reduce stock exposure and stay out of the market

KIS Vietnam Securities (KIS)

The downtrend can be confirmed in the short term when the VN-Index adjusts below the 50-period moving average. Correcting risk increases before selling pressure. Therefore, investors need to reduce the proportion of stocks in the portfolio and stay outside the observation.

Not to join the market at this time

Vietcombank Securities (VCBS)

In our opinion, VN-Index has fallen below the support level of 850 points and is likely to continue testing the support area of 800-820 points.

Although the overall trend is still down, we think this “cooling down” is necessary and healthy after the “hot” and strong rally of many stocks since mid-April 2020 until now, despite the weak. Basic factors affected by the global impact of Covid-19 epidemic.

We recommend that investors should not join the market at this time and need to continue observing the signal of creating a bottom in the next sessions before returning to disburse.