Upward trend to 1,140 – 1,160 points

Investment Comments

Vietcombank Securities (VCBS): From a technical perspective, looking at the daily chart, VN-Index is still having a stable accumulation and sticking closely to the MA200 moving average. There is a high probability that VN-Index will soon have a new uptrend to move towards the 1,140 - 1,160 point area.

VCBS recommends that investors can take advantage of the fluctuations to increase the proportion of stocks available in the account and give signals of successful testing of the support zone. Currently, VN-Index is still sticking to the old peak area and may surpass this resistance zone after completing the accumulation process.

Asean Securities (Aseansc) : The market remained positive when closing above the 1,125 point threshold, and continued to accumulate above the long-term trend line MA200 (1,118 points) for the 6th consecutive day despite net selling pressure from foreign investors.

Aseansc assesses that the VN-Index has a high probability of increasing in the upcoming trading sessions, when cash flow tends to rotate to large-cap stocks. Therefore, investors should maintain the proportion of stocks in their portfolio at an above-average level (70%) and wait for positive signals from the market to look for short-term trading opportunities.

Beta Securities : In the trading session of December 12, the inability to overcome the resistance level of the old peak, along with unimproved liquidity and pressure from foreign investors, could still cause the market to shake and cash flow to be cautious.

However, investors can prioritize accumulating stocks of businesses with positive business prospects in the fourth quarter of 2023 and 2024 in the context of interest rates still maintaining a downward trend, along with policies to support consumption and promote public investment in the coming time.

Stock news

- Coffee prices on December 11 in the Central Highlands provinces decreased by VND200/kg, compared to the end of December 10. Currently, coffee prices fluctuate between VND59,800 - VND60,700/kg, with an average selling price of VND60,500/kg.

- US inflation expectations fell sharply in December. US consumers were less worried about inflation in December 2023 as energy prices plunged and the Fed's monetary policy began to take a heavy toll on the economy. In the latest survey of consumer sentiment from the University of Michigan, one-year inflation expectations fell to 3.1%, down sharply from 4.5% in November 2023 and the lowest level since March 2021 .

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