Stock Commentary from January 8 to 12: After a favorable spring opening week, Vietnam’s index may enter a volatile rhythm

The new year 2024 has started well, with strong gains and the market approaching the resistance at 1,160 points. Securities firms will provide market commentary to investors next week. There are a lot of positive points for VN-Index in its first week of trading. The index rose in all four trading days at the beginning of the year, with a total score of 24.75 points (+2.14%), extending the VN-Index’s continuous upward trend to six trading days. This week also has the billion-dollar trading session on January 4, with liquidity exceeding VND25 trillion.

The Vietnam Index closed at 1,154.68 points this week, successfully breaking through the 1,150 point mark.

VCBS Securities: Neutral – Need to consider the possibility of a shock as VN-Index is still far away from MA20

From a technical perspective, VN-Index recorded an exciting first trading week of the year in terms of liquidity. On the hourly chart, the MACD indicator formed its first peak when the Vietnam Index approached the resistance area of ​​1,150-1,160 points. In addition, the RSI indicator in the chart above is also in the high zone, indicating that short-term profit-taking pressure may still unexpectedly appear.

From the daily chart, the Bollinger Bands are still expanding upward and MACD has not yet peaked, so the main market trend is still in a mid-term upward trend. However, after experiencing a strong rise, the VN-Index is currently quite far away from the MA20 moving average, so the possibility of a sharp market correction still needs to be considered in the short term.

We recommend that investors should remain cautious at this time and only increase buying when the VN index shows a clear signal confirming that the market has convincingly broken through the resistance area around 1150-1160 points or paid, for stocks with good cumulative performance, price basis Be supported.

Industry groups that investors can consider in the near future are stocks, real estate and nitrogen fertilizers.

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TPS Stock: Neutral – Awaiting a break above the 1,160 threshold

This week, the VN-Index continued its upward momentum, returning to the important MA lines of the 20-week and 200-week SMA, thereby entering the October 2023 peak area (equivalent to the 1,150-1,160 point area). ).

At the same time, liquidity continues to improve, indicating improved cash flow. Looking at the daily chart, the uptrend that started on December 19, 2023 continued when the Vietnam Index closed in the green at the 1,150-1,160 point resistance area (peak in October 2023) during the weekend session. What’s more worth mentioning is that despite the previous strong selling pressure in the resistance area resulting in a long upper shadow, the index continued to penetrate the resistance area, thanks to the recovery of the banking group. At the same time, market liquidity remains above the 20-day moving average, proving that upward momentum is still supported by cash flow.

Next week, the 1,150-1,160 area will remain an important resistance that the index needs to overcome to open up a long-term bullish outlook for the market.

in stock High temperature and pressure (HN:): Negative – the market may experience a volatile correction next week

In the short term, the market is actively running and has been running near the resistance level of 1,150 points. When the VN-Index approaches this resistance level, the market is likely to experience adjustment shocks. However, with the momentum of the movement based on good short-term accumulation, we expect the Vietnam Index to soon overcome this resistance level and enter the medium-term accumulation expected area.

MAS Securities (HN:): Positive – The market is set for a positive trading week, watch out for the 1,160 mark

The VN index has risen for 6 consecutive trading days, and the upward trend dominates. This week, the index showed signs of slowing down in the 1,160-point area, with bank stocks taking strong profits after rising rapidly.

We believe there may be tension in early trading next week, and the two important milestones that investors need to pay attention to are 1150 and 1160. The short-term technical signal is +5 (positive). VN-Index has a price-to-earnings ratio of 15.3 times.

BSC Securities: Neutral – Market could slightly accumulate 1,150-1,155 points

The market trading range throughout the day on January 5 was 1,150-1,155 points, and finally closed at 1,154.68 points, an increase of nearly 4 points from the previous trading day. The breadth of the market is quite balanced. In 9/18, the industry experienced a large increase, with the retail industry leading the increase, followed by the banking industry and the chemical industry.

In the short term, the Vietnam Index can continue to accumulate funds in the range of 1,150-1,155 points, with the range gradually narrowing.

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