Stock Market Daily Forecast: Hold stocks recovering from support levels

In yesterday's trading session, the VN-Index opened up 10 points thanks to strong demand from banking and securities stocks. Although the gains were somewhat limited by the declines of Vingroup stocks and GAS, the VN-Index quickly widened its gains towards the end of the session thanks to the green in the banking sector.

The highlight of yesterday morning's session was the continued strong upward trend of several large banking stocks such as BID, STB, and CTG, along with some securities stocks such as SSI, VND, HCM, and VIX. The green continued until the end of the trading session, with liquidity increasing by more than 15% compared to the previous session, showing that demand clearly dominated the market. At the end of the morning trading session, the VN-Index closed at 1893.09 points, up 7.65 points from the reference point.

Entering the afternoon trading session, the VN-Index faced increased profit-taking pressure on large-cap stocks such as BID, VCB, and VHM. However, bargain-hunting demand quickly emerged, helping the VN-Index reverse and regain the 1,895 mark.

In the last 30 minutes of the session and the ATC session, the VN-Index faced strong selling pressure on large-cap stocks such as Vingroup, GAS, BID, SHB, and MBB, causing the VN-Index to quickly reverse and fall below the reference mark.

Foreign investors continued to heavily net sell in this morning's trading session with a total transaction value of VND 1,455.22 billion, focusing on selling VCB, VHM, and VIC.

At the close of yesterday’s trading session, the VN-Index closed at 1,882.73 points, down 2.71 points, equivalent to 0.14%.

The VN-Index closed yesterday's trading session with a slightly bearish high-wave candle, reflecting the consolidation around 1,885 points. On the daily chart, the MACD indicator has peaked and crossed the signal line from above, indicating a slowdown in the market's upward momentum.

Liquidity continues to decline, and the ADX line is moving sideways, suggesting that the VN-Index will likely continue its consolidation phase, with alternating increases and decreases and gradually narrowing volatility to establish a support level before a new trend emerges.

On the hourly chart, the VN-Index continues to move around the MA20 line. Technical indicators such as RSI, MACD, and CMF are generally moving sideways. However, the upward momentum remains quite limited, as evidenced by the lack of improvement in liquidity, so more time may be needed to create a more stable consolidation base before a new trend emerges.

The VN-Index continued to hover around 1,885 in yesterday's trading session, equivalent to the MA20 level, indicating this is a crucial support zone for the market. During yesterday's session, downward pressure mainly occurred in the latter half of the afternoon and came from several large-cap stocks that had recorded strong gains in previous sessions.

Therefore, VCBS recommends that investors maintain their holdings in stocks currently available in their portfolios and recovering from support levels while also selecting stocks that hold their support levels for partial investment. Notable sectors to watch in the coming period include banking and oil and gas.