Stock market comment on April 9: Rise back?

According to securities company, the market can quickly rebound after today’s correction because domestic cash flow has not weakened and foreign net selling value is still low.

The domestic stock market adjusted for decline after a series of 8 consecutive bullish sessions. The take profit movement in today’s session is appropriate due to the take profit pressure that has taken place in the last 3 sessions, the market also does not cross the threshold of 1,245 points and maintains the cumulative oscillity.

At the close, the VN-Index fell 7.49 points to 1,234.89 points, of which the VN30-Index fell 5.96 points to 1,251.81 points. Market breadth was inclined to sellers, the whole market had 167 gainers / 233 losers, in the VN30 basket, there were 6 gainers, 20 losers and 4 stocks kept the reference.

Market liquidity cooled down with a total matched value of nearly 13,205 billion dong, this could also be the reason why the market was struggling at this peak. Foreign investors’ trade took place when they net bought again with a total value of over 20 billion dong.

Stock market comment on April 9: Rise back?Technical chart for VN-Index. (Source: FSC).

Here is the statement of securities companies on April 9.

Yuanta Securities Vietnam (FSC)

The market may return to its uptrend in the next session and the VN-Index is still likely to challenge the resistance zone of 1,283 – 1,300 points in the next sessions.

At the same time, the market is still in a phase of strong volatility in a positive direction, so the correction is likely to end quickly. In addition, the medium-term risk remains low and the sentiment indicator remains in the positive territory.

Stock MB (MBS)

The correction of the market today is completely normal in the recent gaining process of the market, especially the VN30 group, which has had 9 consecutive gaining sessions.

Usually, after a break out of the accumulation zone, breaks are time to loosen or re-accumulate for more energy and this is needed for the market to grow more sustainably.

Therefore, this correction is technical because the uptrend is still the main trend of the market. The VN-Index is likely to maintain an accumulative fluctuation state and the cash flow shifted to small and medium stocks. In a more conservative scenario, the market might retest the support at 1,200-1230 points.

Bao Viet Securities (BVSC)

VN-Index will receive support from 1,225 – 1,230 points in the last session of the week. Market movements will continue to struggle with the strong differentiation according to the business results of each specific enterprise.

The index is still maintaining short-term uptrend with the near target price zone at 1,250-1,265 points. Domestic cash flow is still the main driving force supporting market movements in this period. Large-cap stocks, especially leading stocks, will alternately increase to support the market.

BIDV Securities (BSC)

Although the VN-Index corrected slightly, the market can quickly rise again when the domestic cash flow has not weakened and the net selling value of foreign investors is still low. Accordingly, investors can open positions or increase the proportion at some good fundamental stocks in this short-term correction.

Investors should only consider comments of securities companies as a source of reference information. Securities companies all recommend disclaimer for the above comments.

Source: vietnambiz.vn – Translated by fintel.vn

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