VnEconomy introduces investment judgments and recommendations of some securities companies on market movements on September 14, 2022.
At the end of the session on September 13, the VN-Index dropped 1.22 points, or 0.10%, to 1,248.40 points. Meanwhile, HNX-Index dropped 1.49 points, or 0.53%, to 281.59 points.
The market will face selling pressure to take profit when the supply is low in price
(Bao Viet Securities Joint Stock Company – BVSC)
“The market will face selling pressure to take profit when the supply is low in price. The strong gaining sessions continue to be an opportunity for investors to sell and take profits from existing positions in the portfolio. Risk-averse investors can continue to hold observation positions this week. The activities of buying and accumulating stocks are only considered if there are strong swings and corrections in the market. Focus on the following stock groups:
+ Industry groups with better price power than the general market: media, general retail, chemicals, household goods, food production, fixed telecommunications.
+ Actively accumulated industry groups: beverage, personal use, pharmaceutical retail, electricity, insurance”.
VN-Index is still struggling with low liquidity and unclear trend
(Bank of Investment and Development Securities Joint Stock Company – BSC)
“The market struggled today in a narrow range, ending the session down more than 1 point compared to yesterday. Market breadth leaned to the negative side with 7/19 industries increasing slightly. Regarding foreign trade, today This is a net selling on the HSX and a net buying on the HNX.VN-Index is still struggling in the area of 1,250-1,260 with low liquidity and unclear trend.Investors should trade cautiously in these sessions. next”.
The market needs motivation to pull the VN-Index above the resistance area around 1,260 points
(Saigon – Hanoi Securities Joint Stock Company – SHS)
“VN-Index ended the session with a slight decrease at 1,248.40 points with improved volume compared to the previous session. VN-Index is accumulating after a strong decline with the nearest support area around 1,240 points and resistance at 1,260 points. The positive point is that the demand still improved and increased for many codes of construction, seafood, oil and gas and agriculture and food groups, with the expectation of improving demand in the last months of the year.
In the short term, the market needs motivation, large demand with good growth expectations to pull the VN-Index over the resistance area around 1,260 points, it can improve the short-term trend to be positive again.
From a long-term perspective, the market is still accumulating on the basis of valuations at a low level compared to the average of the last 5 years. Investors maintain a reasonable proportion, waiting for more new information on the business situation of enterprises when the third quarter of 2022 is nearing the end, macro information, GDP growth… as well as the trend of If the general market improves, we should consider increasing the investment proportion for stocks with good growth potential.”
VN-Index still has a chance to continue recovering in the coming sessions
(Dragon Viet Securities Joint Stock Company – VDSC)
“The supply showed signs of cooling down in the second correction session and made the trading situation become more stable.
However, the minus point of the market in this period is still the lack of quality demand to help the index break through. Therefore, VN-Index still has a chance to continue recovering in the coming sessions, with the first target area at 1,267-1,270 points. Investors should still maintain a reasonable proportion of strong stocks in their portfolio and can continue to wait for higher price ranges to take profits in weak groups.”
Expecting that VN-Index can recover soon
(KB Securities Vietnam Joint Stock Company – KBSV)
“VN-Index dropped and struggled in the session before recovering partially at the end of the session. Bottom-fishing demand increased around the support zone near 124x, helped the index avoid a deep drop.
Liquidity dropped in the last two declining sessions, showing that the supply at high prices is not too great and we expect VN-Index can recover soon and head to the resistance area around 126x before facing clear correcting pressure. sharper. Investors are recommended to sell short the weight of short-term positions when the index approaches the mentioned resistance area and controls the weight at a safe level.
Short-term risks of the market are still high
(Yuanta Securities Vietnam – YSVN)
“We think the market may continue to move sideways and the VN-Index fluctuates in the range of 1,240 – 1,250 points in the next trading session. At the same time, the market’s short-term risk is still at a high level, so short-term investors should limit their new purchases during this period, but the market is still in a short-term technical recovery phase. In addition, the short-term sentiment indicator increased slightly, but it is still in the pessimistic zone, showing that short-term investors are not completely optimistic yet.
