20160602_BSC_Vietnam Daily Review_EN_Opportunity to test last high

Summary
Demand increased today, bringing VN-Index closer to the strong resistance at 625 points. Market fluctuated around the closing price of the previous session and only showed sign of accerelation at the start of the afternoon session though not successful. 
Notably, SmallCap stocks exhibited better growth than the remaining shares with trading volume rose sharply, including ATA, KSA, HQC. Compared with the 2 main floors, UPCoM surged today, up 1.02 points corresponding to up 1.8% from the previous session.
Foreign investors stayed net buyer for th 9th consecutive sessions, the value of transactions reached 104.32 billion VND on HoSE and 18.36 billion VND on HNX.

Recommendation
Today, investors can already take profit on MAC at our recommended target price at 11.8, continue to hold CTI and PVT, keep observing banking stocks when liquidity is declining to low level.  After today gain, resistance and support of VN-Index are 625 and 616 respectively. In the context that the money is withdrawn from BCs, we assess the opportunity for VN-Index to overcome the last high at 628 is not high and it will continue to vary in a narrow range. Investors should keep weights of stocks at safe levels, avoid buying high, may seek profit from Midcap and Penny in short-term.