BIDV Securities (BSI): WATCH
After correcting to near support 668 mentioned in the previous report, VNIndex has recovered impressively, largely thanks to the steel group, excitement has spread to other groups, such as large-cap oil and gas group.
VN-Index closed at its highest level during the day and above 681 along with improved liquidity are good signs for the market in the next session. However, the technical indicators have not yet to be improved, making short-term rebound of VN-Index still uncertain.
Investors should watch the next movement of the VN-Index, join the market if VN Index is higher than 691 - the threshold where technical indicators will be improved significantly.
Bao Viet Securities (BVS): positive in the medium term with the next target at 700- 710
VnIndex is forecast to remain positive in the medium term with the next target at 700- 710. However, the divergence may turn clear, especially between the bluechips having solid Q3 earnings result and the remaining mid-cap and penny stocks.
Some groups of stocks upon our recommendation include securities, real estate, building materials, oil and gas, IT and leading bank stocks.
VPBank Securities (VPBS): follow the market from the sidelines
With today’s rebound, the indices remained above their MA20 supports, and could rise further in the coming sessions. If they do continue upward, the next strong resistances – which are 690 for the VN-Index and 85–86 for the HNX-Index – could prove a tough challenge.
It is currently unclear whether any advance could decisively break through these levels. Therefore, if the indices approach their resistances, we recommend that traders lower their stock weights and follow the market from the sidelines.
KIS Vietnam Securities Corporation (KIS): keep an appropriate stock weight
Technically, the VN-Index successfully formed the short-term bottom although it cut down the MA(20) in most of trading time. Besides, we see the appearance of reliable bullish reversal signals with strong volume and bullish candlestick.
In the short term, the VN-Index may retest 690-692. However, we recommend traders to keep an appropriate stock weight and actively observe the index.
RongViet Securities Corporation (RongViet): uptrend extends shortly, at least for 3 days
Market sentiment tended to slightly recover. The surprising liquidity and gains of VNIndex normally will keep the uptrend shortly, at least for 3 days when shares bought today become available-for-sale.
In brief, market could take advantages of information (Q3 earning) and positive sentiment to gain a short-term uptrend.
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