Friday, October 7, 2022 9:54:57 PM - Markets open
VN-INDEX 1,035.91 -38.61/-3.59%
HNX-INDEX 226.09 -9.04/-3.84%
UPCOM-INDEX 79.98 -2.43/-2.95%
Shares to move up after testing supply and demand
Vietnamnews - 8/1/2022 3:47:10 PM
 (0 ratings. You must sign in to rate.)
 Shares are expected to move up thanks to returning cash flow after testing supply and demand.
 
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 0.15 per cent to end last week at 1,206.33 points.
 
The index had gained a total 0.97 per cent last week.
 
Nearly 515.4 million shares were traded on the southern exchange during each session last week, worth VNĐ12 trillion (US$514.1 million).
 
“In the last trading session of July, the cash flow remained cautious when VN-Index continued to gain and approached the strong resistance area of 1,215-1,220 points,” said Việt Dragon Securities Co.
 
“Although there was a good bullish signal in the previous session, VN-Index approached the resistance area of 1,220 points in a cautious way. zzThe short-term profit-taking pressure is still exerting pressure, so it is likely that the market will need more time to test supply and demand in the zone of 1,200 – 1,220 points of the VN-Index.
 
“Therefore, investors should temporarily limit chasing, and may consider buying and accumulating stocks that are near support areas or showing signs of attracting cash flow,” Việt Dragon Securities Co said.
 
“If strong swings occur during the last session of the week, investors can take advantage of the opportunity to open long trading positions or increase stock exposure,” said Bảo Việt Securities Co.
 
“For existing positions, investors should continue to actively sell to secure profits at specific resistance zones of each stock and can consider rotating to stock groups that have not gained.
 
“On the other hand, investors should actively place trailing stop-loss orders at breakeven points to ensure the safety of existing positions in the portfolio,” said the company.
 
The market's pillar stocks last week were banks, which helped the market recover positively. These stocks included Bank for Investment and Development of Vietnam (BID) up 5.1 per cent, Vietcombank (VCB) up 3 per cent, VPBank (VPB) up 2 per cent, Vietinbank (CTG) up 1.1 per cent and Techcombank (TCB) up 0.9 per cent.
 
They were followed by financial stocks such as SSI Securities Inc (SSI) up 2.2 per cent, HCM Securities Corporation (HSC) up 5.9 per cent, Việt Capital Securities Inc (VCI) up 6.6 per cent. Insurance stocks like Bảo Việt Holdings (BVH) was up 2.7 per cent, the BIDV Insurance Corporation (BIC) up 6.1 per cent, PVI Insurance (PVI) up 6.4 per cent, Agriculture Bank Insurance Joint Stock Corporation (ABI) up 10.2 per cent.
 
On the other hand, utilities services dropped the most with PetroVietnam Gas JSC (GAS) losing 0.3 per cent, Bình Dương Water - Environment Joint Stock Company (BWE) down 0.6 per cent, Refrigeration Electrical Engineering Corporation's (REE) down 7 per cent.
 
Steel stocks also dropped with Hòa Phát Group (HPG) losing 3.2 per cent, Hoa Sen Group (HSG) down 6.4 per cent and Nam Kim Group (NKG) down 7.5 per cent. — VNS
 
Read original article here
 
Newer News
04/10 Rising public investment to lift various stocks
28/09 Shares tumble for second day but slow on falling selling pressure
14/09 Corporate bond market has ample room for improvement
13/09 Delisting poor quality shares helps make market more transparent
09/09 Shares extend losses as major industries lose ground
06/09 Việt Nam one of world's best performing stock markets in August
05/09 Securities companies’ race heats up amid low market liquidity
30/08 Corporate bond issuance declines in the first six months
25/08 Shares rise for second day, propelled by food stocks
23/08 Shares slide on heavy selling force
Older News
27/07 Vietnamese shares fall as large-caps drag
25/07 Investors to find opportunities in individual stocks: experts
19/07 VN-Index falls for second day in a row
15/07 Shares post gains on the back of securities stocks
09/07 SSC eyes prompt detection of suspicious transactions
07/07 Shares pierce May-bottom on weak investor sentiment
07/07 HOSE announces list of top 10 securities companies
07/07 Over 1.6 billion shares could enter market in July
06/07 Seasoned investors unaffected by stock fluctuation
05/07 Market mixed due to rising selling force
 
Newsletter Signup
Top Stories
Investors warned of the possibility of corporate bond default
Việt Nam retains positive economic outlook in short-term: World Bank
Reference exchange rate up 13 VND on Sept 14
Việt Nam one of world's best performing stock markets in August
Securities companies’ race heats up amid low market liquidity
Market Update
Last updated at 3:05:04 PM
VN-INDEX 1,035.91 -38.61/-3.59%
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.