6PM Call: Market: Speculative chances exist if VNIndex is going down?
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Other stocks surged in today session despite movements of banking stocks. While the familiar banking leaders traded thinly, many mid and small cap stocks went up positively with more than 137 gainers compared to 92 losers in HSX. Considerably, some stocks broke out their past trading ranges with great momentum in today as GTN, VNG, DLG, PXS, VTO, TDH, BMI, CNG. Therefore, in HSX, VNMid became the most active index, increasing by 1.23% against the increase of 0.74% and 0.83% of VNIndex and VN30-Index respectively. Consequently, cash flows only focused on mid and small cap stocks so the total traded value in HSX further diminished with today decrease of 15% compared to yesterday figure. The wider market breadth did not attract more cash flows so we speculate that many traders realized profit at their low-cost stocks and did not open any new positions. These signals usually appear in the distribution phase of market. Given not strengthening in cash flows in next sessions, the imbalance in supply-demand would be inevitable so I think corrections in stock prices would be better for current market trend.
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