Securities on September 10 through technical ‘prism’

4 min read
Securities company Positive Neutral Negative
AseanSC X
KISVN X
KBSV X
PHS X
SHS X

Buyer temporarily prevails

(Asean Securities Company – AseanSC)

The VN-Index daily chart appears a medium green candle with the closing price above the short-term moving averages MA3-day, MA5-day, and MA20-day, which is a positive signal. This shows that buyers are temporarily dominating. However, the liquidity is lower than the 20-day average, showing that the reliability of this candle is not high.

Therefore, in a positive scenario, VN-Index will test the resistance area near 1,345 – 1,350 points, the next resistance is forecasted at 1,355 – 1,360 points. In the negative scenario, the near support area of VN-Index is forecasted at 1,335 – 1,340 points, the next support area is forecasted at 1,325 – 1,330 points.

Short-term increase

(KIS Vietnam Securities Company – KISVN)

VN-Index closed above the 50-period moving average, so the uptrend will continue in the short term. Therefore, investors should continue to hold the current stock position in the portfolio and focus on the leading industry group.

Take profit short-term trading position

(KB Securities Vietnam – KBSV)

VN-Index experienced a positive gaining session with overlapping gains during the session. The early regaining of gaining momentum made the chance to expand the index’s recovery span continued to be consolidated. However, the shaking pressure will become more obvious in the 10/9 sessions when the index challenges the resistance around 1.360. VN-Index needs to overcome this resistance soon to avoid the risk of falling back to the lower border of the horizontal band again.

Investors are recommended to maintain their medium-term positions, and can take partial profits from their short-term trading positions when the index challenges the 1.360 resistance area.

Keep proportions in balance

(Phu Hung Securities Company – PHS)

The VN-Index has rebounded. The volume of deliveries remains below the average of 10 and 20 sessions, implying that cash flow still has a certain caution. Not only that, the continuous index for the MA20 cross signal, along with the ma20 and 50 lines of relatively flat movement, shows that the index is forming a sideway state in a narrow range around the zone of 1,320 – 1,350 points (MA20 – MA100) before showing a clearer direction. However, after the last rally with the bullish candle covering the previous bearish candle, along with the MACD cutting to signal confirming the new buy signal, indicating that the index may be tilted in a positive direction. Therefore, the index is having the opportunity to challenge the trendline linking the July and August peaks (equivalent to the zone of 1,350 points) in the coming sessions.

For HNX, HNX-Index saw similar situation. The index maintained its tenth consecutive gaining streak and closed above MA20, showing that the uptrend is still in progress. In a positive case, the index might head to the target resistance zone around the historic peak of 400 – 406 points.

In general, the market has not yet escaped from the state of tug-of-war and shaking. Therefore, investors should keep the proportion at a balanced level and take advantage of shaking sessions to restructure the portfolio into stocks with good fundamentals and attracting strong cash flow.

Technical retracement if 1.300 holds

(Saigon Hanoi Securities Company – SHS)

The elliott wave theory with rising wave 5 (from 1,000 points to 1,420 points) has ended when reaching the length of bullish wave 3 (from 780 points to 1,200 points) with the same increase of 420 points. Corrective wave a then ended in the session of July 20 when VN-Index touched 1,225 points and recovered from here. The retracement wave b then ended on August 20 when VN-Index (-3.3%) dropped sharply and penetrated the MA20 and MA50 support. And now there is correction c with theoretical target around 1,180 points (wave c = wave a = 200 points).

With the recovery in the 9/9 session, VN-Index surpassed the support area of ​​1,330-1,340 points (MA20-50), but still could not close above the psychological resistance around 1,350 points at the same time. is also half of the body of the bearish candle on Aug 20 to confirm that the rally b has ended. Therefore, VN-Index has not yet been able to confirm the end of correction c. In a positive scenario, if it can close above 1,350 points in September 10 session, VN-Index may head to the next resistance zone in the range of 1,375-1,380 points (peak of recovery wave b) in the near future. It is forecasted that in the session of September 10, VN-Index may correct again if it cannot overcome the nearest psychological resistance around 1,350 points.

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