The short-term trend of the general market is still down. Therefore, we recommend that short-term investors can continue to hold a low proportion of stocks at 30-35% of the portfolio and should not buy new at this time.”
Investor sentiment and cash flow are now cautious
(Tan Viet Securities Joint Stock Company – TVSI)
“Indexes were under correcting pressure today with a slight drop of the index and most stocks closing down. Food & Food stocks gained prominently, Banking stocks weighed in. while Securities and many other industry groups declined.
VN-Index ended the session at 1,248.4 points (-1.22 points) and VN30 closed at 1,272.48 points (-3.12 points). The liquidity was almost equal to that of the previous session and the matching liquidity on HOSE was only around 10,000 billion dong. The spread of the market was negative with the number of advancers accounting for only 34%; The number of stocks moving sideways accounted for 16% and 50% of stocks declined. Foreign investors net sold again with a scale of nearly 280 billion dong on HOSE, focusing on stocks: SSI; FUEVFVND; VCI; DXG; VND …On the other hand, they were active net buyers in the following stocks: DGC; PVD; PVS; HPG; CTG…
The drop of the market today was not surprising as signs of weakening recovery had been shown since the end of the previous session. According to our observation, selling pressure is not too strong because most stocks have a slight decrease and low liquidity. Investor sentiment and cash flow are now cautiously waiting because this week, information related to CPI and US manufacturing index will be released. Along with that is the futures contract maturity session and the portfolio restructuring session of ETF index funds. On September 22 next week, the FOMC meeting will take place and the Fed will announce the interest rate decision. Therefore, we think that the movements in the coming sessions will still be quite quiet and fluctuate in a narrow range.”
Cash flow still finds opportunities in stock groups with stories
(MB Securities Joint Stock Company – MBS)
“Investors are restricting transactions or watching from the sidelines, making HOSE order-matching liquidity only around the threshold of VND 10,000 billion for the second consecutive session, which is a remarkable point, this is the week with the lowest level of liquidity. since mid-July last week. This week, the market has just had a derivative maturity session and a portfolio restructuring period of ETFs.
Liquidity is limited, but cash flow still finds opportunities in stock groups with stories such as food groups, foodstuffs, etc., after news of the pork price fever in China or India’s order to restrict rice exports. However, these groups of stocks have small and medium capitalization, so they have little impact on the general index or are not representative of the whole market, the market breadth today was also in favor of the sellers.
We continue to believe that investors should limit trading or keep stocks with a low proportion in the portfolio. The market is discounting risks mainly from the domestic market rather than from outside influences after world stocks maintained their recovery momentum for the 4th consecutive session.”
The possibility that VN-Index will find a balance point around 1,220 – 1,200
(SSI Securities Joint Stock Company – SSI)
“In the coming sessions, if VN-Index continues to correct again from 1,250 points, it is likely that the index will find an equilibrium around 1,220 – 1,200 points, however, if it tries to keep the observation mark of 1,250, there will be The index might move sideways and accumulate before finding a chance to conquer the 20-day moving average (around 1,258 – 1,260 points)”.
The market may continue to be exploratory
(Viet Capital Securities Joint Stock Company – VCSC)
“Short-term technical signals of all indexes remain at negative level, while medium-term technical signals of all indexes, except HNX-Index are at Neutral level. The liquidity dropped sharply with mixed movements, showing the reluctance of the market to determine the next trend.
It is forecasted that in tomorrow’s session, the market may continue to explore. Only when the liquidity of the two exchanges increases along with the movement of the indexes, a clearer bullish or bearish scenario is formed. With the current structure, the probability of VN-Index falling is still higher than the probability of gaining. Accordingly, the HOSE might drop from resistance at 1250 points to test MA50’s support at 1228 points. If this support breaks with sufficient liquidity, the market will signal a return to the downtrend. On the contrary, if the buying force is strong enough to help VN-Index surpass the MA10 resistance at 1260 points, the index might test the 1300 point again.”
Market commentary of securities companies quoted by VnEconomy is only valid as a source of reference information. Securities companies may have conflicts of interest for investors when making statements.