Market Update [June 14] – VN-Index rises nearly 4 points thanks to bank stocks
ASEANSC’S VIEWPOINTS
On Friday (June 14th), although opening lower, however, the VN-Index regained the ground, and closed at its highs of the day as bank stocks rallied. By the closing bell, the VN-Index rose 3.53 points (+0,37%) to close at 953,61. Trading volume was nearly 160 million shares, worth VND3,400 billion. Breadth was positive, with gainers topping losers 145 to 130. Foreign investors net sold VND58 billion on the HSX, mainly in SBT.
In view of technical analysis, the VN-Index’s daily chart shows a green candlestick at the resistance range of 952 – 954, which is a sign of positivity. Therefore, we believe that, in a positive scenario, the VN-Index will test the nearest resistance level of 957, or MA200, at which investors can sell a part of the existing short-term portfolio. In a negative scenario, the nearest support range of VN-Index is forecast at 940 – 950, the next support range is expected at 920 – 930.
We recommend investors should not buy at high ask in this period, and consider reducing stock proportion in technical recovery sessions, especially when the current cash flow is very weak, and the risk of decline still exists. Based on Kelly formula, the recommended proportion of the portfolio is 90% cash/ 10% stocks.
Please see the attached file for more details.
Asean Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
Aseansc Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, Aseansc believes that our products would always be important sources of information for customers/investors’ investment decisions.
http://phbfm.top
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.