After 5 consecutive gaining weeks, VN-Index witnessed a corrective trading week. VN-Index lost more than 22 points (1.6%), while HNX-Index also lost 13 points (4%).
Supply and take profit dominated the market, causing the index to drop sharply and drop to 1,320 in the first two sessions of last week (June 7 and June 8). However, the demand for bottom-fishing increased rapidly when the index dropped to near 1,300 points on June 9 so the index recovered and gained and this trend continued until the end of the week.
According to MB Securities Company (MBS), the market is showing a very strong sentiment even though the bottom-fishing volume will return to the account in the first session of this week.
"This positive sentiment may continue to spread in the next session to help the market return to the race to conquer the top", MBS's analysis team assessed. Technically, the strong rally on June 11 of the market confirmed the reversal process around the 1,300 point mark, creating momentum for the market to enter a new rising wave. With the current strong uptrend, MBS believes that the market can move towards the target of 1,400 points in the coming sessions.
Investors trade online at the floor of a securities company on Pasteur Street, District 1, Ho Chi Minh City, early 2020. Photo: Quynh Tran.
With the same positive opinion, KB Securities also assessed that with good momentum, the index is likely to extend the recovery in the next session. However, the KBSV analysis team is somewhat more cautious when assessing the possibility of breaking the top, which will only be clearly confirmed when VN-Index successfully conquers the upper resistance zone at around 1,360 points.
"This is also a blocking point that can cause shaking pressure and risk of reversal in the next session," commented the analysis team from KBSV.
The resistance zone of the market below 1,400 points was also mentioned by Rong Viet Securities Company (VDSC) in its report last week.
The VDSC analysis team also shared a positive opinion when thinking that with the current support signal, VN-Index has a chance to regain the uptrend. However, the index might temporarily struggle and challenge at 1,355-1,375 points. This week, VDSC recommends that investors can take advantage of the current uptrend and at the same time exploit short-term opportunities in stocks with positive movements after accumulation.
Assessing recent market trends, Vietnam Bank for Foreign Trade Securities (VCBS) said that, in the context of strong fluctuations in the international and regional financial markets, the negative impact of sentiment to the Vietnamese market in the short term is inevitable. However, the analysis team considers the medium-long-term outlook to be positive on the basis of macro factors and the Covid-19 epidemic prevention and control work is still being done well.
"We think that the market divergence will likely continue to dominate as stocks with positive business prospects in the second half of 2021 and long-term growth potential will continue to attract investors. cash flow," the VCBS report said.
According to Vnexpress
