The stock market today (November 8) witnessed a strong cash flow in the afternoon session. At the end of the session, the VN-Index jumped 33.14 points, equivalent to 3.07% to 1,113.43 points. Similarly, the HNX-Index closed at 227.03, gaining 8.74 points. The total market liquidity reached more than VND21,533 billion, the highest in the last 9 sessions.
Market breadth was positive with all sectors covered in green. 84 stocks hit the ceiling. According to statistics, securities and chemical stocks maintained the best green color, followed by chemicals, tourism and entertainment...
In contrast to domestic cash flow, foreign investors continued to net sell throughout the trading session with a value of 296 billion VND, concentrated in MWG, VHM, VRE, MSN... They net bought nearly 60 billion VND on HNX.
From a technical perspective, VCBS Securities Company said that on both daily and hourly charts, most indicators are pointing up positively thanks to strong demand and have not yet shown signs of forming the next peak. With the current developments, VN-Index may still maintain a positive trend but there will be differentiation in the short term.
Investors should take advantage of good uptrend sessions to realize partial profits. Only buy 10-20% more for stocks available in the account and proactively plan short-term trading, surfing T+.
Forecasting the market for tomorrow's session (November 9), Vietcap Securities Company believes that VN-Index may continue to increase inertia in the morning session to test the MA200 resistance at 1,115 points. After that, the tug-of-war may take place here and the possibility of VN-Index retreating or correcting down at the end of the day cannot be ruled out.
In this scenario, the index's MA20 support level at 1,090 points may be tested. However, if the buying force continues to dominate, helping VN-Index close above MA200, the index is likely to continue to increase afterwards, heading towards 1,140 - 1,145 points where the MA50-day line is located.
Similarly, BSC Securities Company also forecasts that in the coming trading sessions, the market may continue to increase inertia and move towards the resistance level of 1,155 points.
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