SHARP RETRACEMENT
Last week, the market, led by the VN30, continued its recovery efforts following the record sharp decline on March 9, 2026. However, as the index approached the 1,740 level, selling pressure intensified, leading to a reversal and a sharp drop of more than 51 points by the end of the week. This pushed the VN-Index back toward the March 9 bottom, which also coincides with the MA(200) zone at 1,648.The pressure stems not only from technical factors but also from negative macro developments. Oil prices surged to around USD 110 per barrel due to geopolitical tensions, while domestic deposit rates edged higher, increasing the equity risk premium and weighing on market liquidity.
At this stage, the VN-Index’s reaction around the MA(200) will be crucial for the short-term trend. A breakdown could send the index toward 1,575 – the November 2025 low – effectively erasing the prior uptrend. Conversely, holding this level may support a recovery toward the MA(20).
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