VN-Index grows with the nearest support zone around 1,265 points
After two consecutive sessions of decline, the stock market opened and traded around the reference level on the morning of September 24. Liquidity gradually improved and increased in the afternoon session, helping the VN-Index close the session on September 24 up +8.51 points (+0.67%) to 1,276.99 points. The HNX-Index closed at 234.32 points (+0.94 points, equivalent to +0.40%). The market breadth was in favor of the buyers with 203 stocks increasing in price, 94 stocks decreasing in price, and 69 stocks at the reference level on HOSE. The HNX traded with 86 stocks increasing in price, 73 stocks at the reference level, and 56 stocks decreasing in price.
Liquidity on both exchanges improved compared to the previous trading session when the matched volume increased by +8.35% at HOSE and +33.15% at HNX. The most active industry group contributing to the market's increase on September 24 was Banking when 19/27 codes simultaneously increased, notably NAB (+4.17%), SSB (+3.45%), STB (+3.41%), VPB (+1.05%), VIB (+3.24%)... only PGB decreased (-2.3%) and 7 codes stood at the reference price. In addition, some other stock groups also had impressive developments such as Industrial Park Real Estate, Chemicals and Rubber, Food and Beverage...
Notably, in the session of September 24, some other industries witnessed many codes with different scores such as Insurance with BMI (+0.44%), MIG (+0.60%), PTI (+2.71%), however, BVH and ABI both (-0.34%)... The Automobile and Spare Parts industry group also differentiated with HTL increasing dramatically (+6.86%), CTF (+1.17%) and yellow from HUT, HAX, CSM (0%) and the decrease of DRC (-1.10%), HHS (-0.12%)...
According to experts from Saigon - Hanoi Securities Company (SHS), in the short term, VN-Index has tested the support zone around 1,250 points well. In the short term, VN-Index is growing with the nearest support zone around 1,265 points. VN-Index has also recovered well in this support zone and continues to move towards the price zone of 1,280 points - 1,300 points, corresponding to the trend line connecting the highest price zones in June - August 2024. Meanwhile, VN30 will face a very strong resistance zone around 1,340 points, the highest peak zone in June and August 2024.
In the medium term, VN-Index is accumulating positively in the range of 1,250 points to 1,300 points, expanding to 1,320 points. This is the upper half of the price channel of more than 1,180 points - 1,200 points to 1,300 points - 1,320 points that has lasted since the beginning of the year. With the current development, VN-Index continues to accumulate in the price range of 1,250 points to 1,300 points and is expected to surpass the price range of 1,300 points to move towards price ranges higher than 1,320 points in the fourth quarter of 2024. Of which, 1,250 points is the highest price zone in 2023, 1,300 points - 1,320 points are very strong resistance zones, peak prices in June-August 2022 and peak prices in the first months of 2024. Meanwhile, VN30 has strong resistance at 1,340 points and 1,350 points corresponding to peak prices in June 2024 and June 2022.
“In the short term, investors should not chase the trend when the VN-Index continues to increase to the price range of 1,280 points - 1,300 points. The market is also gradually entering the end of the third quarter of 2024, buying positions need to be based on business results. Investors should maintain a reasonable proportion, in case the proportion is below average, new cash flow can still consider, increase, and expand the portfolio for stocks that have not recovered much, with a price range equivalent to the time when the VN-Index was 1,250 points before. The investment target is to target leading stocks with good fundamentals, good growth in the second quarter, and positive growth prospects for the third quarter,” said an SHS expert.
VN-Index may test the resistance level of 1,288 points
According to the analysis team of ASEAN Securities Company (ASEANSC), the market continued to maintain the recovery trend, especially with the rotation of Industrial Park stocks in the morning session. In the afternoon session, the Banking group returned to the leading position and became the driving force for the index to regain green.
“The market will have short-term recovery sessions, however, investors should pay attention to objective factors and world market developments to make appropriate trading decisions. Short-term transactions should be made carefully. Investors should maintain a stable stock ratio and proactively have cash to be ready to trade when large stocks adjust to attractive levels,” ASEANSC experts noted.
Sharing the same view, experts from Yuanta Vietnam Securities Company (YSVN) said that the market may continue to increase and the VN-Index may test the resistance level of 1,288 points in today's session, September 25. At the same time, the group of large-cap stocks is still in a period of strong fluctuations in a positive direction, showing that the short-term uptrend in this group of stocks is becoming clearer. In addition, the sentiment indicator continues to increase, showing that investors are more optimistic about the current market developments.
“The short-term trend of the general market remains neutral. Therefore, investors should continue to gradually increase their stock holdings and make new purchases,” YSVN experts recommended.
► Some stocks to watch on September 25
Source: https://vov.vn/thi-truong/chung-khoan/nhan-dinh-chung-khoan-259-vn-index-co-the-kiem-tra-muc-khang-cu-1288-diem-post1123792.vov
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