VN-Index could not escape the correction

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At the end of last week, the VN-Index only dropped slightly thanks to the positive efforts of ACB and MBB. Specifically, the HoSE index lost 0.88 points (or 0.07%) to close at 1,173.5 points. The HNX was different with a slight increase of 0.22 points (0.1%), the closing price was 231.18 points. Along with the HNX was UPCoM with an increase of 0.78 points (equivalent to 1.04%), closing at 76.13 points.

The VN30 Index had the biggest drop with 7.35 points (0.62%), to close at 1,180.59. Most of the stocks in this group dropped, typically SBT (-2.1%), FPT (-2.0%), REE (-1.7%), VPB (-1.7%). … Only a few stocks increased, supporting the VN30 index did not fall deeply like MBB (+ 2.5%), BID (+ 1.6%), CTG (+ 0.5%), STB (+0.5 %) …

Although the HoSE declined, many Midcap stocks appeared with positive closing prices such as RIC (+ 7.0%), SFI (+ 7.0%), ILB (+ 6.9%), and PAN. (+ 6.9%)… The HNX recorded more gainers such as CSC (+ 9.7%), VHE (+ 10.0%), VGS (+ 9.4%), L14 (+9 , 0%)… On UPCoM also appeared stocks with good liquidity and good gain such as LTG (+ 6.7%), G36 (+ 6.8%), SGP (+ 6.3%) …

Foreign investors’ trade in the session did not really stand out with a slight net selling of nearly 12 billion. HoSE was sold 12.85 billion, focusing on VNM (-116.2 billion), CTG (-96.3 billion), HSG (-54.4 billion), NVL (-44.3 billion)… HNX had a low net selling, only 0.61 billion, focusing on IDV (-2.88 billion), PVS (-1.95 billion), CSC (-1.7 billion) … Only UPCoM was foreign investors. net bought 1.54 billion, focusing on ACV (+1.7 billion), MCH (+1.58 billion), LTG (+1.57 billion) …

According to Rong Viet Securities Company (VDSC), the correction level of the market after two exciting early spring sessions was not strong, and there appeared a clear cash flow differentiation. This securities company recommends investors to wait for blue-chips to complete the correction or join a group of stocks with positive differentiation in the market in this situation.

From the point of view of technical analysis, Ban Viet Securities Company (VCSC) said that the short-term technical signal is still maintained at Positive level for all stock indices. However, the old peak in January at 1,188 points for the VN30 and at 1,420 points for the VNMidcap continues to be a strong resistance to the market.

VCSC forecasts that in the first trading session of the week, the fact that the stock indices maintain a close above the MA3 line may prompt a rally for the VN30 to retest the resistance at 1,188 points, while the VN-Index tests resistance is close to 1,200 points.

“In this scenario, the tension will likely continue at high prices and create a shake, differentiation and even a correction at the indices. Then, the VN-Index will test the support. The nearest support is the MA3-day line at 1,168 points; if it falls below this support, the sellers will dominate again and increase the correcting pressure for the market.The stronger support levels are created by MA5, MA10. of the VN-Index is currently located at 1,125-1,145 points “, this securities company stated point of view.

Meanwhile, Bao Viet Securities Company (BVSC) forecasts that VN-Index may accumulate correcting movements in the first sessions of the week and increase again at the end of the week. Stock groups will have a clearer differentiation in the next sessions. At the same time, the portfolio restructuring activities of investment funds according to MSCI’s indexes in the frontier market will have a more pronounced effect on market movements in the last week of February.

According to BVSC’s experts, investors should increase the stock holding proportion in the portfolio to 50-70% of stocks, and give priority to holding medium – long term positions. Strong fluctuations and corrections of the market are still seen as an opportunity for investors to increase the proportion of short-term positions in the portfolio.

Source: – Translated by