Stock Market Daily Forecast: Consider short-term trading opportunities

In yesterday morning's trading session, the VN-Index opened up 2 points thanks to buying pressure from banking stocks. However, increasing selling pressure on large-cap stocks belonging to the Vingroup stocks caused the index to briefly fall below 1,630 points. In the latter half of the trading session, bargain hunting quickly returned to banking and securities stocks, causing the index to narrow its decline.

Highlights of this trading session included strong gains from several large caps such as VNM (2.58%), LPB (1.75%), GAS (2.58%), MWG (2.32%), along with some individual stocks like KBC (1.36%) and BSR (6.6%). At the end of the morning session, the VN-Index closed at 1,638.11 points, down 7.90 points from the reference point.

In the afternoon session, buying pressure quickly returned to the market right from the opening thanks to strong capital inflows into banking and securities stocks, helping the VN-Index quickly regain its positive momentum. The upward trend continued as capital flowed into sectors such as real estate and construction materials. The market was predominantly green, with 253 gainers and 66 losers, coupled with significantly increased trading volume, helping the VN-Index approach the 1,680 points again.

Foreign investors made slight net sales, totaling VND 5 billion, primarily selling VIC, VCB, and DGC.

At the close of trading, the VN-Index settled at 1,679.18 points, up 33.17 points, or 2.02%. The VN-Index closed higher thanks to positive developments in large caps, along with the support of many other stocks in the market.

On the daily chart, the RSI indicator has bottomed out and reversed upwards, showing strong buying pressure at the bottom. Simultaneously, the CMF indicator continues to remain above 0, and increased liquidity indicates that bottom-buying capital is gradually returning to the market.

With the scenario of the upward trend continuing in the coming sessions, the VN-Index may need to retest the short-term resistance zone around the 20-day moving average (MA20), equivalent to the 1,700 points, to accumulate more momentum before potentially returning to the previous peak around 1,770 points.

On the hourly chart, the VN-Index reversed and broke above the MA20 support level due to increased active buying liquidity at the end of the afternoon session. Simultaneously, the MACD indicator has bottomed out, confirming the recovery trend of the VN-Index.

The VN-Index rebounded after touching the 1,630 support level, with widespread gains driven by consensus among large-cap stocks. Given the current situation, VCBS recommends investors continue holding stocks that are performing well and consider short-term trading opportunities in stocks that have successfully tested support levels and attracted renewed buying interest during market fluctuations. Some notable sectors include banking, public investment, steel, and securities.