Recommendation on the stock market on January 14th: Re-test the resistance zone of 1,200 – 1,220 points

The VN-Index may retest the resistance zone of 1,200 – 1,220 points in the next sessions. This psychological resistance zone can continue to create resistance to the market’s uptrend in the short term, especially when many groups of stocks are overbought.

The market on January 13 had a divergence with overwhelming selling pressure at a strong resistance, so the HOSE index had a correction session.

At the end, VN-Index fell 6.23 points, or 0.52%, to close at 1,186.05 points. GVR, VPB and BVH were the three most positive support codes for the gain of the VN-Index today, contributing 2.21 respectively; 0.53 and 0.44 points. Meanwhile, VIC, VHM and VNM were the three stocks with the most negative impact on the index, removing 3; 2.25 and 1.01 points.

The matched trading value of the whole market reached 19,575 billion dong. Foreign investors net sold 350 billion dong in the whole market.

Technical chart for VN-Index. (Source: FSC).

Here is the opinion of securities companies on January 14:

Yuanta Securities Vietnam (FSC)

The market may continue correcting in the next session, but this correction may not take place too strong or the VN-Index might return to the uptrend and test the 1,200 point level.

Besides, the short-term risks are still low, but the market mainly sees corrections due to the profit-taking pressure after a strong rally and the VN-Index faces a strong resistance of 1,200 points. . The short-term trend of the general market remains upside down.

Bao Viet Securities (BVS)

The VN-Index encountered the pressure of shaking and correcting when it approached the resistance zone of 1,200 – 1,220 points today. The index might retest this resistance level in the next few sessions.

However, this psychological resistance zone will continue to create resistance to the market’s uptrend in the short term, especially in the context that many groups of stocks have been overbought.

BIDV Securities (BSC)

Market breadth turned negative and liquidity increased compared to the previous session. VN-Index is forecasted to fluctuate in the next sessions.

Investors should only consider comments of securities companies as sources of reference information. Securities companies all have recommendations to exempt the responsibility for the above comments.

Source: vietnambiz.vn – Translated by fintel.vn