20161125_BSC_Vietnam Daily Review_EN_Approach 670

Highlight

As expected earlier, momentum oscillators pushed VN-Index back to 670. Largecap stocks such as VNM, VIC, BID, VCB, MSN corrected while there was no rise came from noticeable stock, thus, VN-Index traded in red throughout the trading session. Closing the session, VN-Index fell by only 2.3 points (-0.34%) thanks to strong gain grom ROS, the HNX-Index also fell to 80.99 (-0.24%). By the end of the session, many stocks narrowed earlier gains, typically steel group with HPG and HSG. VNM fell and suffered net selling pressure from foreign investors. VNM net selling value of foreign investors totaled more than 460 billion in the week. Liquidity in the market has improved from the previous session, the total trading value on HOSE and HNX reached nearly 3,300 billion, of which, put through accounts for nearly 700 billion. Notable put through belong to ACB with 17.7 million shares traded equal to 377.8 billion.

Recommendation

VN-Index closed the week with 2 down sessions which took away most gains in the 3 previous sessions. Notably, once again, VN-Index recovered in the session after approaching the support level of 670 previously mentioned. Most likely, the VN-Index will keep this level and rebound towards 690. Investors can accumulate stocks for short-term profit if the VN-Index goes back to 690