Securities on September 7 through technical ‘prism’

5 min read
Securities company Positive Neutral Negative
AseanSC X
KBSV X
PHS X
SHS X
VCSC X
VDSC X

The short-term trend is more positive

(Asean Securities Company – AseanSC)

The VN-Index daily chart appears a small green candle with the closing price above the 20-day MA and a ‘gap up’ at the range of 1,338 – 1,340 points, with improved liquidity, which is a positive signal. This shows that buyers are temporarily dominating, and the short-term trend is becoming more positive.

Therefore, in a positive scenario, VN-Index will test the resistance area near 1,350 – 1,355 points, the next resistance is forecast at 1,360 – 1,365 points. In the negative scenario, the near support area of ​​VN-Index is forecasted at 1,340 – 1,345 points, the next support area is forecasted at 1,330 – 1,335 points. In which, the support zone is the area where the demand might appear to help the index recover and the resistance zone is the area where the selling might appear and causing the index to drop again.

The index will extend its gaining momentum

(KB Securities Vietnam – KBSV)

VN-Index opened a gain gap at the beginning of the session with the increasing momentum expanding towards the end of the session. The positive momentum and improved liquidity helped the index break through the close resistance around 1.340, which has now reversed its role as a close support point for VN-Index. With the recovering trend playing a dominant role, the index is likely to extend its gaining momentum before encountering stronger shaking pressure at the next resistance zone at 1.36x.

The short-term recovering trend is showing signs of returning

(Phu Hung Securities Company – PHS)

From a technical point of view, the VN-Index had its fifth consecutive session of gains. The increased trading volume exceeded the average of 10 and 20 sessions, implying that cash flow is entering the market. Not only that, the short-term trend shows signs of changing in a positive direction, as the index overcomes the pressure of the MA20, along with the +DI line cutting above -DI indicates that the short-term recovery trend is showing signs of returning.

In addition, the MACD line crossed Signal, showing buy signal again and the RSI line pointing up at 55 shows that the gaining momentum is getting stronger, the index has a chance to continue moving up to challenge the resistance around the old peak of 1.370. – 1,380 points.

For HNX, HNX-Index had similar situation. The index had a seventh consecutive gaining streak and closed above MA20, showing that the uptrend is still ongoing, with resistance near the peak of 347 points or further, the psychological 350 points. In general, the market is having positive changes in the short term. Therefore, investors may consider taking advantage of the swings to participate in a small proportion of stocks with good fundamentals and are attracting strong cash flow.

VN-Index will head to the area of ​​1,375-1,380 points if it surpasses the resistance level of 1,350 next session

(Saigon Hanoi Securities Company – SHS)

The technical analysis perspective is the elliott wave theory with the rising wave 5 (from 1,000 points to 1,420 points) having ended when reaching the length of the rising 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 movement for five consecutive sessions and VN-Index still has not been able to overcome the psychological resistance level around 1,350 points and is also the half of the falling candle body in the session of August 20, marking the end of the retracement wave b, so it has not been able to receive determine that the market has ended the correction c.

However, if VN-Index can close above the threshold of 1,350 points in the next session, it will likely head to the range of 1,375-1,380 points in the near future. It is forecasted that in the next session, September 7, VN-Index may correct again if it cannot overcome the nearest psychological resistance around 1,350 points.

Short-term and medium-term technical signals of VN-Index are positive

(Vietnamese Securities – VCSC)

Short-term and medium-term technical signals of VN-Index improved to positive, similar to signals of VNMidcap, VNSmallcap and HNX-Index. Meanwhile, VN30 signal improved to neutral with MA20 and MA50 resistance at 1,458-1,464 points.

It is forecasted that in tomorrow’s session, the market may maintain its bullish inertia in the morning session before a struggle occurs when VN30 hits 1,448 points and VNMidcap and HNX-Index test the old peak.

This tug-of-war will likely create a downward correction at the end of the day for strong indicators such as VNMidcap, VNSmallcap or HNX-Index to test the short-term support of the MA3 or MA50 days while VN-Index, VN30 can retest the MA10 or MA20 yesterday. However, after this shake/adjustment, VCSC said that VN30 will have the opportunity to increase to the region of 1,458-1,464 points, creating a foundation for small and medium-sized stocks to continue the upward momentum.

The stock market still has a growth rate, but the rate of increase has waned

(Dragon Viet Securities Company – VDSC)

VN-Index increased slightly by 3.18 points (0.24%) and closed at 1,334.65. The liquidity of HoSE was adjusted slightly to 679 million units, lower than the previous session of over 700 million trading units. VN-Index still maintains an uptrend but the gaining force is weakening below the threshold of 1,338. Currently, the ADX indicator is not giving any trend signal, MACD turned slightly. However, with the resistance level of 1338 again not yet overcome, it will be easy to cause difficulties for VN-Index in the future.

HNX-Index also increased slightly by 0.61 points (0.18%) and closed at 343.42. The liquidity of HNX decreased slightly compared to the same session in the previous session. HNX-Index is gradually moving up but the gaining force is clearly slow, although ADX and MACD still maintain uptrend. Thus, with this increase, it will be difficult for HNX-Index to pass in the short term and the risk of correction is higher.

Recommendation: The stock market still has a growth rate but the level of growth weakens gradually. Partly influenced by the level of investor interest in the short term, part of the cash flow has not been able to spread widely in the general market. There is still no major risk in the market before the long holiday, but VDSC is cautiously recommending that investors gradually resuscitate their portfolios to safe thresholds to avoid unexpected risks, as cash flow is focused on only certain groups 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