Investment Comments
Beta Securities : From a technical perspective, in terms of trend, although the short-term uptrend is still valid, short-term risks are increasing. The short-term outlook is becoming less optimistic. Currently, the 1,250 - 1,260 point area is playing a supporting role for the VN-Index.
Most technical indicators are showing negative signals, indicating a trend reversal and continued increase in short-term selling pressure. In the next trading sessions, the market may experience fluctuations/corrections as selling pressure shows no signs of stopping.
Investors need to carefully observe exchange rate developments and foreign trading movements, limit the use of leverage and balance their portfolios in a safe direction to minimize risks to their portfolios.
Vietcombank Securities (VCBS) : The market has experienced its fourth consecutive correction since last week and returned to the support zone around the 1,250 point mark. Overall, the market has experienced a 4-month long uptrend, so the accumulation correction phase may last from 3 to 4 weeks.
Therefore, VCBS recommends that investors prioritize risk management at the present time, can take advantage of the recovery to restructure the portfolio by selling stocks that cannot maintain the upward trend during this period and limit early bottom-fishing disbursement.
On the contrary, investors can also consider disbursing with new stocks showing signs of entering an uptrend from a long-term accumulation base, paying attention to oil and gas, public investment and real estate groups.
Saigon - Hanoi Securities (SHS): The market adjusted for the fourth consecutive session but the movement is still in the accumulation phase as the VN-Index has not lost the support level around 1,250 points.
From a short-term perspective, the market moves positively in the accumulation process and has correction sessions when approaching the strong resistance level of 1,300 points.
With the current state, if VN-Index maintains the support zone of 1,250 points, the accumulation scenario in the 1,250 - 1,300 point zone will continue and there is still a possibility that it can move towards and surpass 1,300 points. In case the 1,250 point zone is lost in the coming sessions, the short-term risk for VN-Index will increase and it may enter a downtrend with support around 1,250 points.
Stock news
- Footwear exports flourished in the first quarter of 2024. According to the General Statistics Office, footwear exports of all kinds in March recovered strongly, earning 1.7 billion USD, an increase of more than 600 million USD compared to the previous month. With this performance, the total footwear export turnover in the first quarter of the year reached 4.85 billion USD, an increase of 11.7% over the same period last year.
- In the first 3 months of the year, wood and wood product exports earned 3.4 billion USD. Preliminary statistics from the General Department of Customs show that the export value of wood and wood products in March 2024 is estimated at 1.12 billion USD, up 46.3% compared to February 2024, but down 1.9% compared to March 2023. In the first 3 months of 2024, wood and wood product exports are estimated at 3.4 billion USD, up 18.9% over the same period in 2023. Of which, the export value of wood products is estimated at 2.3 billion USD, up 22.9% over the same period in 2023 .
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