20160308_BSC_Vietnam Daily Review_EN_580 is a challenging target

Summary

The market fell at the end of trading session due to profit taking pressure from oil and gas stocks. Market breadth is negative with 186 gainers/240 losers in both exchanges.

Recommendation

This correction is necessary for the market to reset the short-term cumulative status for more sustainable gains. The signs on the peak distribution don’t appear obvious, therefore, short-term risk is still considered at low. Investors which are holding high proportion of stocks should consider to down the percentage when the VN-Index reaches resistance at 580 points and repurchases at the correction reduced in session.