Stock commentary 30/6: Not excluded with technical recovery

3 min read

Continue to decrease points (Decrease)

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

Priority in risk management (neutral)

(MB Securities Company – MBS)

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.

May recover (Increase)

(SSI-SSI Securities Company)

In terms of technical analysis, after breaking the support of 832 points accompanied by increasing volume on the 50-day moving average, the VN-Index is likely to appear a short recovery phase to 840 – 845 points before returning. Back to the downtrend of strong support area of 820 – 800 points.

Trading restrictions (Neutral)

(BIDV Securities Company – BSC)

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

Reversible (Increase)

(Viet Capital Securities Joint Stock Company – VCSC)

VNSmallcap is the only index holding medium-term technical signal at a positive level when the MA200 support at 744 points has not been broken. On HNX-Index, VNMidcap has changed the Medium-term signal to Neutral, similar to VN-Index and VN30 signals. It is forecasted that tomorrow, the MA50-day support level of VN-Index, VN30 at 827 points and 768 points or MA200 day support of VNSmalcap may boost demand, helping the market have a recovery session.

Stay cautious (Neutral)

(Vietnam Construction Securities Joint Stock Company -VNCS)

VNCS stated that the downward trend is completely dominating during this period, with sell signals appearing quite clearly. It is likely that the correcting trend will continue to dominate in the coming time, before the market finds the next support level. Therefore, after many consecutive sessions of recommending investors to sell and lower the proportion, VNCS continued to maintain a prudent view, and prioritize the position of unobserved observation, until the market shows signs of initiation.

Technical recovery soon (Increase)

(BOS Securities Company – ART)

VN-Index continuously broke the area of 830-840 points with strong selling pressure. Technical indicators continue showing the correcting trend of the market with the next support levels around 820 points (including the MA300 line at 825 points). Most likely, VN-Index will soon have a technical recovery when approaching the support area of 820 points in the next few sessions. Investors prefer to observe the market and avoid chasing in gaining sessions because the possibility of correction is still quite large.

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