20161121_BSC_Vietnam Daily Review_EN_Unclear trend_TA - WSB

Highlight

In morning session VN-Index traded mostly in the red when largecap stocks simultaneously corrected such as VIC, VCB, MSN, HPG, BVH, ROS. In afternoon session, Steel including HPG, TLH, HSG, Banks including CTG, BID, STB and VNM surged, helping VN-Index regain green, closing up 1.04 points to 674.29 (+ 0.15%), the HNX-Index also increased by 0.13 to close at 80.75 (+ 0.16%). Market liquidity has not changed much with approximately 137 million shares were traded, equivalent to the trading value of 2383 billion. VNM has traded fairly positive (+ 0.9%) as today SCIC held a roadshow introducing investment opportunities in Vinamilk shares. Today is also the first session of the ACV on UpCom and at the beginning of the session, ACV went ceiling with more than 2 million units overbought surplus. However, the shares of other aviation services such as SGN, NCT, NCS, MAS went down due to profit taking pressure.

Recommendation

VN-Index continued to fluctuate slightly and showed no clear trend after falling from the medium-term rising channel. Cash flow has not improved, thus VN-Index lacks motivation to break out. Investors should continue to maintain the relative low proportion of cash, waiting for the clearer signal of VN-Index.

Technical Views - WSB - Sai Gon Beer Western SJC (UPCOM)