Some securities companies believe that the index also needs more time to accumulate and stabilize the price level before entering a new uptrend.
Continually accumulating around 1,470
Securities Company of Bank for Investment and Development of Vietnam (BSI): After 3 days of being held back at around 1,475 points, just opened the session on December 16, VN-Index jumped to nearly 10 points.
However, selling pressure forced the index to gradually drop to the level of 1,470 before closing again at 1,476 points, only 0.08% higher than the closing price of December 15. In the session of December 16, the money flow divergence was quite strong.
While the real estate and construction sectors waved the flag of rebellion, the "Steel Proof" friendship trio (Bank, securities, and steel) pulled together, making the VN-Index unable to break through 1,480.
Market breadth tilted to the negative side with 8/19 sectors gaining. Regarding the transactions of foreign investors, on December 16, they were net sellers on both HOSE and HNX. In the short term, the market will probably continue to accumulate around 1,470 threshold.
MB Securities Company (MBS (HN:MBS)): December 16 is the derivative maturity session, so the market may be cautious. This is shown when two important indexes, VN30-Index and VN-Index, fluctuated out of phase in the session of December 16, in which the VN30-Index continued to sink below the reference level, the VN-Index with an increase.
The support of real estate group recovered in the last minutes of the session. Meanwhile, Mid Cap and Small Cap stocks are still in the process of finding new highs when the cash flow is mainly looking for opportunities in speculative stocks.
Technically, VN-Index continued to struggle strongly above the middle line of Bollinger Bands (1,465-1,468 points). This will still be the nearest support of the index in the near term since December 17.
Accumulate and stabilize the price level
Vietnam Foreign Trade Bank Securities Company Limited (VCBS): The downward adjustment pressure gradually increased when the index surpassed 1,480 points, which is understandable in the context of the current lack of supportive information. Besides, the index also needs more time to accumulate and stabilize the price level before entering a new uptrend.
Accordingly, VCBS believes that this is the period when investors should actively seek and gradually accumulate potential stocks for long-term investment goals in 2022.
The opportunity to expand the recovery span still prevails
