The VN-Index fluctuated around the 1,770 point mark.
Investors should refrain from chasing stocks and instead wait for the VN-Index to confirm breaking above the 1,790-point resistance level before investing to minimize investment risk.
Opening the trading session on the morning of August 6th, the VN-Index experienced a slight correction after a series of recovery sessions. Although the decrease was insignificant, it indicated increased profit-taking pressure as the index approached a key resistance zone.
With insufficient cash flow to absorb short-term supply, the VN-Index is likely to enter a consolidation phase around the 1,750 - 1,770 point range.
The real estate sector saw mixed performance, with VIC (+0.09%), VHM (+2.09%), VRE (-3.59%), NVL (+0.36%), VPI (-2.77%), and KDH (-1.93%). Similarly, the financial services sector saw mixed results, with VIX (-1.07%), VCI (+1.16%), SSI (-0.2%), SHS (-0.63%), and VND (-0.49%).
Meanwhile, the banking sector was in the red, with VPB (-0.98%), TCB (-0.67%), MBB (-0.82%), SHB (-0.42%), VCB (-0.67%), and ACB (-0.67%). Similarly, the basic resources sector saw HPG (-0.45%), MSR (-3.8%), NKG (-0.9%), TAH (-7.17%), and MZG fall to their reference prices.
At the close of this morning's trading session, the VN-Index fell 4.44 points to 1,772.02 points (-0.25%) compared to the previous session. Similarly, the HNX-Index decreased by 292.76 points (-0.28%), equivalent to 0.83 points, and the UPCoM-Index decreased by 126.96 points (-0.15%), equivalent to 0.19 points.
Market liquidity reached VND 7,482.23 billion, with 257,000 shares traded. Across the sector, 84 stocks increased, 200 decreased, and 65 fell to their reference price.
According to experts at Kirin Securities Joint Stock Company, the VN-Index reversed course and experienced a slight decline after testing the resistance level around 1,790 points. Trading volume increased slightly compared to the previous session and exceeded the 20-day average by nearly 3%.
Today's trading range narrowed compared to previous sessions, and the balance of capital flow allocated to rising/falling stocks was quite even, reflecting investor hesitation at this point.
Following the recent strong rally and the failure to surpass the 1,790 point mark, it is highly likely that the VN-Index will experience a short-term correction to a equilibrium zone around 1,720 points before returning to a positive trend.
Therefore, investors are advised to prioritize holding their current portfolios and patiently wait for a support zone before resuming net buying positions.
According to experts at AIS Securities Company, the VN-Index experienced a volatile session with a slight correction, retreating close to the important support zone around the 200-day moving average, indicating that short-term profit-taking pressure is beginning to emerge.
The main support came from the telecommunications, energy, and non-essential consumer goods sectors. Conversely, downward pressure was present in the technology, basic consumer goods, and securities sectors.
Foreign investors maintained their net buying momentum, and overall market liquidity is gradually improving. Short-term fluctuations and consolidation are normal occurrences in an upward market trend.
This upward trend is likely to continue, with August being at least a month of gains. The market target remains the 1,800-1,810 point range (around the 50-day and 20-week moving averages).
