Positive signals from small-cap real estate stocks.
During the morning trading session on April 22nd, the money flow showed signs of weakening as investors proactively reduced margin ahead of the holiday, causing the VN-Index to fluctuate around the reference level.
Opening the trading session this morning, the VN-Index reversed course and declined slightly, although it remained above key moving averages, indicating that the medium-term uptrend has not been broken, but short-term momentum is weakening.
Technically, the VN-Index continues to test the 1,820 - 1,840 point range, with insufficient buying pressure to conquer the 1,850 point level. Therefore, it is likely to maintain a consolidation phase and experience short-term fluctuations.
On the trading screen, large-cap stocks mostly fluctuated within a narrow range and did not play a leading role.
At the end of the morning trading session on April 22nd, there was a tendency for exploratory capital flows into small-cap real estate stocks, with TDH (+6.97%), DRH (+6.96%), OGC (+6.78%), and SJS (+6.78%) all hitting their upper limit.
The banking sector showed mixed performance with TCB (+1.68%), STB (+0.74%), SHB (-0.33%), HDB (-0.94%), MSB (+1.61%), and ACB (-0.63%). Similarly, the real estate sector saw mixed results with VHM (-2.33%), NVL (+2.54%), VPI (-1.48%), VIC (-0.57%), TCH (+0.3%), and IDC (-0.65%).
The financial services sector was dominated by red, with SSI (-0.53%), HCM (-0.55%), VCI (-0.75%), VCK (-0.29%), TCX (-1.18%), and VPX (-0.53%). Similarly, the retail sector saw declines of MWG (-0.58%), DGW (-0.88%), FRT (-1.92%), and PET (-1.6%).
Chemicals showed positive performance with DGC (+3.56%), DCM (+0.89%), VTZ (+0.5%), BFC (+1.84%), CSV (+0.37%), and DPR (+0.12%).
The VN-Index fell 8.4 points to 1,825 points (-0.46%) compared to the previous session. Similarly, the HNX-Index decreased by 252.82 points (-0.18%), equivalent to 0.45 points, and the UPCoM-Index decreased by 128.56 points (-0.52%), equivalent to 0.62 points.
Market liquidity this morning reached VND 8,547.069 billion, with 286,000 shares traded. Across the sector, 88 stocks rose, including 6 that hit the ceiling price, 210 stocks fell, and 54 stocks dropped to the reference price.
From a technical perspective, experts at Vietcombank Securities Company believe that the VN-Index ending the trading session with a red candlestick indicates that sellers are regaining dominance after the market approached the previous peak of 1,880 - 1,900 points.
On the daily chart, the RSI indicator is trending slightly downward, but the MACD indicator remains upward, and the VN-Index closed at the upper boundary of the Bollinger Band. Therefore, it is likely that there will be periods of consolidation and volatility to test supply and demand in the 1,820 - 1,840 point range in the next session.
On the hourly chart, the indicators are generally moving sideways or slightly upward. Therefore, there is a high probability that sideways consolidation will continue in the next session, and the nearest support level is around 1,815 points, equivalent to the MA20 moving average.
According to experts at ACB Securities Company, the VN-Index continued its efforts to test the 1,850-point mark but failed to break through, closing the session with a slight decrease. Notably, liquidity increased while the price fluctuation range remained almost unchanged, reflecting a climactic tug-of-war situation as both buyers and sellers intensified their activity.
Given that the 1,850-point level remains a significant resistance point and demand is not yet strong enough to create a breakthrough, the VN-Index is likely to continue fluctuating around this area in the short term.
Nevertheless, with the medium-term upward trend still maintained, the index is expected to extend its upward momentum and head towards the higher resistance zone around 1,900 points after completing the current consolidation phase.
