Big money has not entered the stock market yet

In yesterday's trading session, January 16, the positive buying force entering the market after the sensitive 2:00 p.m. period was directed towards the bluechip group. Although not too strong, it spread well on the electronic board in general, especially the positive increase in the steel group.

This helped VN-Index to increase sharply to nearly 1,160 points and surpass this threshold in the ATC session. However, this bright spot could not make caution disappear when the general liquidity remained low and the derivatives expiration session was approaching.

The market suddenly "turned around" spectacularly and foreign investors also contributed by increasing the net buying value by 2.5 times compared to the previous session, focusing on buying MWG and banking stocks. On the HOSE exchange, foreign investors bought 37.11 million units, with a total value of VND 1,042.02 billion. In the opposite direction, this group sold 31.18 million units, worth VND 893.42 billion. Accordingly, foreign investors net bought 5.93 million units, with a corresponding net buying value of VND 148.6 billion, more than 3 times in volume and more than 2.7 times in price compared to the previous session.

There is currently no evidence of a widespread cash flow as only a few individual stocks with medium and small capitalizations are responding to the general index's upward momentum, and there is no consensus across the market, or an upward trend alternating between industry groups over sessions like in the previous period. Therefore, it can be said that the current cash flow is quite highly concentrated in a few groups of stocks such as banks, securities and a few other individual stocks.

Therefore, the market needs to wait for a signal confirming the entry of large cash flows into the market, which is an improvement in average liquidity of the session along with an explosive increase to create momentum for the market to move up.

Regarding the market trend, with the strong increase towards the end of yesterday's session, although there were many times during the session when it fell below the support level of 1,150 points, experts expect that VN-Index has successfully tested the support level and will form a new uptrend and the initial target is the 1,180-1,200 point zone.

TVSI Securities Company experts analyzed that the VN-Index ended the trading session with a positive bullish candlestick, Bullish Engufling, and recorded a bounce from the short-term support zone around 1,150 points. Although the increase was quite positive, the increase with low liquidity as it is now shows that the chance of overcoming resistance is not high.

In the next trading session, the index is likely to retest the resistance level around 1,165 points to confirm the continuation of the short-term uptrend.

TVSI experts believe that the opportunity to overcome the resistance zone in the near future is still not high, because the increasing liquidity is very low and the index tends to form a horizontal re-accumulation zone at a high price level.

Meanwhile, experts from Yuanta Vietnam Securities Company believe that the market may continue to increase and the VN-Index may retest the resistance level of 1,169 points in the next session. At the same time, the market is still in a short-term accumulation phase, so the price chart may still experience a correction when the index enters the resistance level of 1,169 points. In addition, the short-term sentiment indicator continues to decrease, showing that investors are still worried about the current market developments.

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