Securities on June 26 through technical prisms
admin 25-06-2020, 23:56

Securities on June 26 through technical prisms
Securities company Positive Neutral Negative BVSC X SHS X VDSC X VCSC X KBSV X

Keep going down

(Bao Viet Securities Company – BVSC)

VN-Index dropped and is likely to continue heading to the lower BB band in the next few sessions. The market trend is likely still moving sideways in the area of 830-870 points. Therefore, when approaching the lower BB band at 830-840 points, the index might give a recovering reaction. The market trend in the current period continues to weaken when the ADX indicator is falling below 30.

Regarding technical indicators, many high-accuracy indicators are signaling the possibility of the market continues to decline. Stochastic Oscillator, Know Sure Thing and MACD continue down and below the signal line, especially MACD histogram also continued to decline, showing that the market is likely to continue to decline in the short term.

VN-Index is forecasted to continue going down to the support area around 830-840 points. Here, the index is likely to react to recover and continue sideways in the area of 830-870 points in the near future.

Continue to struggle

(Saigon-Hanoi Securities Company – SHS)

VN-Index dropped for the third session in a row and it closed below 860 points. The short-term technical signal is negative with resistance at 870 points (MA20). The midterm technical signal is positive, with support at 835 points (MA50). In the long term, VN-Index is moving in bear market with resistance at 900 points (MA200). It is predicted that, in the next trading session on June 26, VN-Index may continue struggling and accumulating with a range of 840-870 points (fibonacci retracement 50%, MA20).

HNX-Index recovered today and the index closed below 115.5 points (MA20). The short-term technical signal is negative with resistance at 115.5 points (MA20). The mid-term technical signal is positive, with support at 111 (MA50). Regarding the long-term trend, HNX-Index is currently moving in bull market with the support at 106 points (MA200). It is forecasted that in the next trading session on June 26, HNX-Index may continue to struggle and accumulate in the range of 112-115.5 points.

Risks continue to decline still exist

(Rong Viet Securities Company – VDSC)

The recovery span is weakening when VN-Index failed to surpass 873 points in three consecutive sessions. The short-term downtrend is likely to continue for longer, and does not exclude the possibility of a deeper decline of 830 points. Technical indicators are in a negative state. The MACD is below the signal line and is likely to cross below the zero line. The RSI just dropped below the 50 level.

HNX-Index is struggling around the support level of 113 points. The MACD indicator is in the negative state when it is below the signal line. The RSI indicator gives a neutral signal when struggling around the 50 level.

Recommendation: Indices are mixed in a narrow band with liquidity below average. The short-term recovery span is weakening and the risk of further decline is still present. Investors continue to consider reducing the proportion of stocks in the portfolio to a safe level.

Testing support at 848 points

(Viet Capital Securities Company – VCSC)

Short-term technical signals at the indices have no change compared to the previous session. Specifically, the signals of the VN-Index, VN30 and HNX-Index remained negative while the signals of VNMidcap and VNSmallcap remained positive, but with a weakening sign has not been removed.

Tomorrow, the recovery effort at the end of the day can create inertia for the market to increase slightly at the beginning of tomorrow session. VN-Index may retest MA10 resistance at 858 points while VNMidcap, VNSmallcap may retest MA5 resistance at 900 points and 785 points. However, VCSC believes that the selling pressure from these resistances might regain its advantage in the afternoon session, causing stock indexes to retreat back toward the end of the day. Accordingly, VN-Index may need to retest the short-term support at 848 points below or deeper than strong support MA50, MA100 at 828-835 points. On the contrary, if VN-Index can surpass MA20 resistance at 872 points, short-term trend will be improved.

There is a chance to continue a slight recovery

(KB Vietnam Securities Company – KBSV)

The market slumped at the beginning of the session before recovering slightly and regaining some of the points lost at the end of the session. The plunge at the beginning of the session caused the short-term trend to turn negative. Although the VN-Index still has a chance to continue its slight recovery tomorrow with the resistance around 858, the risk of early reversal and continued bottom breaking need to be taken into account. Investors are recommended to wait for a deep correction and the index turns to strong support levels at 79x and 77x before buying partial orders again.

Investors should only consider the statements of securities companies as a reference source. Securities companies all recommend disclaiming liability for these statements.