The stock market enters the last trading week of 2023. With the psychology of resting before the long New Year holiday, the market often ignores important supporting information. Investors reduce the proportion of stocks in their portfolios - evidenced by the liquidity that has begun to decline since last week.
According to SHS Securities Company, the short-term market is continuing to accumulate tightly in the medium-term accumulation channel of 1,100 - 1,150 points. The possibility of a rebound in the VN-Index in the last trading week of 2023 to reach the nearest resistance zone around 1,130 points is still possible. However, the scenario of the index continuing to fluctuate around the 1,100 point area with low liquidity cannot be ruled out.
In the medium and long term, the VN-Index is likely to accumulate in the 1,100 - 1,150 point area. In a more positive scenario, the medium-term accumulation zone will be 1,150 - 1,250 points.
"Short-term investors in the current period should maintain a low proportion of stocks in their portfolio and continue to monitor market developments. Medium- and long-term investors can still consider gradually disbursing during periods of decline. The target should be leading stocks with good fundamentals, stocks with growth potential in the coming year and moving in an accumulation state," the expert said.
VCBS Securities Company forecasts that VN-Index will continue to accumulate and continue the recovery trend in the coming time. Investors should maintain their mentality during the volatile sessions and do not need to reduce the proportion at the present time. Investors can consider restructuring the portfolio, increasing the proportion or buying new stocks that are still performing well, maintaining the support zone or showing signs of surpassing the peak.
Sharing the same view, MBS Securities Company expects a prolonged recovery this week. The market is showing signs of entering a medium-term accumulation phase, indicating that medium-term risks have gradually decreased. Medium-term investors can continue to gradually increase the proportion to 35-40% of the portfolio.
This week, investors need to pay attention to some macroeconomic data for December and the whole year of 2023. Specifically, including: BOJ Chairman's speech, Japan CPI (December 24 - 26); US Richmond Manufacturing Index (December 27); Japan Manufacturing and Retail Sales Index, US Jobless Claims and Crude Oil Reserves (December 28); China PMI, US Chicago PMI (December 29).
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