Stock market from April 12-16: It is possible to regain a positive position

Stock market from April 12-16: It is possible to regain a positive position

According to securities companies, cash flow has not shown signs of withdrawing from the market, is circulating among stock groups and helping to balance the market under short-term profit-taking pressure.

(Source: kinhtechungkhoan.vn)

The Vietnam stock market last week (April 5-9) saw ups and downs, and the index dropped again in the last sessions of the week.

However, the cash flow remained and foreign investors net bought trillions of dong, and the first quarter business results are expected to continue to support the market next trading week (April 12-16).

Market corrections

SSI Securities Joint Stock Company (SSI) stated that after surpassing the 1,200 point mark, the next target on the VN-Index will be at the range of 1,350-1,400 points. Therefore, corrections, if any, will create opportunities for investors to increase their stock exposure at more reasonable price ranges.

According to MB Securities Joint Stock Company (MBS), the market closed at the end of the week with a decline but was still the second consecutive week of increase. In terms of cash flow, the rhythm at the end of the session and the fact that the market can absorb larger amounts of T + 3 (settlement date of securities transactions) into the account is a positive side.

The correction of the market is also understandable after the recent rising streak, Q1 business results as well as information from the shareholder meeting season will be the driving force for the market to continue in the 5th uptrend wave. Technically, MBS stated the point.

Rong Viet Securities Joint Stock Company (VDSC), said that the correcting pressure last week was the result of a lack of breath in the previous session, but the adjustment of the VN-Index stopped at a low level and acted Trading is still active in some stock groups.

This shows that the cash flow has not shown any signs of withdrawing from the market, is circulating among stock groups and helping to balance the market under short-term profit-taking pressure. VDSC expects the market to gradually stabilize and regain a positive position in the near future.

Meanwhile, analysts from SHS Securities Joint Stock Company (SHS) said that VN-Index had its second consecutive week of increases and liquidity continued to be high, showing that cash flow was still rotating in the market, showing no signs of real withdrawal.

The market has a 5-day trading range with a range of 1,230-1,245 points and at the end of the week it still maintains the threshold of 1,230 points, so the current situation is still inclined to neutral, it is unclear which direction the market will break out.

On the perspective of Elliott wave, VN-Index has gone most of the up wave 5 with the target of 1,250 points and the time to complete the wave in the first half of April 2021. So the next trading week will be an important time to confirm whether the market will extend wave 5 to higher levels or correct.

According to the Elliott wave principle, the up phase of the market consists of 5 waves called push waves; in which, waves 1, 3 and 5 are bullish waves, waves 2 and 4 are bearish waves.

Next week is also the maturity week of VN30 futures contract in April 2021, so there is a possibility of strong fluctuations, investors should pay attention to this, SHS recommends.

At the end of April 12-16, VN-Index cannot close above 1,250 points, the market will likely enter a corrective wave with the nearest point 1.125.

Regarding market movements, at the end of the last trading week from April 5 to 9, the VN-Index increased by 7.21 points to 1,231.66 points; The HNX-Index fell 1.1 points to 293.79 points.

Liquidity on both exchanges increased slightly compared to the previous week and continued to be higher than the 20-week average with more than 19,700 billion VND traded per session.

Regarding the movements of the stock groups, the information technology stocks increased the most with 2.9% of market capitalization, due to the increase of the pillar in the group, FPT, up 2.9%.

Followed by materials stocks with an increase of 1.4% in market capitalization, with stocks such as HPG up 1%, NKG up 3.6%, HSG up 4.3%.

Followed by the finance group with an increase of 1.2%; in which, real estate stocks such as VIC increased 1.5%, NVL increased 9.8% …; insurance industry like BVH rose 1%; securities industry with SSI up 2.8%, HCM up 3.1%, VND up 18.2%.

The pillars of the market are banking, with a slight increase of 0.7% in capitalization with TCB up 0.8%, CTG up 2.9%, VPB up 2.2%, MBB up 5.9%.

In the opposite direction, the consumer goods industry decreased by 1.3% in capitalization, oil and gas decreased by 0.9%, community utilities decreased by 0.7%, pharmaceuticals and healthcare decreased by 0.4%, consumer services decreased by 0.3%.

Regarding foreign transactions, last week, they net bought 28 million shares, equivalent to a net buying value of 2,369 billion dong.

World stocks expect Q1 quarterly report season

Wall Street stocks all rallied on April 9, with the S&P 500 and Dow Jones both closing at new all-time highs and closing the third consecutive week of gains, as investors prepare for the news season. Quarterly earnings reports start next week.

Closing last week’s session (April 9), the Dow Jones industrial index rose 297.03 points to 33,800.6 points.

The S&P 500 Index rose 31.63 points to 4,128.8 points and the Nasdaq Composite Technology Index rose 70.88 points to 13,900.19.

With a fairly stable gain in the session of April 9, Wall Street stocks marked the third consecutive week of increase. For the whole week, the S&P index advanced 2.71%, the Dow Jones rose 1.96% and the Nasdaq rose 3.12%.

Investor’s attention is on the business reporting season starting next week, with banks Goldman Sachs, JPMorgan and Wells Fargo opening on Wednesday (April 14 local time).

According to a survey by market research company Refinitiv, analysts expect the first quarter of 2021 profits of S&P 500 companies will increase 25% compared to a year ago. That will be the strongest quarter-on-quarter increase since 2018, as tax cuts under former President Donald Trump have spurred corporate profits to surge.

Most of the quarterly reports are very good. Analysts say this is an optimistic indicator for the remainder of the reporting season, possibly even a sign that the business results are likely to exceed the already very high expectations of the market.

Another positive sign is that estimates are generally revised up in the run-up to the business reporting season, rather than falling as companies offer cautious prospects. This is shown by the fact that in early March, Refinitiv’s survey expected first-quarter earnings growth of the group of businesses with stocks that constitute the S&P 500 index of 22%, significantly below the most recent estimates mentioned above.

For the full year 2021, income growth for the S&P 500 is expected to reach 26.5% and reverse from a 12.6% decline last year.

With most Asian markets falling in the afternoon of April 9, when investors take a break before the upcoming corporate income reporting season. However, the mood of increasing confidence on exchanges has made analysts predict that the global stock market will remain stable and possibly increase even higher.

Chinese equities all went downhill, as investors watched on US-China relations after Washington restricted transactions with many of China’s leading technology firms for security reasons.

Closing the session 9/4, the Hang Seng index in Hong Kong (China) market this session fell as many as 309.27 points to 28,698.8 points, while the Shanghai Composite index of the Shanghai (China) market fell 31.88 points to 3,450.68 points.

Korean stocks ended up streak that lasted for the past week. Specifically, at the end of April 9, the Kospi in Seoul lost 1.38 points to 3,131.88 points. Stocks in Sydney, Mumbai, Singapore and Wellington also went down.

The rare bright spot of Asian markets in this session is Japanese stocks. At the end of April 9, the Nikkei 225 advanced 59.08 points to 29,768.06, but for the whole week, the index lost 0.3%. Stocks Bangkok and Jakarta also went up in this session.

Currently, the market is turning its attention to the business reporting season in the first quarter of 2021. Many investors expect that companies will express optimism about the prospects for recovery and benefit from the economic momentum.

Source: stockbiz.vn – Translated by fintel.vn

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