The stock market continued to move closer to the 1,800-point mark last week when the VN-Index surpassed 1,794 points. However, strong selling pressure in large-cap stocks, especially Vingroup and banking stocks in the last session of the week, caused the index to quickly reverse.
At the end of the week, VN-Index decreased by more than 35 points on Friday trading day, closing at 1,731.19 points, down 0.94% compared to last week.
Commenting on the stock market developments next week, experts from Saigon - Hanoi Securities Joint Stock Company (SHS) said that the short-term trend of VN-Index is subject to strong selling pressure at the price range around 1,800 points, corresponding to the trend line connecting the highest price peaks in 2018, 2021, 2022.
The VN-Index is creating a short-term peak in the price range of 1,780 points - 1,800 points and is under pressure to correct and retest the price range around 1,700 points, corresponding to the highest price range in August-September 2025.
" This is not a reasonable price range to increase or buy. We recommend that investors carefully evaluate buying positions based on the reasonable valuation of each enterprise and expected third quarter business results and short-term risk control.
Currently, we believe that the price range around 1,700 points is not an attractive price range for disbursement for many groups of codes, especially groups of codes that have had a period of sudden strong price increases this year, " said SHS experts.
According to experts, stock investors should not buy in droves.
Also according to SHS, investors maintain a reasonable proportion. Investment targets are stocks with good fundamentals, leading in strategic industries, and outstanding growth of the economy .
Ms. Nguyen Thi My Lien - Head of Analysis Department, Phu Hung Securities Joint Stock Company, said that the large-cap stocks were the main driving force pushing the index to break through the peak of 1,700 points and the increase during the week almost reached a new record of 1,800 points. However, the consensus level of the whole market was not high.
" In my leading role, I think that the pillar stocks have completed their mission, but have not yet attracted a response on the general stock level. Therefore, the cooling trend will probably continue so that the market can return to the initial accumulation zone, that is, around the 1,660 - 1,710 point area to consolidate the uptrend as well as improve the breadth. I expect the downtrend will not be too negative, when the cash flow can circulate in different large-cap stocks to take turns supporting each other, " Ms. Lien commented.
Meanwhile, Viet Capital Securities Joint Stock Company (VCSC) commented that the VN-Index violated the lower limit of the 1,745-1,775 point range, indicating that selling pressure is dominating in the short term. The resistance in the next session is the 1,745 point area and there is a high possibility that the recovery during the day will encounter obstacles here.
If selling activity continues to increase around the resistance, shown by a downward movement with high liquidity at the end of the day, the VN-Index will suffer a prolonged correction period and the next target is the 1,690-1,700 point zone.
According to Mr. Dinh Viet Bach - an expert from Pinetree Securities, the market is likely to continue to "adjust to go up" with the first support level possibly being the 1,700 point area.
In addition to the most positive short-term scenario above, Mr. Bach also noted that if VN-Index breaks through this zone, the index may retreat to the next support level at around 1,670 points.
In the case of Vingroup stocks and some VN30 stocks correcting, the market will lose its main driving force and need time to re-accumulate. Experts from Pinetree predict that cash flow will likely shift to the real estate group. The banking and securities groups will differentiate more strongly when the third quarter financial reports begin to reflect in stock prices.
Experts from Rong Viet Securities believe that the market has just experienced a strong increase thanks to the pull from the Vin and VJC stocks and the rise of real estate stocks. According to experts, in the short term, the VN-Index has temporarily confirmed 1,785 as the peak and in the new week the index may fall to the 1,680-1,700 point range and then recover to 1,730 at the end of October. The new week, the VN-Index will be supported by the pillars MSN, MWG, VNM, HPG, counterweights to the Vin and VJC groups.
The expert recommends that investors take short-term profits from bank, securities, and real estate stocks. Currently, large cash flows are concentrated in these three groups, so if you buy back, you should "wait" for the VN-Index to return to the 1,680-1,700 point range to have a good buying point. Currently, the real estate group is the strongest in the market, investors "wait" to buy this group. Some pillar stocks to pay attention to are MSN and MWG.
Experts from Yuanta Hanoi Securities Company commented that the market has surpassed its peak, but there is a clear differentiation between industry groups and the cash flow has not spread, causing many investors' portfolios to not increase or even suffer slight losses when the general market adjusts.
" According to my recommendation, investors need to focus on a group of industries with the strongest growth expectations in the fourth quarter to achieve good investment performance and we can easily see that the real estate group is the industry leading the cash flow. In addition, the securities group will likely have an industry wave when a series of IPO deals attract a lot of investor attention ," the expert said.
According to him, although the market has successfully surpassed its peak, there are still many doubts as cash flow has not spread among industry groups and is also greatly affected when pillar stocks are sold for profit.
Source: https://vtcnews.vn/vn-index-hut-moc-1-800-diem-tuan-toi-con-co-hoi-but-pha-ar971949.html
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