Stock Market Daily Forecast: Looking for stocks with signs of rebound

In yesterday morning's trading session, the VN-Index opened up 39 points and spent mostly within a range of 5-10 points above 1,705 points, with green continuing to dominate the market. Selling pressure continued in the oil and gas and fertilizer sectors, putting significant pressure on the VN-Index. Conversely, the VN-Index was supported by considerable demand from Vingroup’s stocks (VIC, VHM) and the consensus of state-owned banks’ stocks such as VCB, BID, and CTG. Liquidity increased slightly compared to the previous session this morning, indicating that demand continued to prevail in the market.

Entering the afternoon trading session, the momentum from large-cap stocks that performed well in the morning, such as VIC, VHM, VJC, and VCB, pushed the VN-Index past the 1,710 mark. Liquidity in the afternoon, although still lower than the 20-day average, showed improvement compared to the morning session, indicating a gradual return to active trading.

However, in the final minutes of the session, increased profit-taking pressure caused the VN-Index to narrow its gains and return to the 1,700 mark. Foreign investors continued to heavily net sell today, with a total transaction value of VND 920.14 billion, focusing on selling VIC, FPT, and BSR. At the close of yesterday’s session, the VN-Index closed at 1,702.92, up 28.44 points, or 1.70%.

This morning, the VN-Index dropped to 1,695 points with many stocks in downtrend, such as ACB, HPG, SAB, SSI,…

The VN-Index closed with a red candle around 1,700 points, reflecting significantly increased profit-taking pressure in the latter half of the session. On the daily chart, the MACD technical indicator has formed a bottom, and the Signal line has crossed the MACD line from below, indicating strong buying pressure in the market.

The VN-Index successfully broke through resistance at the MA20 line, equivalent to 1,685 points, so it is highly likely that the market will continue its upward momentum in the coming sessions, with the next resistance level around 1,720 points.

On the hourly chart, the ADX indicator continues to trend upwards, and the DI- indicator continues to trend downwards, indicating that selling pressure has somewhat subsided. Simultaneously, the general index has risen above the Senkou Span B cloud, suggesting that the uptrend is continuing. However, the RSI indicator has peaked and shown signs of reversal, so it is highly likely that the VN-Index may experience volatility in the coming sessions.

The VN-Index continues its upward trend thanks to strong momentum from large-cap stocks. Although the market is rising well, demand has not yet spread widely, mainly concentrating on certain sectors and large-cap stocks. VCBS recommends that investors look for stocks showing signs of rebound after holding steady and those in sectors with expected strong 1Q2006 earnings results to gradually invest during market fluctuations in the coming sessions. Additionally, investors should limit new purchases of stocks that have already risen sharply and are approaching resistance levels/previous peaks to avoid the risk of unexpected corrections. Some notable sectors during this period include banking, retail, and real estate.