20161124_BSC_Vietnam Daily Review_EN_Simultaneously corrected_TA - DMC

Highlight

Vietnam stock markets were in red right from the beginning of the session in the context of the emerging stock markets simultaneously corrected. Except for MSN, the largecap stocks such as ROS, VNM, CTG, VCB, GAS, VIC simultaneously went down and caused the VN Index to lose 4.98 points to close at 678.18 (-0.73%), the HNX-Index also dropped 0.22 points to close at 81.18 (-0.26%). Market liquidity is maintained with about 159 million shares changing hands equivalent to trading value of about 2783 billion.

Steel and rubber Groups went against the market in today's trading session with HPG, HSG and HNG, PHR, TRC. Pharmaceutical group also gained strongly with IMP, DCL, DHG, DMC. In contrast, the bank group consists of CTG, BID, STB, VCB declined. The new shares listed recently such as PC1, ACV, BHN also suffered strong selling pressure, PC1 even fell to the floor price.

Recommendation

Rubber and steel group recommended in previous reports gained more than general market today. VN-Index failed attempts to reach level 690 due to absence of support from largecap stocks. Momentum oscillators may direct VN-Index back to support at 670. With the price of rubber and iron ore continues to maintain the upward trend, steel and rubber are still recommended investors preferred high risk. In addition, in the context of unclear trend of VN-Index, investors may be interested in pharmaceutical stocks.

Technical Views - DMC - Domesco Medical Import Export JSC