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TVS maintains its short-term target for the VN-Index at 1,940–1,950, citing support from the Vingroup group—particularly VIC—along with backing from banking stocks. During the week, the VN-Index rose 61.27 points, or 3.3%, to 1,915.37. In contrast, the HNX-Index fell 4.17 points, or 1.66%, to 246.49.
BVSC expects volatility and a potential pullback as the VN-Index tests the old resistance level. Even so, the index stayed green and closed above the previous high, indicating that rotation among large-cap stocks may continue to support the market. However, BVSC also notes that market breadth remains negative, with divergence across groups, which could make it harder to attract new capital.
TVS adds that the VN-Index’s momentum is being driven by large-cap stocks led by VIC and supported by banks. The index rose 6.4 points (0.3%), closing at 1,915.4 after midday weakness was followed by an afternoon rebound led by VIC and banking stocks.
TVS points to the 1,940–1,950 zone as the upper boundary of the longer-term uptrend, where volatility is likely to increase. Investors are advised to consider partial profit-taking around 1,940–1,950.
VCBS expects continued volatility. It notes that the VN-Index finished at 1,915 and formed a spinning-top pattern, reflecting investor hesitation as the index approaches the historic high around 1,915. On the daily chart, MACD and RSI are described as overbought, but without negative divergence. CMF money flow is cited as supporting additional upside, alongside sector rotation toward nearby resistance.
On an intraday basis, VCBS says MACD and RSI have formed only a local peak and have not shown negative divergence, which it interprets as supportive of accumulation near the top before a potential new breakout.
Liquidity declined to about 28,138 billion VND. While VCBS highlights that the VN-Index remains positioned near the peak with alternating gains and sector rotation, it also emphasizes that broader market consensus is still needed to break decisively above the 1,900–1,920 area.
BVSC reiterates that breadth remains negative and divergence across groups persists, which may limit the market’s ability to draw fresh money.
Across the outlooks, investors are advised to adjust cash-to-equity allocations to reasonable levels, use trailing stops to manage risk, and continue partial profit-taking on positions that reach targets. With the VN-Index already above the prior peak, maintaining stock exposure is suggested, alongside deploying on pullbacks.
Priority is given to stocks that either hold their support levels or attract flows from sectors such as Banking, Retail, and Steel.
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