20160816_BSC_Vietnam Daily Review_EN_Moving sideways

Highlight

The market maintained above 660 until the end of the afternoon session, VN-Index could not keep this support. The key Bluechip VIC, VCB, GAS sufered strong selling pressure in the afternoon session largely put the downward pressure on the index. MWG and some stocks in VN30 such as KDC, NT2, CSM, DRC enjoyed positive movement kept index from falling too much. Market liquidity remained stable, and increased compared to the previous session, the market moved in safe area and maintained well demand. Cash flow rotated among sectors, among stocks classified by market cap, moved from the Largecap stocks to Midcap and Smallcap stocks.

Recommendation

Market fluctuated during the trading session and closed down slightly by 0.21%, liquidity increased slightly compared to the previous trading day. The resistance at around 655 are becoming more reliable when the session today is the 2nd time that VN-Index dropped to around 655 and rebounded. The market divergence continued to be strong as the transportation, construction materials, steel and pharmaceuticals industries continued to move better than the general market. The market would continue to range from 655-665 in the coming sessions. Investors are recommended to continue to hold good fundamental stocks or shift to stocks that attracted cash flow.