Investment Comments
KB Securities Vietnam (KBSV) : KBSV assessed that the reversal signal appeared with the slowdown of demand when it was about to exceed the short-term peak, forming a typical bullish trap, accompanied by increased liquidity, signaling the possibility of entering a short-term correction phase of the market.
Although VN-Index is likely to continue to face pressure around the 1,250 (+/-5) threshold, demand is expected to increase again around nearby support zones.
Saigon - Hanoi Securities (SHS) : From a short-term perspective, it is forecasted that the VN-Index will likely continue to have unusual movements in the coming time when it is trading at a strong resistance zone around 1,250 points.
SHS believes that the market needs strong shake-offs and accumulation before it can move towards higher price zones.
From a medium-term perspective, the market is moving to form a broad medium-term accumulation channel in the 1,150 - 1,250 point range. Currently, the VN-Index has approached the upper resistance zone of this accumulation channel.
Yuanta Vietnam Securities (YSVN) : The market may continue its upward trend and the VN-Index will head towards 1,268 points in the next session.
At the same time, correction pressure shows signs of increasing as bearish divergence signs are forming on technical indicators, so if the VN-Index cannot overcome the resistance level of 1,268 points in the session on March 1, investors should temporarily stop buying new shares.
However, YSVN assesses that new short-term buying opportunities continue to increase.
Stock news
- Vietnam had a trade surplus of 4.72 billion USD in the first two months of the year. According to the socio-economic situation report released by the General Statistics Office, in February 2024, the total export and import turnover of goods was estimated at 48.54 billion USD, down 25.8% compared to the previous month and down 1.8% compared to the same period last year.
In the first two months of 2024, the total import and export turnover of goods is estimated at 113.96 billion USD, up 18.6% over the same period last year, of which exports increased by 19.2%; imports increased by 18%. The trade balance of goods had a trade surplus of 4.72 billion USD (in the same period last year, there was a trade surplus of 3.5 billion USD). Of which, the domestic economic sector had a trade deficit of 3.53 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 8.25 billion USD.
- Demand for Tet 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% over the previous month; increased by 1.35% over December 2023 and increased by 3.98% over the same period in 2023. On average, in the first two months of 2024, the CPI increased by 3.67% over the same period last year; core inflation increased by 2.84% .
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