BSC_Weekly report 19.01-23.01.2015_VN-Index has confirmed a new wave of rally_CNG, PXS, NTP Updates

After 2 weeks accumulating, the market has eventually exploded in Friday. The technical Reverse Head and Shoulder pattern has been confirmed today when the VN-Index has successfully conquered the resistance of 580 pts. It is noteworthy that liquidity has clearly improved when rose about 50% compared with the previous ones. The ECB ‘s deployment of QE package will positively impact foreign investors’ cash flow in the near future, especially the FTSE Vietnam Index ETF fund when this fund’s certificates are listed primarily in European markets. Technically, the VN-Index is expected to move towards the resistance of 600 points. The general trend is considered quite positive, but there can be some short corrections in the next week and the previous resistance of 580 pts will become hard support. Banking group will be likely to keep leading the market, and thus cash flows may gradually spread to other groups such as real estate, construction materials and securities company stocks...

Recommendations

In the medium and long term: Continue accumulating shares with good fundamentals. In short term: Increase the stock ratio, the VN-Index has confirmed a new wave of rally.