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The market rose selectively on 16/04, with gains driven by a small number of stocks. Analysts said the rally may not be sustainable across the board, and investors should trade cautiously during this period.
BSC: The VinGroup-led stock group continued to push the market higher in the session on 16/04. The VN-Index closed at 1,819.83 points, up nearly 20 points from the previous day.
According to BSC, the rally is led by a few stocks that may be unlikely to sustain the gains, prompting a cautious approach for investors.
SSV: The market is still in a technical upmove rather than a broad-based uptrend. In the near term, the index is expected to move toward 1,820–1,840 before a pullback.
In the medium term, SSV said the VN-Index remains in a consolidation phase, fluctuating in the 1,580–1,800 range. The firm advised investors to avoid chasing gains and to focus on stocks with improved business performance.
SSV also noted that money flow currently tends to favor domestic-led sectors, including infrastructure spending, banking, and construction materials.
VPBankS: VPBankS said current index movement does not fully reflect supply-demand dynamics, as many stock groups are hovering or under downward pressure. When the VN-Index returns toward recent historical highs, many groups remain in a nearby range.
In this context, VPBankS suggested the VN-Index could see more volatility in the near term before sectors reach stronger consensus.
Asean: Technically, Asean said the VN-Index continues to trend higher, closing with a long bullish candle that indicates demand remains dominant. The index is also staying above key moving averages, including MA5 (~1,781), MA10 (~1,743), and MA20 (~1,699), supporting a short-term uptrend.
However, Asean added that after the rapid rise from the recent bottom, much of the rebound’s trading edge has been used up. Levels around 1,830–1,850 were described as less attractive for new buying in terms of risk/reward.
For the next session, Asean outlined a high-probability scenario of volatility or technical testing around 1,800–1,810 to reassess demand. If this zone holds, the index could extend higher to 1,830–1,850 in subsequent sessions.
On positioning, Asean recommended maintaining stock exposure at 60–75%, prioritizing existing positions and adding only on pullbacks or technical corrections rather than chasing gains after strong moves. It also advised keeping margin usage low to moderate.
VikkiBankS: VikkiBankS said the market’s increasingly differentiated move toward the end of the week suggests profit-taking pressure may emerge in coming sessions, particularly in stocks that have risen sharply.
At the same time, the firm noted that money rotation can create opportunities in stocks that have not risen much, as long as they maintain solid fundamentals and attract capital. VikkiBankS advised investors to focus on stocks with strong fundamentals and room to grow.
To be continued
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