Investment Comments
KBSV Securities: VN-Index fluctuated strongly during the session before recovering and regaining most of the lost gains towards the end of the session. The overwhelming demand increased towards the end of the session, combined with the support level around 1.15x, helping VN-Index avoid a deep decline.
However, with the downtrend still playing a dominant role, VN-Index is likely to continue to face correction pressure in the following sessions with the near resistance level set around 1.19x-1.20x. Investors are recommended to increase the short-term trading proportion in the correction sessions around the mentioned support zone.
BOS Securities: Technically, VN-Index recovered strongly after reaching the support of the mid-term trendline, closing above MA50 and forming a pinbar candle with a long lower shadow, signaling a high probability of a bottom today. The index is expected to fluctuate but the trend will gradually move towards the 1,200 mark.
Investors are recommended to keep the stock ratio at a moderate level, and can partially disburse stocks in securities, banking, real estate, transportation, and petroleum.
TPS Securities: VN-Index recovered with a long lower shadow candlestick pattern at the support zone of 1,150-1,160 points (bottom of May, June and July 2022), proving that demand has returned here. Especially in the context of the afternoon session witnessing a large amount of stocks from the session on August 18 arriving in accounts, thereby reflecting the consensus of this group of investors to support the market.
With the above developments, it is expected that VN-Index will have an accumulation period on the support level of 1,150-1,160 points to completely absorb profit-taking supply before breaking out again and aiming for the 52-week peak (around 1,300 points).
Stock news
- In the first 7 months of the year, fertilizer exports reached nearly 942,576 tons with a turnover of more than 391 million USD, down 15% in volume and 46% in turnover compared to the same period in 2022. Fertilizer industry stocks decreased in price at DPM (-1.62%), CSV (-1.99%).
- According to data from the Vietnam Food Association (VFA) updated to August 18, the price of 5% broken rice on the market is being traded at 628 USD/ton, up 37% compared to 458 USD at the end of 2022 and early 2023. The export price of 25% broken rice is at 618 USD/ton, up 41% .
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