20160811_BSC_Vietnam Daily Review_EN_Continued rise

Highlight
Foreign investors are back to net buyer today. The demand was maintained throughout from the open and become stronger in the afternoon, came from the surge of some major Bluechip such as VNM (+5), HPG (+0.7), HSG (+1), stocks of real estate, construction continues to attract a large amount of cash flow today, together with strong gains, typically KBC, CII, HBC VCG, ITA. Banking, IT stocks also posted good rise.
Vn-Index has been back to the price zone 650-660 after deep correction due to negative impact of market information in early August, the current technical indicators confirm the trend of rising again and market has been moving in rising channel again.

Recommendation
The market continued to have a breakout session, gained more than 10 points, repeatedly went through the resistance at 650, 655 to close at 660.2 (+ 1.8%), trading volume continued to surge (+ 28%) above its 10-day average. (1) The bull market is sustainable when it’s supported by the increase of many bluechip such as VNM, VCB, CTG, HPG, HSG, MWG. (2) The VN-Index returned to the rising channel established from the beginning of the year. (3) Foreign investors returned as net buyers on both floors. (4) The technical indicators simultaneously showed positive signals. From aforementioned factors, the VN-Index is expected to continue to rebound to test the resistance at 662-667. Investors may hold the stocks in the portfolio to benefit from market rebound.