20170504_BSC_Vietnam Daily Review_EN_Passed the short term resistance level

Highlights
The development of the market during today session is lower than expectation when the market pass the short resistance level of 720 points in the morning session, maintaining this trading  level until the end of the session. The moving of the market continued affected by positive movement of Banking stock, and also the contribution of the bullish movement of VNM and also almost all the stock in the market. The market cash rotated equally between different market industries and also different capitalization category. Stocks belong to Real-estate, Construction industries rebound positively with many stocks maintaining the ceiling price during all the trading session, along with increasing market liquidity. Other than the main increasing movement of Banking stocks such as VCB ( +2.3%), BID(+1.2%), CTG(+1.7%), STB(+4.3%), EIB(+1.8%), Securities stock also draw the market attention. On the other side,  short term cash flow is divesting from the Sugar Cane, Plastic, Fertilizer; Gas and Oil stocks continued its deep correction movement. In general, Largecap stock is recovering thanks to the general rebound of the market, correction occurred in smallcap stock, the market scale is positive with the bullish stocks dominated the market. At the end of the session, VN-Index closed at 722.02 level, corresponding to 0.34%, market liquidity continue improving. HNX-index closed at 89.52 level, corrected by 0.3 points.    

Recommendation
The bullish momentum of VNM, and other supportive stock of the market, along with the leading positive stocks of Banking industries made the market index passed the sensitive level of 720 quickly during today trading session, along with increasing market liquidity. The short term cash flow is rotated equally between different market industries and different capitalization category, along with strong market force that support the stocks that reached its ceiling price during today trading session and large market liquidity. Above all, the cash flow remained at the market and the market trend also confirmed a recovery trend, the market moved to a new price region with the supportive level around 720 point. Investor should utilize the market movement, increase the proportion of good fundamental stocks according to the business report at more rational price, short term investor can participate in the market according to the rotation of cash flow into different industry.