Stock Market Daily Forecast: VN-Index still has potential to increase

In yesterday’s trading session, the VN-Index opened slightly lower, mainly due to pressure from the declines of some stocks such as VHM, CTG, LPB, and BCM. However, the upward momentum was quickly regained thanks to increased demand in the banking and securities sectors, helping the VN-Index regain its positive momentum.

By mid-session, the upward trend continued to widen as oil and gas and consumer stocks also followed the VN-Index's upward trend. Highlights of the morning session included the strong gains of some Gelex stocks, such as GEX and VIX, which hit their upper limit, as well as the positive performance of oil and gas stocks such as BSR, PVS, and PVD. The green trend continued until the end of the trading session, with slightly increased liquidity compared to the same period of 20 sessions, indicating a clear dominance of buying pressure in the market. At the end of the morning session, the VN-Index closed at 1,896.71 points, up 19.38 points from the reference point.

Entering the afternoon session, the VN-Index maintained a range of /- 5 points around 1,900. The main contributors to the VN-Index's rise this afternoon were the gains in Vingroup shares and the rise in some large-cap stocks such as GAS, VCB, and BID.

Conversely, profit-taking pressure increased in stocks that had experienced rapid gains in previous sessions, such as MBB, ACB, and CTG. The green trend continued to spread with 203 gainers and 131 losers, showing that active buying demand remained clearly dominant.

Foreign investors reversed their position to net selling in yesterday's trading session, with a total net selling value of VND 488.52 billion, focusing on selling GMD, SHB, and MSN.

At the close of yesterday's session, the VN-Index closed at 1,902.93 points, up 25.60 points, or 1.36%, thanks to strong buying pressure in large-cap stocks.

On the daily chart, technical indicators such as MACD, RSI, and CMF continue to trend upwards and do not show any weakening of the current uptrend. The VN-Index has conquered a new peak. Therefore, it is likely to experience some fluctuations to test supply and demand at the high point.

On the hourly chart, the VN-Index closely follows the upper boundary of the Bollinger Bands and moves in a small range of consolidation. The RSI indicator is almost flat at the high point, while the MACD indicator has formed a bottom and is trending upwards, indicating that the VN-Index still has the potential to increase. However, it is also necessary to note the possibility of intraday fluctuations to retest the nearest support level around 1,875 points.

The VN-Index continued to reach new highs in yesterday's trading session, surpassing 1,900 points. While the main contributors to the VN-Index's increase were concentrated in a few blue-chip stocks like VIC, GAS, and VCB, cash flows have also begun to spread to many other stocks in the market.

Therefore, VCBS recommends that investors consider taking advantage of intraday fluctuations to seek opportunities to increase their stock holdings, while prioritizing stocks that are strongly attracting cash flows, such as securities, banking, and oil and gas.