BSC_Daily report 10.02.2015_Foreign money has still led the market_FPT Update

Banking stocks were still the main driver for the market today. When the banking stocks’ prices (typically VCB, BID and CTG) are about reaching their old peaks (resistances), the short term selling pressure will be likely to appear and then affects the general market. However, we believe that the correction (if appears) will not be so strong, because many stocks are still around their moderate price area and foreign investors are net buying steadily in the recent days. Generally, we believe the market can get correction when reach the resistance around 575-580 pts, and then ranged for accumulating around 570-575 pts, the liquidity will remain low.

Recommendation

• Short-term: Investors should consider selling at resistance.

• Mid and long-term: Focus on the good fundamental stocks, continue accumulating in declined days.