VN-Index had a down session with the fluctuation amplitude gradually increasing towards the end of the session. Closing the April 3 session, VN-Index decreased 15.57 points to 1,271 points.
According to securities companies, sellers are dominant and the risk of further correction is quite high. Therefore, investors should be cautious in the coming trading sessions.
The sellers are dominating
Agriseco Securities
On the technical chart, VN-Index formed a falling Marubozu candlestick pattern, showing that sellers are highly dominant. The positive point is that there is still demand participating when the market shakes, helping the 1,270 mark near the MA20 not be violated during the session. On the time frame, VN-Index tends to decrease to the lower border of the Bollinger Bands, signaling the possibility of expanding the amplitude of the correction. The index will likely fill the gap of 1,261-1,264 in the next few sessions before returning to the previous upward trend. Agriseco recommends that investors increase the proportion of trading positions when the index fluctuates towards the Gap area mentioned above.
ASEAN Securities
Selling pressure appears more clearly within the market structure. The short-term uptrend is gradually being threatened as the market is in an unsustainable uptrend. The strong increase in liquidity on the selling side is an important factor to evaluate the market during this period, showing that buying demand in the highlands is actually decreasing.
Therefore, Asean Securities continues to maintain the market view that we should only be disciplined in keeping the stock proportion at an average level and set the 1,260 point mark as a risk management milestone.
The market will continue to decline
Yuanta Securities
The market may continue to decline in the next session and the VN-Index may retest the short-term support zone of 1,255 - 1,260 points. At the same time, short-term risks show signs of increasing, so adjustment pressure may continue to increase in the coming trading sessions, especially the exchange rate continues to increase, so we evaluate foreign investors. will continue to increase in the coming trading sessions.
SHS Securities
Short-term movements of the market are tending to follow the shake-out scenario to prolong the accumulation process. This is also understandable because VN-Index is facing a strong resistance level of 1,300 points and the longer the accumulation process lasts, the higher the reliability for the subsequent movement to overcome the barrier. The index's short-term support threshold will be around 1,250 points.
BSC Securities
The trend of struggling at high price areas has not ended yet, investors should be careful in the coming trading sessions.
