Research Center

The VNIndex closed below the 1,100-pts, confirmed the short-term downtrend. Thus, traders should reduce long positions and wait for the next signals.

Based on data as of 26 Jan 2020, we expect that Local Vietnam ETFs, such as E1VFVN30 ETF, SSIAM VNFIN LEAD ETF, and VFMVN DIAMOND ETF, will sell TCB, CTG, and EIB the most with 7.2 million, 4.2 million, and 3.3 million shares. On the buy side, TPB, MBB, and STB will be bought heavily with 6.8 million, 3.0 million, and 2.0 million shares.

The VNIndex retests the last bottom of 1,120-pts because of the selling pressure on large-cap stocks. That implies the downside risk is still intact in the short term. Thus, traders should reduce long positions and wait for the next signals.

In the short term, the downside risk is still intact due to the high selling pressure at the 1,200-pts threshold of the VNIndex. Thus, traders should reduce long positions and wait for the next signals.

Last week, selling activities turned back to the normal level but continued to overwhelm. Breaking down by sectors, selling activities mainly absorbed by Materials and Financials whilst Real Estate continued to attract the most foreign demand across the market. Regarding to ETF flow, Vietnam maintained the positive flow of money thanks to VFMVN Diamond ETF and X FTSE Vietnam which attracted the total of USD6.3mn last week.

In spite of the recovery, the short-term downside risk is still intact due to the selling pressure at the 1,200-pts threshold of the VNIndex. Thus, traders should reduce long positions and wait for the next signals.

As mentioned above, the short-term uptrend may reverse to go down due to the high selling pressure on large cap stock. Thus, investors should reduce their long positions and wait for the next signals.

Despite the bullish market, the downside risk is still intact in the short term as the selling pressure at the 1,200-pts threshold of the VNIndex. Thus, traders should reduce long positions and wait for the next signals.

Despite the gaining session, the downside risk is still intact in the short term. Thus, traders should reduce long positions and wait for the next signals.