Securities company perspective: Adjustment risk increases, VN-Index is likely to move towards 1,150 points

SHS Securities assesses that the market will continue to decline after technical recovery efforts and is still in a short-term decline. The main index may decrease further to approach the mid-term support level of 1,150 points.

After a good recovery session at the beginning of the week, the stock market recorded a shaky trading session on April 23. VN-Index continued to increase at the beginning of the session with reduced liquidity, but selling pressure increased in the afternoon, causing the index to fall nearly 13 points. At the end of the session, VN-INDEX decreased 12.82 points (-1.08%) to 1,177.4 points. Foreign investors' trading was less positive with a net sale of 283 billion VND across the market.

Facing less positive developments when demand has not increased significantly, many securities companies believe that market risks are still high, investors need to closely monitor developments while limiting disbursement and prioritizing structure. re-list during recovery periods.


In the opinion of KB Securities Vietnam (KBSV), the weakness of the pillar stocks created pressure on the market in the afternoon session, causing the index to extend its decline towards the end of the session. Although demand then increased again in a few key stocks, helping VN-Index avoid a deep decline, the supply-demand tension is likely to continue, especially the risk of correction. The increase is still more overwhelming. Investors are recommended to limit new purchases, prioritize risk management, sell down positions, and restructure portfolios in early recovery stages.

Similarly, SHS Securities estimates that the market will continue to decline after technical recovery efforts and is still in a short-term decline. The main index may decrease further to approach the mid-term support level of 1,150 points. However, the opportunity for VN-Index to recover soon is still there to form a small w bottom model, if the market's falling momentum stops in the next session.

Short-term investors need to closely monitor market movements in the next session and can disburse funds if the VN-Index signals an increase. In case the index continues to decline, investors should patiently wait for VN-Index. -Index retested support at 1,150 points.

Meanwhile, BIDV Securities (BSC) commented that the market is still in the process of finding the bottom in the area of 1,170 - 1,195. In the coming sessions, VN-Index needs to narrow its trading amplitude further to form a solid cumulative bottom.

Agribank Securities (Agriseco) said that VN-Index recorded a negative status and denied all recovery efforts in the previous session. However, there is still a positive signal as increased demand at the end of the session helped VN-Index maintain the 1,177 point mark, which is the long-term support level corresponding to the 200-day MA.

Agriseco Research predicts that alternating increasing and decreasing trading sessions with large amplitudes will continue to take place, helping VN-Index gradually form a new balance zone. Investors need to lower the proportion and limit disbursement of speculative stocks during the recovery period. Besides, continue to increase the proportion of VN30 and bluechip stocks when the pressure is balanced in the oversold area of stocks.

More positively, Yuanta Securities believes that the market may return to upward momentum in the next session. However, short-term risks are still high, so investors need to limit chasing increases. According to Yuanta's observations, investors are not yet ready to return to the market at rising levels, and if this situation continues, the market may continue to move sideways in the coming trading sessions. In addition, large-cap stocks are showing more positive developments, especially the VN30 index is still trading above the 100-session moving average.

Yuanta recommends that short-term investors should not sell off at downtrends, stop selling and hold a low stock proportion, or consider buying to explore with a low proportion. New buying positions should only be at a low proportion of less than 20% of the portfolio and gradually increase the proportion if the short-term trend of the general market is

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