BSC_Daily report 05.01.2015_Faced with strong taking-profit pressure

The investors have performed quite prudently on the first trading day of the year. Both indices fluctuated in narrow ranges, the liquidity reduced and the selling pressure increased. Notably, oil and gas stocks have fell sharply before negative world oil prices’ movements. The WTI oil prices fell 1.8% to $ 51.8 / barrel; while Brent oil fell 1.65% to $ 55.5 / barrel. Current risk: Oil and gas group (GAS, PVD, PVS ...) has been forming a price accumulation for about 02 weeks but this platform was not really strong. If world oil prices continue falling and break 50 USD / barrel, this will be a significant risk for the domestic oil and gas group in particular and the market in general.

Recommendation

In previous reports, we have noted investors on the resistance around 550 points and the unpredictable oil prices movement as well as recommend investors may consider selling out to restructure the portfolio as the market approaches its resistance around 550 pts (VN-Index) and 84 pts (HNX-Index). Currently, the market did not get big change so we maintain our investment view above.