The VN-Index is likely to fluctuate around 1040 -1075

The analysis team found that, in general, the recent uptrend showed signs of cooling down. Therefore, investors should watch carefully with high price chasing long positions.

The market moved sideways with a slight increase from the mid-cap group, however, the opposite direction made the VN-Index unable to rebound, foreign investors turned to be a strong net seller.

Ending the session on February 17, VN-Index increased 1.02 points, or 0.1%, to 1,059.31 points. There were only 173 gainers on the whole floor, 221 losers and 77 unchanged stocks.

HNX-Index fell 0.89 points, or 0.42%, to 209.95 points. There were 66 gainers, 88 losers and 75 standstill stocks on the whole floor. UPCoM-Index fell 0.72 points to 78.94 points. Particularly, VN30 basket recorded 18 discount codes.

The total matched value in the session reached 9,025 billion dong, down 11% compared to the previous session, of which, the matching value on HoSE floor also decreased 9% to 7,692 billion dong. In the VN30 group, market liquidity reached VND 3,179 billion.

VN-Index is re-testing the resistance zone

TVSI Securities: VN-Index ended the session with a Doji candle, showing that the balance is back and the sellers have balanced with the buyers following two positive recovery sessions. Today’s gain is still concentrated in the number of small and medium-sized stocks accompanying the market reflecting the “green shell and red heart” status.

The pressure to drop back is still very strong if the liquidity has not improved dramatically in a positive direction in the coming sessions. In general, VN-Index is re-testing the resistance area which was the previous balanced support around 1,060 – 1,075 points. The index’s short-term trend is still dropping and the index is only in a short recovery span once more. The forecast trend will be clearer in the next trading week.

Most likely will continue to experience shaking pressure

KBSV Securities: VN-Index struggled during the session with alternating ups and downs and formed a neutral doji candle at the end of the session. After approaching the remarkable resistance around 1,060, the index’s recovering momentum is slowing down due to increasing short-term profit-taking pressure.

VN-Index is likely to continue to experience shaking and swinging pressure in the coming sessions and the risk of returning to the downtrend is still overwhelming. Investors are recommended to sell and lower the trading proportion in the early retracements.

Short-term downtrend still exists

Phu Hung Securities: In technical term, VN-Index had a third consecutive gaining session. The volume remained below 10 and 20 session average, meaning that the cash flow is somewhat cautious. Not just that, the index went up with a narrowing candle, showing that the recent recovery has shown signs of cooling down and the index may have a few shaking sessions next week before the direction is clearer. .

In addition, the index is still under pressure of MA20, along with MACD still below Signal maintaining sell signal, showing that short-term downtrend is still present, therefore, in case the index can’t hold, close. If the door is above MA5 in the next shaking sessions, the correcting pressure will return, with support near 1,030 points or beyond psychological 1,000 points. In general, the recent uptrend showed signs of cooling off the market. Therefore, investors should watch carefully with high price chasing long positions.

Selling pressure is no longer strong

MBS securities: The market had a slight recovery week following adjusting for 2 consecutive weeks in the context of low liquidity and foreign investors turning to be net sellers. The positive point is that the market breadth recorded a large-scale recovery in many stock groups, the most prominent of which were public investment, oil and gas, power generation,….

Besides, the liquidity this week below the threshold of VND 10,000 billion also shows that the selling pressure is no longer strong, and investors who catch the bottom with profit are not in a hurry to sell immediately. Currently, the market does not have much supporting information to recover strongly, the cash flow mainly moves in small and medium stocks. With low liquidity, the VN-Index is likely to remain fluctuating in the range of 1,040 – 1,075 points next week.