Stock market comment on April 8: Struggling with differentiation between stocks

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According to the securities company, the market is likely to continue struggling with strong differentiation according to the business results of each specific enterprise.

The domestic stock market quickly regained its momentum after the first correction in the morning session, the VN-Index rose for 8 consecutive sessions. The liquidity in this session remained at a high level and market breadth was very positive, especially in the VN30 group, showing that the selling pressure in the resistance zone is no longer too strong although foreign investors turned to net sell slightly.

At the close, the VN-Index rose 2.42 points to 1,242.38 points, of which the VN30-Index increased by 2.41 points to 1,257.77 points. Market breadth was inclined to buyers, the whole market had 267 advancers / 155 decliners, in VN30 basket there were 17 gainers, 7 losers and 6 stocks kept the reference.

Market liquidity continued to be strong with the total matched value reaching nearly 14,843 billion dong. Foreign investors’ trade was not very positive as they net sold again with a total value of nearly 90 billion dong.

Nhận định thị trường chứng khoán ngày 8/4: Giằng co với sự phân hóa giữa các cổ phiếu - Ảnh 1.
Technical chart for VN-Index. (Source: FSC).

Here is the statement of securities companies on April 8.

Yuanta Securities Vietnam (FSC)

The market is likely to continue its upturn in the next session and the uptrend is likely to continue to extend to new highs.

The positive point is that short-term cash flow continues to increase sharply and the market is still in a state of strong volatility in a positive direction, especially the spread of cash flow among stock groups suggests that the short-term up trend will be more sustainable. At the same time, the psychological indicators continue to rise sharply and remain in the safe zone.

Stock MB (MBS)

After the correction session in the morning, the market regained its uptrend despite foreign investors’ return to net selling. The market still fluctuates at the peak and still can hold the threshold of 1,230 points, the uptrend continues, but to surpass the current resistance, the market needs more supportive information or consensus from large groups of stocks.

However, the shaking rhythm in the resistance zone can still continue in the coming sessions. A successful peak-breaking session will have the effect of relieving investors’ sentiment and drag a large cash flow to continue pouring into the market. Investors should focus on stocks that are forecasted to have positive first-quarter business results.

Bao Viet Securities (BVSC)

VN-Index is forecasted to move to challenge the resistance zone 1,250 – 1,265 points in the remaining sessions of the week. Market movements will continue to struggle with the strong differentiation according to the business results of each specific enterprise.

Domestic cash flow continued to be the main driving force supporting market movements in this period. Large-cap stocks, especially leading stocks, will alternately increase to support the market to go up in this period.

BIDV Securities (BSC)

Liquidity decreased slightly but remained at a stable level with positive market breadth, showing that cash flow is spreading to the market. Foreign investors turned to be net sellers again with cash flow differentiating to Midcap stocks, reflecting that the upturn momentum of the VN-Index may slow down and accumulate in the zone of 1,230 – 1,250 points.

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