20200508_BSC_Vietnam Daily Review_EN_Breakthrough resistance level of 800_TA_TCB_Breakout

Market outlook 
Right from the morning session, the excitement trading sentiment from the previous session helped VN-Index to surpass the resistance level of 800 points. The uptrend for all stock sectors was in sync with a remarkable performance in Banking (VCB, TCB), Insurance (BVH) and Securities (HCM, VCI). Liquidity nearly doubled compared to the previous session, the trading band widened and the market breadth was positive. All of these indicators are supporting the gaining momentum of the market. Foreign investors also turned to a net buying after a series of net selling for a month, focusing mainly on VCB of VND 73 billion. With the current trend, VN-Index is likely to set a new fluctuation range of 800-900 points next week.

Future contracts: Except for VN30F2012, all future contracts increased following VN30. This reflected expectation for upward momentum. Investors might consider buying with target price around 765 points for short-term contracts.
Covered warrants: In the trading session on May 8, 2020, majority of coverred warrants increased following underlying securities. Trading value continued to increase positively.

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

Highlights
• VN-Index +17.19 points, closed at 813.73. HNX-Index +1.65 points, closed at 108.31.
• Pulling up the index: VCB (+4.02); VHM (+3.16); VIC (+1.45); TCB (+1.20); VPB (+0.98).
• Pulling the index down: GVR (-0.57); HPG (-0.16); POW (-0.07); PAN (-0.05); DHG (-0.04).
• The matched value of VN-Index reached VND 6,292 billion, nearly double that of the previous session.
• The amplitude is 25.52 points, wider than previous session. The market has 185 gainers, 62 unchange and 134 losers.
• Foreign net selling value: VND 73.04 billion on HOSE, including VCB (VND 73.88 billion), VNM (53.6 billion) and VHM (48.9 billion). Foreigners were net sellers on the HNX with a value of -18.67 billion.