20160516BSC_Vietnam Daily Review_EN_Technical shakes will occur more frequently

Summary
After rising slightly in the morning session, the VN-Index (+ 0.81%) were lifted by VIC (+ 2.8%), VNM (+ 1.4%) and oil and gas stocks (+ 2.8% GAS, PVD + 5.1%, PVT + 1.8%) to close above the resistance level of 615 points. Trading volume and value were maintained at a low level while the number of stocks declined is more than that of the gainers. STB (+ 3.4%) continued to increase strongly with high transaction volumes.

HNX (+ 0.59%) continued to rally with a high level of volume. In contrast, Upcom (-84%) dropped relatively but its trading value remained at a good level.

The positive point of the day is that foreign investors held long position again on the 3 floors.
 
Recommendation
Market experienced a rally to reach the resistance level at 620 points although trading volume has not improved, thus, a rise in the short term to break out upper boundary of channel is unclear.

Investors should be cautious in trading in the next session and only buy in if both price and volume rise.