VN-Index gained points with improved liquidity yesterday, marking the 5th consecutive rising session. The index is expected to retest the recent peak in the range of 1,240-1,245 points.
This resistance level could trigger profit-taking and create fluctuations or even corrections for the VN-Index, with support at the EMA5 at 1,220 points. In a more positive scenario, if the VN-Index surpasses the 1,245-point mark, the index’s upward momentum will be reinforced with the next resistance at 1,280-1,285 points.
MSB of Vietnam Maritime Bank was the strongest gainer, closing at VND 14,900 per share, up 6.4%. This stock even hit the daily trading limit at VND 14,950 per share during the session. MSB’s trading volume also surged with over 24 million shares matched, worth more than VND 350 billion, which is over three times higher than the previous session.
L14 increased in value with strong liquidity yesterday, closing at its highest level in two weeks and above the EMA200 resistance at 56,500. This signals a price increase for L14. Consider buying L14 with a short-term target at 68,500 (the peak in December 2022) and a stop-loss threshold at 56,500.
While domestic investor funds continue to flow into the market, foreign investors are showing greater caution as they have been net sellers of nearly VND 3,000 billion throughout August, marking their 5th consecutive month of selling in the Vietnamese market. Specifically, foreign investors sold a net amount of VND 2,548 billion on HOSE, VND 23 billion on HNX, and VND 413 billion on UPCOM in August.