20190701_BSC_Vietnam Daily Review_EN_Positive rebound_TA_TCB_Double bottom model

Highlights
• VN-Index increased in the morning session. In the afternoon session, the gaining momentum was widened
• Stocks contributed to VN-Index upward momentum including GAS (+3.68 points); VHM (+1.64 points); CTG (+1.56 points); VIC (+1.48 points); PLX (+1.38 points).
• Stocks made the market decline including HPG (-0.39 points); HDB (-0.16 points); VJC (-0.15 points); DHG (-0.14 points); POW (-0.13 points).
• The matching value of VN-Index today reached VND 2,807.3 billion. Today's trading range is 7.95 points. The market has 216 gainers and 100 losers.
• At the end of today's trading session, VN-Index increased 15.67 point to close at 965.61 points. At the same time, HNX-Index increased 0.58 points to 104.09 points.
• HOSE has not published data on foreign investors trading for this session, all information on foreign traders on HOSE are from last Friday session (28/06/2019). In addition, they sold a net of VND 1.69 billion on HNX

Market outlook 
In the morning, the VN-Index increased due to the buying force focused on bluechips such as GAS, CTG, VNM, VHM, VIC. In the afternoon session, the gaining momentum was widened due to strengthened buying force in GAS, VHM and CTG. Foreign investors net buying on HOSE and liquidity continued to improve. In BSC's view, the domestic markets had a strong rebound session thanks to positive sentiment of investors considering important events of last weekend such as US – China trade war truce and the official signage of the EVFTA. Moreover, signal of furthering oil production cuts agreement from OPEC+ has impacted oil prices and the market in this session. At the same time, these positive news and expectation of business outcome for the second quarter will be the driving force supporting the uptrend movement of VNIndex. BSC forecasts that VNIndex will likely move in the 960-980 price points this week.  

Technical analysis
TCB_Double bottom model