20161222_BSC_Vietnam Daily Review_EN_Unclear direction_TA – VCB

Highlight

VN-Index could only keep the green color in early trading hours in morning session when the steel group including HPG, HSG and SAB, VNM, MSN actively traded before losing momentum and VNM and HSG fell in session. Steel stocks differentiated strongly when only HPG, HSG rose with surged trading volume while TLH, VIS, VGS declined. In the afternoon session, GAS, MSN maintained the green color (ex-dividend day of GAS and cash dividend Information of MSN) helped VN-Index falling less sharply. Ending the session, VN-Index fell by 2.79 points to 664.15 (-0.42%), the HNX-Index also fell by 0.46 points to 79.79 (-0.57%). Market liquidity held steady at 86 million shares changed hands equivalent to trading value of 1769 billion. 20161222_BSC_Vietnam Daily Review_EN_Unclear direction_TA - VCB

Recommendation

Despite the decline, the liquidity of market is still stable and selling pressure in many stocks declined at the closing. VN-Index is expected to recover in the last trading session of the week. Currently, the VN-Index is moving between MA15 and MA45 2. In the case that VN-Index lost 662 threshold equivalent to MA15, investors are advised to reduce the proportion of portfolio to avoid downside risk in the short term. If VN-Index continued to be bullish, investors may pay attention to the good fundamental stocks such as steel, the stock has bottomed signs such as finance, banking, oil and gas.

Technical Views - VCB - Joint Stock Commercial Bank for Foreign Trade of Vietnam (HSX)