According to statistics, currently 30% of stocks on the HSX are below the bottom at the end of March, 10% of stocks have the same price as the bottom.
The Securities Investment Review summarizes the market assessment report of some securities companies for the trading session on July 28.
Use this drop to accumulate stocks for medium and long term goals
Tan Viet Securities (TVSI)
The selling pressure maintained at high level so the index quickly lost support level of 800 -820 points. This increases risks in the short term. The index might continue under dropping pressure in the next session.
However, the scenario of forming a strong downtrend like February was not highly appreciated. We think that the index might recover after dropping to the support area of 750-770 points. The short-term trend is forecast to continue moving sideways.
We believe that investors can use this dropping span to accumulate stocks for medium and long-term goals.
It is possible to reopen the stock purchase status, however, the proportion is only about 30%.
SmartInvest Securities Company (AAS)
According to the quantitative statistics of today’s candlestick pattern, the probability that the VN-Index will increase tomorrow is 33% and 80% of the closing price will be higher than the opening price.
The market is still inclined to a negative trend at the moment, but we believe that starting tomorrow, investors can reopen the stock buying status. However, the allocation rate is only about 30% at this time.
May consider opening T + trading positions, preferably available positions
Bao Viet Securities (BVSC)
VN-Index is expected to continue falling to the support area of 756-778 points in the next several sessions. We expect to see a rebound soon after returning to this support zone.
In this scenario, the index might return to challenge resistant level of 800-820 points. However, overall, we still note that, the index still has a risk of dropping to the support area of 700-720 points in the short term.
Investment strategy: Maintain the share rate in the portfolio below 25% of stocks. Investors may consider opening T + trading positions, preferably available positions in the portfolio when the index drops to the support area we mentioned above.
Take advantage of technical rebound to close short-term positions
KB Securities Vietnam (KBSV)
VN-Index opened the gap and dropped at the beginning and although the support level around 795 helped the index recover slightly, the dropping pressure soon returned, pushing the index down to the end of the session.
We think that the index might lose the gaining trend from the bottom in March and turn to middle-term dropping trend.
However, after a strong drop, the index is likely to see a short-term technical recovery at support level of 758-773 points.
Investors are recommended to take advantage of the recovery span to close the remaining short positions in the account.
This reduction is an opportunity for investment strategy from 3 to 6 months
MB Securities (MBS)
Adding a deep decline is not an unpredictable scenario when the worry about covid-19 is covering, the decline today is quite strong and equivalent to the two deepest decline sessions in March.
According to statistics, currently 30% of stocks on the HSX are below the bottom at the end of March, 10% of stocks are priced at the bottom.
Therefore, this drop is an opportunity to accumulate stocks for the investment strategy from 3 to 6 months.
Foreign cash flow disbursed for 2 consecutive sessions, including foreign investors, unlike the drop in March, foreign investors mainly sold and this time, they actively bought again.
VN-Index is likely to drop to 750 points in the next few sessions
BIDV Securities (BSC)
Market liquidity decreased slightly from the previous session, the market breadth was negative and the market amplitude widened, reflecting the sell-off sentiment on the market.
With such a strong downtrend, VN-Index has returned to the short-term support area of 780 points. If the strong dropping span continues, VN-Index is likely to drop to 750 points in the next sessions.
- Stock market commentary on July 3: VN-Index is forecast to increase slightly at the end of the week?
- Stock market commentary on June 26: The ability to recover, continue moving sideways around the threshold of 860 points
- Stock comment July 21: New buying positions, stop to be alert
- Securities on June 24 through technical prisms
- Securities on June 26 through technical prisms
- Assessment of derivative stocks on October 6: Accumulate to surpass 876 points in the short term
- Securities on June 23 via technical prism
- Stock judgment 9/9: Accept the sideways scenario of 890-900 points