View of the first week of November: Correction and continued uptrend?

BSC assesses that in the first week of November (November 1 to 5, 2021), the market may have correction sessions and continue to maintain the upward momentum to new highs.

KB Securities Vietnam (KBSV): VN-Index struggled with alternating ups and downs in the session of October 29 before extending the gaining momentum towards the end of the session. After 4 consecutive gaining sessions, short-term profit-taking pressure at high prices is hindering the index's gaining momentum.

KBSV thinks that the shaking rhythms will become clearer when the index approaches the resistance area near 1,450 (+/-5 points). However, with the uptrend playing a dominant role and improving liquidity, the index's chance to expand the gain still prevails.

Investors are recommended to continue to hold medium-term positions and can flexibly combine with trading activities for short-term positions, take partial profits when hitting resistance or spread buy back when reaching support.

Adjust and keep going up

Securities Bank for Investment and Development of Vietnam (BSI): The market experienced a struggling session in a narrow range, however, the VN-Index still increased by more than 6 points at the end of the session on October 29. This session saw 9/19 gainers, led by Construction and Materials and Real Estate with an increase of nearly 2%. Market breadth was quite balanced as the number of gainers was equal to the number of losers. Liquidity increased by more than 12% compared to the previous session. Regarding the transactions of foreign investors, in the session of October 29, they were a slight net buy on HOSE and a net sell on HNX. In the following week (November 1-05), the market may have correction sessions and continue to maintain the upward momentum to new highs.

Challenge the threshold of 1,465 points

MB Securities Company (MBS (HN:MBS)): The market closed a week of surpassing historic peaks and setting new highs, the rally was supported by a 19% increase in liquidity and foreign investors turned to be net buyers after the series. 11 consecutive weeks of net selling. A series of 4 consecutive gaining sessions brought the market to new highs like removing investor sentiment from the previous 2 weeks of sideways movement. The market is expected to set new highs when the cash flow continues to increase, the VN-Index is likely to challenge 1,465 points in the coming sessions.

Take advantage of shaking sessions to increase a portion of the weight

Phu Hung Securities Company (PHS): In technical term, VN-Index had the fourth consecutive gaining session. The trading volume increased strongly and remained above 10 and 20 session average, meaning strong cash flow. Moreover, the index closed above MA5, along with MA5, 10, and 20 beams in positive divergence, showing that the uptrend is still ongoing. Besides, other technical indicators are showing signs of consolidation for the current gaining momentum, such as MACD moving up on Signal and maintaining buy signal, and RSI pointing up at 78, showing that the index might continue. continued to go up and opened the opportunity to challenge the psychological resistance level of 1,500 points in the coming sessions.

For HNX, HNX-Index had similar situation. The index continued to go up and closed above MA5 with a positive MA20 beam, showing that the uptrend is still ongoing, the index might move to challenge the psychological resistance level of 450 points. In general, the uptrend of the market is continuing. Therefore, investors should take advantage of shaking sessions to add a part of their weight to leading stocks and attracting strong cash flow.

Continue to have increasing inertia

Asean Securities Company (Aseansc): The market on October 29 recorded the 4th consecutive gain under the guidance of real estate stocks. The cash flow continued to pour strongly into the market, helping to bring the VN-Index to a new high.

Aseansc forecasts that in the next session, the VN-Index will continue to gain inertia in the morning to test the resistance area near 1,445-1,450 points, and further out the resistance zone at 1,455-1,460 points. The shaking may occur at the high price area, so VN-Index may narrow its gaining momentum towards the end of the day.