VN-Index targets the 1,800-point level

The VN-Index’s rally continued to be supported by blue-chip stocks, helping the market extend gains toward the resistance zone of 1,780–1,800. At the close, the VN-Index rose 16.69 points, or 0.95%, to 1,776.65. The HNX-Index increased 0.75 points, or 0.30%, to 252.41.

Market development

Several brokerages noted that large-cap stocks drove the rebound early in the session and pushed the index to test the 1,775–1,785 resistance area. However, selling pressure near resistance limited the pace of gains into the close.

Overall, the market is expected to trade in a watchful, range-bound and choppy manner, with sector rotation contributing to alternating performance across stock groups.

Trading range and breadth

One market view highlighted that the VN-Index traded in a range of 1,765–1,785 and closed at 1,775.65, up nearly 17 points. Breadth was positive, with 11 out of 18 sectors higher, led by Real Estate and Basic Resources.

Foreign investors were net buyers across all three exchanges, according to the same commentary.

Key resistance levels and technical signals

Multiple outlooks pointed to resistance around 1,800. BVSC said the index tested 1,775–1,785 and expects oscillation around the MA50 with sector rotation. TVS also targeted the next resistance around 1,800, while noting that the rally may rely heavily on a few names and that other sectors may not sustain momentum.

VCBS added that on the daily chart the index is testing the upper Bollinger Band, RSI momentum is rising, and the MACD histogram is expanding in positive territory, indicating active buying and an uptrend. On intraday, the index has not decisively broken above the upper Bollinger Band; RSI is near overbought and CMF is flat, suggesting the possibility of short-term pullbacks.

Impact and sector dynamics

Brokerage commentary emphasized dispersion across sectors in line with Q1 earnings and information from the annual meeting season of listed companies. The large-cap segment is expected to continue providing positive momentum to support the index.

SHS noted that while the VN-Index rebound is extending toward around 1,800, other sectors remain less positive, offering fewer attractive growth opportunities. The real estate sector was also cited as a key contributor to market sentiment.

Brokerage strategies and investor guidance

• BVSC: Maintain short-term positions and consider trimming positions that have reached price targets when the market approaches the 1,775–1,785 resistance zone. The firm also referenced a strategy of buying ahead of groups that have not fully recovered from their troughs.
• BSC: Trade cautiously until a new trend is confirmed, given that short-term rallies remain choppy and lack consensus.
• SHS: Remain cautious as the index and leading stocks approach strong resistance near historical highs. Maintain balanced allocation, focusing on stocks with solid fundamentals and leading positions in strategic sectors.
• TVS: Keep a safe weight as liquidity thins and monitor the VN-Index around 1,800 in coming sessions.
• YSVN: Expect the VN-Index to oscillate between 1,770–1,800 before a new trend emerges. For the short term (less than a month), consider buying on corrective dips and gradually taking profits as the index approaches 1,800.
• VCBS: Maintain current exposure and add on dips in stocks with solid bases in sectors such as Consumer, Banking, and Steel. SSI commentary similarly highlighted blue-chips lifting the index while urging selective caution on the pace of advances.

Outlook

Overall, the market outlook remains cautiously constructive, with upside potential in the near term. At the same time, investors are advised to watch external developments and sector-specific dynamics as the VN-Index approaches key resistance areas around 1,800.