Stock Market Daily Forecast: Cash flow could continue to be diversified

In yesterday's trading session, the VN-Index opened up 10 points compared to the reference point thanks to strong demand from some bank stocks and some large-cap stocks such as GEE and VHM. However, the upward momentum slowed down due to increased supply in VIC, VJC, DGC, and VPL stocks, causing the VN-Index to generally fluctuate around the reference point for the rest of the morning session.

Liquidity did not show a significant improvement, reflecting the hesitant sentiment of investors. At the end of the trading session, the VN-Index recorded 1,770.06 points, down 2.11 points compared to the reference point.

Entering the afternoon trading session, the VN-Index continued to fluctuate around the reference point for most of the time. In the last 30 minutes of trading, cash flow returned to some bank stocks and some Vingroup stocks such as VHM and VRE, helping the VN-Index quickly regain the positive momentum it had shown in the morning session.

Foreign investors continued to net buy over VND 1,081.26 billion in this morning's trading session, focusing on buying STB, MBB, and SSI.

At the close of yesterday’s trading session, the VN-Index closed at 1,782.82 points, up 10.67 points, equivalent to 0.60%.

The VN-Index closed with a Dragonfly Doji candlestick pattern and slightly reduced trading volume, indicating that the upward momentum, although slowing down, is still being maintained despite short-term profit-taking pressure.

On the daily chart, the MACD and RSI indicators continue to move upwards, reflecting market momentum; however, intraday volatility is unavoidable, especially after a period of rapid growth. Simultaneously, the CMF indicator at 0.15 and moving sideways suggests a slowdown in active buying activity.

On the hourly chart, the MACD histogram starting to trend downwards, along with the RSI being in the overbought zone, suggests that intraday volatility may increase in the coming trading sessions, especially as the VN-Index is still testing supply and demand at the current previous peak. The MA20 line, i.e., the 1,740-1,750 point range, remains the nearest short-term support zone for the VN-Index.

The VN-Index closing above 1,780 points shows that the market's upward momentum continues to be strengthened, although the upward trend has slowed down somewhat. On the other hand, cash flow could continue to be diversified, focusing only on large-cap stocks and a few other stocks with unique stories.

Therefore, VCBS recommends that investors maintain holdings of stocks that are in a stable upward trend and have not yet seen strong selling pressure. At the same time, they should select stocks that have successfully broken through resistance or tested convincing support with the support of active buying liquidity to disburse funds for short-term trading.