Viewpoint 21/04: Do not rush to deploy funds as VN-Index nears an all-time high

Viewpoint 21/04: Not rushing to deploy funds April 20, 2026 19:33 Viewpoint 21/04: Not rushing to deploy funds Many brokerage firms advise not to rush disbursement as the VN-Index approaches its all-time high. Instead, they suggest waiting for a correction to accumulate in an environment where liquidity is thinning and money has not yet spread across sectors. Prioritizing risk management According to TPS (Tien Phong Securities), the VN-Index is approaching a strong resistance around 1,850 points amid thinning liquidity, indicating demand at high price levels is weakening — an early signal of a short-term correction. Although the uptrend remains intact, market momentum has stalled and volatility could increase if money flow does not improve. If a correction occurs, nearby support is around 1,740 and deeper at 1,668. TPS recommends limiting chasing buys, taking partial profits, and waiting to deploy again at discounted levels where stocks still have a solid accumulation base. Not yet time to open new positions SSV (Shinhan Vietnam) believes the VN-Index, though rising to 1,837, has gains concentrated in blue-chip stocks and liquidity is declining. SSV warns that upward pressure could appear as the index nears 1,860. Nearby support is around 1,800, with deeper support near 1,680. Given ongoing geopolitical risks, investors should avoid chasing rallies and favor stocks with solid fundamentals. Maintain weight, wait for more signals SHS (Saigon-Hanoi Securities) notes the VN-Index is recovering well from about 1,800 and heading toward 1,850, but there is no clear basis to break this resistance. Liquidity has fallen for two consecutive sessions, suggesting cautious sentiment, especially with geopolitical risks in the Middle East still present. SHS recommends maintaining current exposure, awaiting new information before increasing weight, and possibly buying when the market corrects. Avoid chasing at high prices Asean (Aseansc) assesses the VN-Index in a positive short-term uptrend above key moving averages, but the current price level is no longer an attractive entry point as the index has surged toward 1,840-1,850. The main scenario suggests continued volatility around this zone, with upside only if a decisive breakout occurs toward 1,860-1,870. Investors should maintain current exposure, avoid chasing, and only increase when there is a pullback that holds a base or a clear breakout. Time to rebalance BSC (BIDV Securities) notes the market advanced thanks to VinGroup stocks, but breadth is not broad. Money flow appears divergent and investors should remain cautious and selective for short-term opportunities. Wait for money to broaden VCBS observes that the VN-Index remains positively positioned above the MA20 and MACD continues to trend higher. However, gains still depend on a few large-cap stocks, while the rest have not recovered uniformly. VCBS expects money to gradually spread to more sectors. Investors should monitor the market closely and deploy gradually into stocks with solid support, prioritizing banks, infrastructure, and retail. Volatility to absorb supply VPBank (VPBankS) notes the VN-Index is approaching the 1,850 resistance with improving upside momentum. Recent pullbacks appear to be technical in nature to absorb the supply and attract new money. Investors can continue holding partial positions in stocks with positive Q1 earnings prospects, especially at discounted prices. Accumulation before higher gains Yuanta Vietnam sees the VN-Index in a consolidation phase as liquidity softens but remains supported by large-cap stocks and earnings season. The index is expected to stay above 1,790-1,800 before continuing higher. Investors may seek opportunities in stocks in uptrends that pull back intraday, with a preference for financials, real estate, and retail. Money flow remains differentiated VikkiBankS says the market remains positive but liquidity has not spread widely, so dispersion continues to drive. Investors should focus on firms with solid fundamentals and ride the flow to optimize returns. Update by Tử Kính FILI: 18:31 20/04/2026