VN-Index declines nearly 20 points as investors stay cautious ahead of selling pressure

VN-Index fell 19.87 points, or 1.13%, to 1,736.68 points, while the HNX-Index declined 2.34 points, or 0.92%, to 250.98 points.

Market retreat after a strong rally

VN-Index retraced after failing to break higher at a key technical area. According to BVSC, the index’s test of the convergence resistance of the 50-day and 100-day moving averages (MA50 and MA100) did not succeed, suggesting the market may need more time to consolidate before any breakout.

BVSC added that the index may trade in a narrow range below the MA50/MA100 convergence resistance around 1,745–1,755 points, as positive market upgrade information is absorbed and investors weigh risk linked to the Middle East.

Key technical levels and near-term outlook

BSC said the index could continue toward 1,840, citing the target level of an inverted head-and-shoulders pattern after short-term consolidation.

SHS noted that the short-term trend is accumulating positively within a narrow range, with support around 1,680 points (corresponding to the 200-day moving average) and resistance around 1,750 points. SHS described the 1,750 area as a strong resistance zone, also linked to the February 2026 low and the high of the sharp drop on 09/03/2026. The firm said the index faces pressure to retest the nearest support around 1,700–1,720 points.

In the near term, another view cited in the article highlighted that selling pressure remains fairly strong and the index may continue to adjust in the next session.

Trading breadth, sector performance, and foreign flows

Market breadth was negative, with 14 out of 18 sectors declining. The Insurance sector led the declines, followed by Travel & Leisure.

Regarding foreign flows, the article reported that foreign investors sold on HSX and UPCOM, while buying on HNX on the day.

The market correction followed the previous day’s strong rally, with liquidity described as relatively high.

Market valuation context and investment stance

One assessment in the article said the overall market trend is improving and consolidating positively again after a downturn. It cited total market capitalization of around 400 billion USD, about 78% of 2025 GDP.

The same view cautioned that this is not an attractive market level given persistent inflation pressure and still-high world oil prices. It added that even if the Hormuz Strait returns to normal, supply recovery would take time before events materialize. The article suggested investors may consider increasing weight when geopolitical tensions ease, based on expectations of market upgrades and Q1/2026 earnings, but should only buy at lower support levels when the market corrects.

Another recommendation advised investors to maintain holdings and gradually raise trailing stops in line with stock gains to preserve profits. It also said trading activities could continue to open positions at times when the market is volatile or correcting, and to focus on sectors with projected positive Q1 earnings.

Stock-specific note

SSI: The article said VN-Index faces resistance around 1,750–1,755 and briefly lags below this zone. The reaction around this area is expected to confirm whether the mid-term uptrend can be restored and whether the current rally has upside potential.

Disclosures

The market opinions of securities firms cited by VnEconomy are for reference only. These firms may have conflicts of interest with investors when giving opinions.