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The VN-Index extended its positive uptrend in the latest session, supported by improved liquidity and active cash flow. However, profit-taking pressure increased notably in the afternoon as the index neared the 1,925-point resistance zone, narrowing upside momentum into the close. Several securities firms expect short-term fluctuations and emphasize the need for risk management and portfolio restructuring.
Tien Phong Securities (TPS) said the market may continue to see short-term swings as investors become more inclined to realize gains after reaching a new high. TPS expects a potential technical correction, with the area around 1,860 points viewed as an important psychological support. Despite near-term volatility, the mid-term uptrend is considered relatively positive due to a stable technical structure and dense lower supports. TPS advised investors to avoid chasing gains and instead use pullbacks to restructure portfolios toward stocks with strong upside momentum and continued positive money flow.
Shinhan Securities (SSV) noted that after breaking through 1,900 points, the index could move toward around 1,950 points. The firm expects pullbacks to rebalance and rotate funds into leading new groups, including banks and securities. SSV also highlighted that the market remains influenced by geopolitical developments: while a ceasefire improves sentiment, the two sides have not yet reached a final peace agreement. In a negative scenario involving prolonged disruption at the Hormuz Strait, tighter global oil supplies could keep oil prices high for longer, raising stagflation risk. Under that scenario, SSV said the VN-Index could face a deeper correction if it decisively loses the 1,580 support, followed by weak rebounds.
Saigon-Hanoi Securities (SHS) stated the VN-Index’s short-term trend remains on a growth path with support around 1,850 points. With positive contributions from large-cap stocks, SHS expects the index to move toward the historical peak range of 1,900–1,920 points. For the VN30, the target is around 2,100–2,120 points. SHS added that there is no forecast of a breakout through the resistance zone yet, and that indicators are entering overbought territory, which could increase high-price selling pressure.
BIDV Securities (BSC) said the rally was capped when the VN-Index crossed 1,920, and that the RSI indicator has entered overbought territory. BSC expects short-term volatility in the 1,900–1,920 range.
Bao Viet Securities (BSV) reported that the VN-Index rose above 1,900 and then returned to the old high, supported by large-cap stock groups. BSV warned that volatility risk may intensify because the market remains elevated without supportive information, while trading diverges based on company-specific news. BSV placed support at 1,890–1,900 and resistance at 1,915–1,925.
Overall, the market appears highly differentiated, with positive activity concentrated in a limited set of leading names across sectors showing short-term growth, including real estate, port, electricity, and rubber, as well as standout stocks in the private banking group. SHS suggested investors consider opportunities in the best-growth stocks within these sectors, while maintaining strong risk management given that valuations are not in an overly attractive range.
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