Stock Market Daily Forecast: Restructuring portfolios for some stocks

The Vietnam stock market in yesterday's trading session continued to open up 19 points thanks to demand from Vingroup shares. However, the VN-Index’s increase gradually narrowed under the pressure of falling points in the banking and securities stocks. Selling pressure continued to spread to other market sectors and even in the Vingroup stocks. VIC shares could not maintain the ceiling price while VHM and VRE shares adjusted down, causing the VN-Index to fall below the reference level.

Liquidity in yesterday's trading session increased somewhat compared to the same period in the previous session, with the number of red codes continuing to dominate with 268 stocks in a downtrend and 45 stocks in an uptrend, showing strong selling pressure in the market. At the end of the session, the VN-Index recorded at 1,743.12 points, down 10.62 points compared to the reference.

The VN-Index opened the afternoon session under strong selling pressure, causing the general index to fall below the 1,730 mark at times. However, bottom-fishing demand quickly appeared in the banking, securities, and real estate stocks, helping the VN-Index narrow the decline. In the last 15 minutes of the ATC session, the selling pressure increased somewhat again, causing the VN-Index to end the session down 6.5 points compared to the reference.

Foreign investors continued to maintain strong net selling in today's session with a total selling value of VND 2,428.78 billion, focusing on selling VIC, VHM, and VPL.

At the end of yesterday’s session, the VN-Index closed at 1,747.17 points, down 6.57 points, equivalent to 0.37%.

The VN-Index closed the session with a red candle with a long lower shadow, showing that bottom-fishing demand is still present and well maintained in the market.

On the daily chart, the RSI tends to adjust down after touching the overbought zone, reflecting that the active buying force has cooled down compared to the previous period. At the same time, the CMF indicator also points down, signaling the weakening of cash flow and the slowing growth momentum.

On the hourly chart, the RSI and MACD both recorded a slight decrease signal, indicating that the process of testing supply and demand around the old peak of 1,750 – 1,770 points is taking place. Notably, after touching the lower border of Bollinger Band at 1,728 points, the VN-Index quickly rebounded to the 1,750 zone (equivalent to MA20), indicating that the market is likely to continue to struggle and fluctuate around this area in the next sessions.

Yesterday, the VN-Index saw a high-amplitude trading session in which it briefly dropped by more than 23 points before rapidly narrowing the slide. In light of the current state of the market, VCBS advises investors to keep a close eye on market developments to quickly reorganize their portfolios if the stocks they own approach the stop-loss/take-profit zones. At the same time, investors should seize the chance to search for stocks that exhibit indications of holding the support zone to wait for disbursement opportunities when the VN-Index rebalances. Technology stocks, real estate, and public investments are a few prominent market sectors.