20161216_BSC_Vietnam Daily Review_EN_ The market rose above resistance at 675

 Highlight
In the weekend session, market reacted positively  to the constructing pressure of 2 ETFs. The market recovered strongly thanks to not only SAB and large-cap stocks, but also almost of stocks, which increased sharply today. Specifically SAB and VNM contributed only 5 points for the general market, more than 4 points was contributed by many green stocks in VN30. The significant rise of 1.38% and increase in liquidity took market index overcoming the resistance area 670-675 points, exceeding the medium-term moving average of MA (45) and continued recovering from the bottom of 645 points, approached the resistance level of 680 points.

Market commentaries
The initiative to prepare the sentiment for the restructuring of the ETFs and abundant cash flow made the market gain positively on a large scale. Supporting from large-cap stocks also made almost small cap stocks to increase. Cash flow are returning to stocks with weak demand during a period whith have the opportunity to recover strongly in the coming sessions. Technical indicators maintain positively and confirm the market is in a short-term uptrend and medium-term recovery. The market continues to oscillate in a safe area. Recovering pressure from the bottom and lower cumulative basis from large cap stocks can stimulate market to increase in the coming sessions, after reacting positively to the impacts of information and selling pressure from foreign investors in this special trading week.