Stock market commentary on 7/4: Maintain a positive trend in the short term

The situation of control of Covid-19 epidemic is showing positive signs, along with the prosperous development of the global stock market. These are the factors that will continue to support the market’s recovery momentum.

The domestic stock market increased the most in 19 years in the first trading session of the week. The market recovered strongly and spread widely in most groups and was supported by booming liquidity.

At the close, the VN-Index increased by 34.95 points to 736.75 points, of which the VN30 increased by 33.5 points to 682.65 points. Market breadth was positive, the whole market had 331 gainers / 58 losers, in the VN30 basket there were 29 gainers, no losers and one kept reference.

Stocks that had the most positive impact on the VN-Index today were VIC, VHM and BID, contributing 6.08, 3.83 and 2.76 points respectively. On the contrary, the most negative influences on VN-Index today were QCG, HRC and DTL when taking the index out of 0.02 points at the same time.

The market liquidity was at a high level with the matched value of nearly 3,787 billion dong. Foreign investors’ trade was not very positive as they continued to net sell with a total value of nearly 700 billion dong on the market.

The domestic market has started the week of fullness after breaking out strongly with the strongest increase session in Asia. The difference between this session and previous gaining sessions was that the liquidity increased thanks to the consensus of large stock groups.

Here are the comments of securities companies on April 7:

Stock market commentary on 7/4: Maintain a positive trend in the short term

VN-Index movement. Source: FSC.

MB Securities Joint Stock Company (MBS)

In a positive scenario, the market is likely to create a small double bottom pattern at the support level of 650 points and target the target price zone at 750 – 800 points. During the recovery process, investors pay attention to vibrations in the 720 – 750 points. With increasing / decreasing sessions, the market will likely create a higher bottom than the previous bottom.

Yuanta Vietnam Securities Corporation (FSC)

The market is likely to correct and the VN-Index will fluctuate around 727 points. At the same time, the market entered an accumulation period showing that the short-term risk has decreased significantly and the profit-taking pressure may increase in the next few sessions and the market will appear with continuous shaking waves in the next few sessions.

Bao Viet Securities Corporation (BVS)

VN-Index is expected to challenge the resistance level of 745-750 points in the next few sessions. Here, the market is likely to be under profit-taking pressure and correcting again to test the support area of 700-720 points.

However, the negative point still came from the strong and prolonged net selling of foreign investors. In addition, risks of market movements in the coming time will come from information on first-quarter business results of enterprises and macro data that will be gradually announced in April.

Investors should only consider the statements of securities companies as a reference source. Securities companies all recommend disclaiming liability for these statements.

Source: vietnambiz.vn

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