VN-Index may continue to go sideways with the support at 1,350-1,360 points, before heading towards the next target around 1,370-1,380 points.
Viet Nam's benchmark VN-Index increased by 0.63% to 1,366.77 points on June 24.
The VN-Index remains in a short-term recovery trend, heading toward the next resistance zone in the 1,370–1,380 range.
Many analysts expect the positive signal to return and soon push VN-Index above the 2025 peak - 1,343 points, towards 1,398 points.
Many analysts believe that the Vietnam stock market may continue to go sideways amid tariff talks.
In the short term, if VN-Index fails to maintain 1,300 points, it will be is under pressure to correct and retest 1,270 points.
The positive thing is that the cash flow is still moving in the market, so many analysts said that the VN-Index would balance and go sideways this week.
If the VN-Index keeps rising, it can only be a "green shell, red heart" status with the bank stocks serving as the shell.
The first trading session of this week recorded the highest influx of capital into the Vietnam stock market in the past five months.
VN-Index is in a sideways up accumulation trend. Trading with thin profit margins continues to be recommended until the new trend is confirmed.
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There is currently no negative signal on the VN-Index and the upward momentum will continue this week.
Long-term profit growth forecasts and a P/E ratio between 13.5x and 15x suggest a feasible range of 1,236-1,420 for the VN-Index in 2024.
The Vietnam stock market continued its downward trend on Monday. The market showed that red took control of most groups.
With momentum indicators such as the CCI and RSI entering the overbought region, the index may face short-term volatility.
The VN-Index closed on May 17 at 1,273.11 points, up 28.41 points (2.28%), approaching the previous high of 1,280-1,290 points.
The VN-Index surged and successfully surpassed the MA20 line (around the 1,250-point area), paving the way to advance to the near resistance zone at 1,280-1,290 points.
This is expected to be a year of significant volatility, with a strong recovery possibly following deep correction.
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The VN-Index rose by 1.3% to 1117.7 points, reaching its highest level in almost two weeks. The HNX-Index also increased by 0.5% to 229.5.
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