Stock Market Weekly Forecast: What sectors on radar?

VN-Index had a volatile trading week when the opening session of the last week was under strong downward pressure and quickly recovered to around 1,660 in the last sessions of the week thanks to good structural force from a number of largecap stocks in the Vingroup group, consumer, real estate and public investment sectors.

Cash flow last week continued to be differentiated between industry groups when selling pressure mainly came from stocks that had increased sharply such as banks and securities while on the contrary, cash flow was more active in the group of stocks with medium and small capitalization.

Foreign investors last week were net sellers with a total value in the first 4 trading sessions of the week reaching VND 5,551.3 billion, down 14.6% compared to the same period last week.

In the last trading session of the week, the index opened in green thanks to demand from some large-cap stocks in the banking sector (CTG, LPB, VCB) and consumer (MSN). The general index fluctuated within a narrow range around the reference level with cash flow differentiated between industry groups. Entering the afternoon session, the general index hovered below the reference for most of the session, although there was a time when the index regained green thanks to increased demand for Vingroup stocks. In the last 15 minutes of the session, strong selling pressure increased in the banking and securities groups - especially from foreign investors - causing the general index to slightly decrease below the reference at the end of the session.

At the end of the last week, VN-Index closed at 1,660.70 points, down 5.39 points, equivalent to 0.32%. At the end of the week, VN Index increased by 2.08 points (0.13%) compared to the previous week. VN Index closed the session with a red candle, slightly decreasing by 5.39 points after a shake-up near the 1,660 mark.

On the daily chart, VN-index continued to fluctuate within a narrow range and closed at the MA20 line, showing that market momentum remained stable. Liquidity continued to decline and the two /-DI lines intersected around the 25 mark, so VN-Index is likely to continue to have a few more sessions of sideways accumulation, increasing and decreasing intertwined with an amplitude of about 10-20 points to establish a support price base before a new trend appears.

On the hourly chart, the MACD indicator moved sideways, showing that the recovery momentum has somewhat slowed down. At the same time, the RSI and CMF indicators both pointed down near the end of the session, showing that market momentum has weakened when active demand has not returned strongly, so there is a high probability that the market will still have fluctuations during the session.

Last week, the correction pressure mainly came from large-cap stocks in the banking and securities sectors after a period of strong growth before and gradually shifted to sectors that have not increased strongly. Therefore, VCBS recommends that investors continue to closely follow market developments and choose stocks that maintain the support zone to disburse in part. Notable sectors in the coming time include real estate and public investment.