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Sell positions on VN30F2310 should be held and stop the loss when there is the closing price above 1,160 pts level (Hourly time frame).

Sell positions on VN30F2310 should be held and stop the loss when there is the closing price above 1,160 pts level (Hourly time frame).

The stock market recoveries slightly during the session with low liquidity, showing investors’ sentiment is still quite cautious. The downside risk is still intact as the VNIndex maintains to end below the 50-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.

Short-term correction period is confirmed and the bullish swing could not come back in the short-term. Besides, market leg is still unclear and demand is weak. Thus, investors should stay on the sidelines and wait for more valid signal for the upcoming trend.

At the end of the third quarter of 2023, the VNIndex established a shorterm downtrend, targeting a range of 1,050 1,070 points, influenced by the double top pattern. We predict economic activities to accelerate in 4Q23 with a growth rate of 7.5% YoY, resulting in an increase of 5.18% YoY for 2023. of 7.5% YoY, resulting in an increase of 5.18% YoY for 2023. On the upside, we expect an impressive turnaround in exports due to the increasing demand from the U.S. and China, especially the inventories of U.S. wholesalers and retailers becoming leaner. The Banking industry could sustain in 3Q23 but we are not confident about 4Q23 given the sluggish credit growth and slower than expected NIM recovery

Sell positions on VN30F2310 should be held and stop the loss when there is the closing price above 1,160 pts level (Hourly time frame).

Selling pressure comes back in the afternoon, causing the stock market to have a deep loss session and approach the important support zone of 1,080-1,100 pts. However, the liquidity is still at a low level, indicating selling pressure has decreased significantly, compared to previous deep decline sessions. The downside risk is intact due to the VNIndex maintain end below the 50-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.

Demand comes back at the important support level of the 1,100-pts threshold, helping the stock market increase again. However, the liquidity is only recorded at a low level, showing inflow is still weak and investors’ cautious sentiment toward the market. The downside risk is intact due to the VNIndex maintain end below the 50-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.

Sell VN30F2310 after ATO session and stop the loss when there is the closing price above 1,160 pts level (Hourly time frame).

Selling pressure intensifies suddenly during the session, causing the stock market to experience a deep loss day again with improved significant liquidity. Besides, the VNIndex still closes above the 50-period moving average, showing the downside risk is intact. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.