Thursday, March 28, 2024 4:55:20 PM - Markets open
VN-INDEX 1,290.18 +7.09/+0.55%
HNX-INDEX 243.92 +1.07/+0.44%
UPCOM-INDEX 91.48 +0.30/+0.33%
Shares to move higher this week but cautious sentiment remains
Vietnamnews - 12/12/2022 4:39:53 PM
 (0 ratings. You must sign in to rate.)
VN-Index is forecast to move up to test the 1,030-1,080 point range this week but cautious sentiment still prevails.
 
On the Hồ Chí Minh Stock Exchange, the VN-Index edged up 0.12 per cent to close Friday at 1,051.81 points. Overall, the southern bourse’s market index lost 2.6 per cent during the week.
 
An average of 1 billion shares were traded on the southern market during each session last week, worth 17.4 trillion (US$738 million).
 
“The market has not yet exited the state of exploration and dispute near the short-term support area, around 1,040 points. However, the fluctuation range and matching volume are being narrowed significantly,” said Việt Dragon Securities.
 
“This shows that cautious sentiment still prevails and Investors seem to be waiting for clearer signals from the market to make trading decisions. It is likely that VN-Index will still move within the range of 1,030-1,080 points and the recovery span to test the upper boundary may take place in the early sessions of next week.
 
“Therefore, investors should still observe supply and demand movements to re-evaluate the state of the market. It is possible to consider short-term buying in stocks with good fundamentals when returning to the support zone but need to consider taking profits or restructuring the portfolio in the direction of minimising risk when the market rises to the resistance zone.
 
“Although the market was supported when it retreated, it was still in a state of exploration of supply and demand. It is expected that this movement will continue in the near future before there is a clearer signal. The range of fluctuation at VN-Index is 1,035-1,080 points, corresponding to the range of 1,035-1,095 points of VN30-Index.
 
“Therefore, investors should still observe supply and demand movements to re-evaluate the state of the market. It is possible to consider short-term buying in stocks which have good fundamentals, but consider taking profits or restructuring the portfolio in the direction of minimising risk when the market rises to the resistance zone.”
 
The downward trend from September continued to extend to November, causing VN-Index to lose the psychological support level of 1,000 points. With the important support level being penetrated, selling pressure continued to increase, causing the index to continuously plunge and once fell to the lowest level of the year at 873 points. However, this deep discount has strongly triggered bottom-fishing cash flow.
 
A recent report by TPS Securities said that the reversal of the VN-Index at the end of November helped Việt Nam's stock market keep pace with the recovery trend of the global market.
 
Entering December, the TPS expects this recovery to continue after the previous period of strong decline because at this stage, the market is receiving positive news such as the Chinese government easing some pandemic control measures, and the exchange rate cooling down and some commercial banks reducing lending interest rates.
 
Based on the VN-Index's movements, TPS forecast three scenarios for the market in December.
 
In the positive scenario, if the VN-Index can return above 1,130 points, attracting exciting cash flow again. The target of the indicator in this period is zone 1,131-1,200 points.
 
In the neutral scenario, VN-Index will move sideways in price channel 1,030-1,130 points with liquidity maintained above the 20-session average.
 
In the negative scenario, VN-Index is likely to retest the buying power at the psychological level of 1,000 points. VNS
 
Read original article here
 
Newer News
23/03 Shares sustain gains on strong investor confidence
20/03 Vietnamese securities companies race to boost capital amid high market demand
19/03 Large-caps pressured as increased profit-taking drives share decline
18/03 Market likely to be affected by Fed's meeting this week
18/03 Investors show strong interest in dividends at annual shareholders' meetings
15/03 VN-Index corrects, liquidity stays high
14/03 Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
13/03 Market rebounds from cautious sentiment
12/03 Losses in bank stocks weigh on market sentiment
12/03 ETFs continue to see strong outflows of foreign capital
Older News
12/12 Retail shares see great growth potential
03/12 How to regain investors' confidence in corporate bond market: experts
29/11 Credit concerns affecting Vietnamese stocks should ease soon: VinaCapital
23/11 VN-Index struggles on persistent selling force
23/11 Securities companies adjust business results amid market downturn
15/11 Market declines but bright prospect on horizon
14/11 Lo ngại về tính thanh khoản thấp trên thị trường chứng khoán
11/11 Listed companies raise cash reserves
10/11 Investors worried as speculative stocks plummet
07/11 Shares to face downward trend on increased sell-off
 
Newsletter Signup
Top Stories
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Market Update
Last updated at 3:05:00 PM
VN-INDEX 1,290.18 +7.09/+0.55%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.