Market commentary on October 26: ‘Maintaining uptrend’

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Positive developments

(Bao Viet Securities Company – BVSC)

Next week, the market is forecasted to continue to have positive developments. VN-Index is aiming to challenge the resistance zone 980-990 in the short term. Market movements will continue to have a strong differentiation between stock lines according to information about the third quarter business results of each specific enterprise. Large-cap stocks will still increase in turn to support the market. In addition, the portfolio restructuring activities of investment funds according to the VN30 and VNDiamond indexes will make movements in large-cap stocks more exciting in the last week of October.

Continue to increase points

(Saigon-Hanoi Securities Company – SHS)

VN-Index may continue to rise with the next resistance zone in the range of 980-990 points (peak of January 2020). Investors who have taken profit from short-term positions around 950 points should stand outside and observe the market, and may consider buying new if the VN-Index corrects to around 930-940 points (MA20-fibonacci extension 61, 8%).

Profit taking pressure will increase

(Rong Viet Securities Company – VDSC)

VN-Index continued its uptrend after supporting signals and information at the end of the previous session. Currently, the transaction is positive but still cautious. At the same time, the VN-Index is approaching the resistance zone of 975 points. Profit-taking pressure is expected to increase when the market closes this area. Therefore, investors can still lean on the uptrend of the market but need to be cautious and observe the market’s profit taking.

Back to psychological threshold of 1,000 points

(MB Securities Company – MBS)

The market continued to expand its rally and investors were completely convinced by the high cash flow. The market is very healthy when there is a consensus among leading groups, besides banking stocks, Vingorup group has participated in the past 2 sessions. The write-off from the beginning of the year will encourage investor sentiment, thereby raising market expectation back to the psychological threshold of 1,000 points.

Maintain momentum

(Yuanta Securities Vietnam – YSVN)

YSVN believes that the VN-Index can maintain its uptrend and move towards 970 points. At the same time, the market continues to enter a phase of strong volatility in a positive direction, showing that short-term risks tend to decrease and short-term uptrend might continue to expand. In addition, the improving sentiment indicator shows that the suitable strategy for the current period is to hold.

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: – Translated by