Investment analysis
KB Securities Vietnam (KBSV) : KBSV assesses that a reversal signal has appeared with a slowdown in demand after briefly surpassing the short-term peak, forming a typical bull trap, accompanied by increased liquidity, signaling the possibility of a short-term market correction.
Although the VN-Index is likely to continue facing volatility around the 1,250 (+/-5) level, demand is expected to rebound around nearby support zones.
Saigon - Hanoi Securities (SHS) : From a short-term perspective, the VN-Index is likely to continue experiencing erratic movements in the near future as it is trading at a strong resistance level around 1,250 points.
SHS believes the market needs strong pullbacks and consolidation before it can move towards higher price levels.
From a medium-term perspective, the market is currently moving towards forming a broad medium-term accumulation channel in the 1,150 - 1,250 point range. Currently, the VN-Index has approached the upper resistance level of this accumulation channel.
Yuanta Securities Vietnam (YSVN) : The market may continue its upward trend, with the VN-Index heading towards 1,268 points in the next trading session.
At the same time, downward pressure is showing signs of increasing as bearish divergence is forming on technical indicators, so if the VN-Index fails to break through the resistance level of 1,268 points in the March 1st session, investors should temporarily stop making new purchases.
However, YSVN assesses that opportunities for new purchases in the short term continue to increase.
Stock market news brief
- Vietnam recorded a trade surplus of US$4.72 billion in the first two months of the year. According to the socio -economic report published by the General Statistics Office, in February 2024, the total value of goods exports and imports was estimated at US$48.54 billion, a decrease of 25.8% compared to the previous month and a decrease of 1.8% compared to the same period last year.
In the first two months of 2024, the total value of goods exports and imports is estimated at US$113.96 billion, an increase of 18.6% compared to the same period last year, with exports increasing by 19.2% and imports increasing by 18%. The trade balance showed a surplus of US$4.72 billion (compared to a surplus of US$3.5 billion in the same period last year). Specifically, the domestic economic sector had a trade deficit of US$3.53 billion, while the foreign-invested sector (including crude oil) had a trade surplus of US$8.25 billion.
- Increased demand for Tet (Lunar New Year) shopping and high rice prices pushed the CPI in February up 3.98% year-on-year. Accordingly, the CPI in February 2024 increased by 1.04% compared to the previous month; increased by 1.35% compared to December 2023 and increased by 3.98% compared to the same period in 2023. On average, for the first two months of 2024, the CPI increased by 3.67% year-on-year; core inflation increased by 2.84% .
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