Stock Market Weekly Forecast: Looking for short-term opportunities

The VN-Index had a volatile trading week when the opening session of the week was under pressure to fall below the support zone of 1,580 points and quickly recovered to around 1,630 points in the following sessions thanks to bottom-fishing demand returning to some large-cap stocks such as FPT, DGC, VNM, oil and gas, real estate and public investment.

In the following sessions, cash flow continued to be differentiated between market sectors when selling pressure mainly came from large-cap stocks in the securities and banking sectors, causing the VN-Index to continue to fluctuate in the 1,620-1,640 range. Foreign investors were net sellers last week with a total value in the first 4 trading sessions of the week reaching VND 2,090.8 billion, an increase of VND 932.7 billion compared to the same period last week.

In the last trading session of the week, the VN-Index opened down 4 points compared to the reference under selling pressure in the banking and securities stocks. Vingroup (VIC, VHM) and some large-cap stocks such as MSN continued to be under selling pressure, causing the general index to fall below the support level of 1,625 points, before the banking sector recovered in the last 30 minutes of the session and pulled the VN-Index back around the reference level.

In the afternoon session, the VN-Index continued to maintain around the reference level of 1,630 points with cash flow continuing to differentiate between market sectors. Especially in the last 30 minutes of the afternoon session, it recorded positive demand from the Vingroup’s stocks along with some banking and steel stocks, helping the general index quickly return to the 1,635 mark. Foreign investors continued to be a minus point when they sold strongly in the session with a total net value of 672.16 billion, focusing on selling STB, VCI and VIC.

At the end of the session, the VN-Index closed at 1,635.46 points, up 4.02 points, equivalent to 0.25%. At the end of the week, it increased by 36.36 points (2.27%) compared to the previous week.

The VN-Index ended the last trading session of the week with a green candlestick showing the market's recovery momentum. On the daily chart, the MACD and RSI indicators both pointed up, showing that the index is still maintaining its recovery momentum. At the same time, the CMF indicator continued to move up, thereby strengthening the recovery momentum of the VN-Index in the short term. The VN-Index is expected to find a balance around the MA20 line, equivalent to the 1,640 – 1,650 point zone, and the short-term resistance zone will be around 1,700 points.

On the hourly chart, the CMF and MACD indicators are still pointing up, showing that the short-term trend of the market is still upward. However, the RSI indicator is slightly downward, showing that fluctuations may still occur in the coming trading sessions.

The VN-Index recorded a recovery of more than 36 points in the trading session last week. Some large-cap stocks and some individual stock groups with their own stories that have attracted a lot of cash flow in the market in the recent period continue to record positive signals.

Quach An Khanh, market analyst at VCBS recommended that investors continue to hold stocks that have maintained a good growth rate, and can also look for short-term investment opportunities following speculative cash flow in industries/stocks that have attracted this cash flow in recent sessions such as real estate, chemicals and construction.