20180528_BSC_Vietnam Daily Review_EN_Searching Bottom_TA_VN-Index_Spreading Downtrend

Highlights
• The market dropped sharply at the open and the market traded at 940 before plunging into the afternoon.
• The leaders were VIC (+3.47 points); TLG (+0.08 points); CTD (+0.05 points); SJF (+0.02 points); SGR (+0.02 points).
• The laggards were GAS (-4.6 points); VCB (-3.79 points); CTG (-2.21 points); BID (-2.14 points); HPG (-1.7 points).
• Blue chips fell sharply and even dropped to the floor such as GAS, VJC, MWG. The major stocks fell deeply, pushing the index deep in the red.
• The trading value of VN-Index today reached VND 6,058.1 billion. The trading range for today was 23.87. The market recorded 40 gainers and 265 losers.
• Ending the trading session today, VN-Index dropped 32.15 points, closed at 931.75 points. As a result, the HNX-Index dropped 7.11 points to 107.37 points.
• Foreign investors today were net sellers with 6.64 billion dong on VIC (57 billion dong), HPG (54.8 billion) and VRE (51.4 billion). In addition, they net bought VND10.62 billion on the HNX.


Market outlook 
Following the downward trend from early April to today, the market today continues to be under strong selling pressure as there were 86 stocks at the floor price on the HSX. Only at the beginning of this afternoon session, VnIndex was blown away 31.86 points, equivalent to a 3.31% decrease. A slight increase was recorded in VIC (+ 3.74%) and VHM but that was not enough to resist the drop as many Bluechips stocks fell and even bottom out at the floor price (GAS, VJC, FPT, MWG). BSC believes that in the context when selling pressure is still higher than the demand of bottom catching, the market will witness further correction phases in the upcoming time. Investors should stay out and carefully observe the market before making a bottom-catching decision.

Technical analysis:
VN-Index_Spreading Downtrend
(Please go to page 2 for buy/sell status of stocks and page 4 for Blue chip stocks information)