20160603_BSC_Vietnam Daily Review_EN_Low chance to overcome last high

Summary
After rising in last 5 trading days, the market slowed down when approaching the high of May rally. Today session, VN-Index was slightly corrected. While BCs trades was not noticeable, small-cap and speculative penny stock started soaring. On HaSTC, construction BCs lifted HNX-Index up slightly. Market liquidity improved slightly and cash-flow was distributed fairly.
UPCOM market also catched foreigners’ attention with sizeable net buying today, following the rise yesterday with some stocks attracted cash flows, including MSR, GEX, RCD, VGC .... This turn did not surprise us as 2 weeks ago, 05.13.2016, BSC has released Upcom premium Report in which we filtered and reviewed the stocks might be shortlisted into Upcom premium and investors should consider them for investment opportunities. Investors may access the report via the link:
https://www.bsc.com.vn/Pages/DownloadReport.aspx?ReportID=998874.

Recommendation
VN-Index moved up and down in a narrow range as we have said in the last report, investors could also take profit on GMD at our recommended price at 28.7. After today, VN-Index is still near the resistance at 625 with support at 617. In the present context, we continue to hold our view that the possibility of surpassing the last high at 628 in the next session is not high and VN-Index will continue to vary in narrow range, investors should continue to keep the weights of stocks at safe levels. Investors seeking short-term profits can try Midcap and Smallcap stocks which haven’t rally to go ahead smart cash flow, in addition, investors should keep observing the banking stocks. However, the proportion of stocks in the portfolio should remain at low levels.