Market commentary on September 7th: VN-Index tested 1,350 points

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The market will break through the resistance zone of 1,350 points

(Agrisco Securities Company – AGR)

The market traded well after the 2/9 holiday with a consensus increase in stock groups. Steel flow led the uptrend when there was news that China cut production while the bank line traded more actively after being taken profit last month. Penny stocks traded actively with dozens of stocks hitting the ceiling. Excitement is pervading the market and it is highly likely that the market will surpass the resistance zone of 1,350 points in the coming sessions.

VN-Index gained in the morning session and narrowed the gain at the end of the day

(Asean Securities Company – AseanSC)

The market today recorded the 5th consecutive gaining session in the context of steel stocks attracting good cash flow, thereby positively affecting investor sentiment.

It is forecasted that in the next session, VN-Index will have an inertia to increase in the morning to test the resistance area near 1,350 – 1,355 points, and beyond the resistance area of ​​1,360 – 1,365 points. The shaking may occur at the high price zone, causing VN-Index to narrow its gaining momentum towards the end of the day.

VN-Index returned to the range of 1,350-1,380

(BIDV Securities Company – BSC)

The market opened at the beginning of the week with a rather exciting session. Investment cash flow spread into the market when 16/19 industry groups gained points compared to the previous session. The sectors that underpin the market’s momentum are Telecommunications, Basic Resources, and Information Technology. Market breadth remained positive with a strong increase in liquidity compared to the previous session, showing a positive sentiment.

Meanwhile, foreign investors maintained the trend of net selling on both HSX and HNX. With the above exciting trading trend, VN-Index is likely to return to the range of 1,350-1,380 points in the next trading sessions.

Investors can partially restructure to bluechip

(MB Securities Company – MBS)

The domestic stock market had a good start to September with two consecutive gains in the past five consecutive gains. Notably, today’s session was a strong cash flow, the second highest liquidity in the HSX order matching history. Market breadth was positive thanks to the excitement of the smallcap group despite the pressure of profit taking.

Market liquidity increased sharply from an average of 20,800 billion dong/session last week to 26,570 billion dong matched on the HSX today.

The market’s rally has entered the 5th session in a row after many times challenging the 1,300 point area. Market liquidity was the highlight of today’s session when it reached the second highest level ever on the HSX. In this session, the smallcap group still had a better bounce than the bluechip group and continued to set new highs, besides, the midcap group also surpassed the peak. However, investors can take profits gradually and partially restructure into blue-chips.

VN-Index will test 1,350 points

(Saigon Hanoi Securities Company – SHS)

VN-Index gained 0.88%, the fifth consecutive recovery session with high matching liquidity and surpassed the 20-day average, showing that investor sentiment is quite positive after the 4-day holiday. . Foreign investors saw the 6th consecutive net selling session on two exchanges with about 350 billion dong which is a negative point.

From a technical perspective, with the 5th consecutive increase, VN-Index is still in a technical recovery span and is gradually approaching the psychological resistance level of 1,350 points.

It is forecasted that in the next session, September 7, VN-Index will test 1,350 points and if it closes above this level, the index will likely head to the range of 1,375-1,380 points. In case the test fails, the index might correct and drop again with the nearest support level in the range of 1,335-1,340 points. Investors who have a large proportion of stocks can continue to watch technical retracements to reduce their proportion. Investors with a high proportion of cash continue to stand outside and observe the market, avoiding chasing buying at the moment.

Speculative cash flow can move quickly out of the market

(Dragon Viet Securities Company – VDSC)

After the long holiday, the strong cash flow into the market made investors’ psychology excited when many stocks gained strongly. However, today’s gain focused strongly on penny stocks and a few midcap stocks. This shows that this is a short-term speculative cash flow and also a warning of risks when this cash flow may move quickly out of the market. Therefore, investors need to limit buying or taking advantage of these stocks.

Continue to increase the proportion of shares

(Yuanta Securities Vietnam – YSVN)

The market may continue to gain momentum in the next session and the next resistance level of the VN-Index is 1,380 points. At the same time, cash flow may increase to large-cap stocks in the coming sessions, meaning that cash flow may spread more evenly among stock groups.

The positive point is that the cash flow continues to increase, showing that the short-term trend will be consolidated more positively. In addition, the short-term sentiment indicator continued to increase strongly, showing that the short-term strategy is to continue to increase the proportion of stocks.

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

Source: ndh.vn – Translated by fintel.vn