The short-term trend of VN-Index remains negative after the unsuccessful recovery to retest the resistance zone around 1,255 points.
VN-Index rebounded after reaching the 1,220 point level. At the end of the week, VN-Index decreased by -5.51 points (-0.44%) to 1,236.6 points. The market breadth at the end of the week was positive in favor of buyers with 203 stocks increasing in price, 124 stocks decreasing in price, and 47 stocks remaining unchanged on HoSE.
Liquidity on both exchanges this week improved compared to the previous trading week when matched volume increased by 8.95% on HoSE and increased by 18.9% on HNX.
Food and beverage groups contributed to the increase in points, typically VNM (+8.66%), HAG (+0.41%)...
The oil and gas group reacted to the Middle East tension between Iran and Israel with green from stocks BSR (+1.82%), PVC (+0.72%), OIL (+2.76%)... Banks were also positive VPB (+1.9%), TCB (+3.3%), SSB (+2.96%), NAB (+5.9%), BID (+3.24%), VCB (+1.6%)...
The real estate group showed signs of recovery after a decline before the general market. In particular, QCG continuously hit the floor after legal-related information, QCG decreased by 30% during the week.
Stocks that have increased sharply (VGI, HVN) are still under strong selling pressure and decreased by more than 20%. The chemical group also decreased: DGC (-5.39%), CSV (-0.13%), DPM (-0.85%), DDV (-3.31%)...
Steel stocks reacted negatively to the news of the EU's anti-dumping investigation, specifically HPG (-0.73%), NKG (-6.64%), HSG (-7.34%), TLH (-14.23%), SMC (-18.28%)...
On HoSE, foreign investors returned to net buying 410 billion VND after many consecutive weeks of net selling.
Domestic individual investors were surprisingly the only net sellers with a value of VND2,490 billion.
In the afternoon of net buying, domestic organizations bought the most with a value of VND 2,070 billion, followed by the self-employed group with a value of VND 1,624 billion.
According to SHS Securities Company's experts, the short-term trend of VN-Index is still negative after the unsuccessful recovery to retest the resistance zone around 1,255 points, corresponding to the highest price zone of the year as well as the short-term and medium-term trend line connecting the lowest price zones in November 2023, April 2024 and July 2024, leading to strong selling pressure.
Currently, the strong resistance zone of VN-Index is 1,255 points and the support is the lowest price of 1,218.7 points on July 24, 2024.
The developments in the last 2 trading sessions when VN-Index adjusted to 1,209 points and recovered above the lowest price on July 24, 2024, with many stocks under strong selling pressure and recovering well, especially stocks with good fundamentals and good growth in Q2 business results, showed strong fluctuations in these 2 sessions, with many short-term shedding characteristics for speculative positions, high leverage... and opening up many positions to accumulate good quality stocks.
Source: https://baodautu.vn/goc-nhin-ttck-tuan-5-98-xu-huong-ngan-han-van-kem-tich-cuc-d221612.html
Comment (0)