Stock Market Daily Forecast: Prioritizing stocks in accumulation at deep discounts

In yesterday morning's trading session, the VN-Index opened under increased profit-taking pressure from large-cap stocks, causing the index to quickly return to 1,640 points. The VN-Index continued to fluctuate between 1,635 and 1,645 points in the following period and traded below the reference level throughout the morning session. Large-cap stocks such as VHM and banking stocks such as VCB and TCB exerted significant pressure on the VN-Index. Conversely, stocks like GEE, VTP, and BCM managed to keep the VN-Index above 1,640 points.

The public investment and construction (CII, VCG) were the sectors attracting the most capital, while other sectors generally did not see any significant surges. Trading volume decreased slightly compared to the same time yesterday morning, and the number of gainers and losers continued to narrow, with 95 and 199 stocks rising and falling, respectively. At the end of the morning session, the VN-Index closed at 1642.73 points, down 15.41 points from the reference point.

Entering the afternoon trading session, the market continued to be in the red. Despite attempts at recovery thanks to bargain hunting in some bank stocks, selling pressure remained overwhelmingly dominant. The decline spread to many other sectors, causing the VN-Index to fall below 1,635 at one point. However, in the last 15 minutes of trading and during the ATC session, buying pressure on some large-cap stocks such as VIC and GEE, along with strong gains in the fertilizer sector (DCM, DPM), helped the index narrow its losses.

Foreign investors continued to heavily net sell during today's trading session, with a total net selling value of VND 745.63 billion, focusing on selling FPT, VCB, and VHM.

At the close of yesterday's trading session, the VN-Index closed at 1,644.63 points, down 13.56 points, or 0.82%.

The VN-Index closed the trading session with a red candle, indicating that sellers are regaining dominance after the market had recorded two recovery sessions from the short-term bottom of 1,600 points.

On the daily chart, the RSI indicator is slightly downward, but the MACD indicator is still upward, and the index closed near but not below the 200-day moving average (equivalent to 1,635 points), so it is likely that there will be periods of consolidation and fluctuations to test supply and demand in the 1,630-1,650 point range in the next session.

On the hourly chart, the indicators are generally moving sideways or slightly upward. Therefore, there is a high probability that periods of consolidation and fluctuations will continue in the next session, and the nearest support level is around 1,627 points (equivalent to the 20-day moving average of the Bollinger band).

In yesterday's trading session, the VN-Index fell 14 points, with slightly lower liquidity compared to the previous session. This development indicates that the market is in a phase of testing supply and demand in the 1,630-1,640 point range and needs further signals to confirm the next trend.

Given the current market context, VCBS recommends that investors take advantage of corrections or fluctuations during the session to make exploratory investments while prioritizing stocks that have formed accumulation bases at deep discount levels or those that have just broken out of their base prices, such as electricity, retail sales, securities, and banking.