Stock Market Daily Forecast: Prioritizing deeply-discounted stocks

In yesterday morning's trading session, the VN-Index opened slightly higher before reversing to a decline under increased profit-taking pressure on some large-cap stocks such as HPG, MWG, FPT, and the Vingroup’s stocks. Conversely, some large-cap stocks such as DGC, BSR, TCB, and MSB saw good buying demand, helping the general index to narrow its decline somewhat in the middle of the trading session.

However, in the latter half of the morning session, selling pressure intensified in the large-cap group, especially VIC, causing the VN-Index to lose its 1,825-point mark, with 204 stocks declining. At the end of the morning trading session, it closed at 1,824.87 points, down 9.50 points from the reference point.

Entering the afternoon trading session, the VN-Index saw strong buying pressure from Vingroup’s stocks, helping the index reverse its downward trend and rise again. Highlights of this afternoon's session came from real estate stocks (NVL 5.93%), VHM (3.09%), and VIC hitting the ceiling price, helping the VN-Index continue to extend its gains and consolidate around 1,860 points.

Foreign investors continued to net sell in today's trading session with a total transaction value of VND 98.56 billion, focusing on selling FPT, VHM, and MSB.

At the close of the session, the VN-Index closed at 1857.30 points, up 23.82 points, equivalent to 1.30%.

This morning, the VN-Index rose by 22 points to 1,880 points. Some stocks in uptrend include PVT, PLX, PVS, PVD, BSR…

The VN-Index closed with a green candle and closed around 1,860 points. On the daily chart, the RSI indicator is trending upwards but is nearing the overbought zone, while the MACD indicator is still trending upwards, indicating that the VN-Index maintains its upward trend in the short term with resistance at the 1,880-1,900 point range, accompanied by the possibility of increased volatility during the session.

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 maintains its upward momentum above the green cloud, and the Senkou Span A line shows that the uptrend is continuing. However, the RSI indicator has peaked and is showing signs of reversal, so there is a high probability that the VN-Index may experience volatility in the coming sessions.

The VN-Index reversed direction with a large intraday fluctuation range, mainly driven by Vingroup’s stocks. However, liquidity remained largely unchanged compared to the previous session, and the fact that declining stocks outnumbered rising stocks indicates strong market divergence.

Given the current market conditions, VCBS recommends that investors take advantage of intraday corrections or fluctuations to make exploratory investments while prioritizing stock groups that have formed consolidation bases at deep discount levels or those that have recently broken out of their base prices, such as retail, construction, and banking.