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In this situation, traders should hold their long position and focus on the leading sector because of the small rectangle pattern with the target price of 1,530-1,50 pts. Besides, the long-term uptrend is still intact. Hence, the contraction is the opportunity to accumulate stocks for long-term positions at significant supports such as the 1,450-pts threshold.

Based on the recovery, the VNIndex confirms a new rectangle pattern, showing the new target price for the pattern is a range of 1,530-1,550 pts, which same as target price of the symmetrical triangle pattern. Therefore, the traders should hold their long position and focus on leading stocks.

In the short term, the VNIndex approaches the target price of a small rectangle pattern at a range of 1,470-1,500 pts. Hence the index may maintain consolidation in some sessions. However, the long-term target price for the symmetrical triangle pattern is 1,530-1,550 pts. Therefore, the traders should hold their long position and focus on leading stocks.

Traders should stay on the sidelines and wait for the reaction of VN30F2111 at the 1,500 pts zone the determine the upcoming market trend.

The captured long positions on VN30F2111 should not be closed and stop the loss when there is the closing price below 1,520 pts level (Hourly chart).

The VNIndex may maintain consolidation in some sessions as the index approaches the target price of a small rectangle pattern at a range of 1,470-1,500 pts. However, the long-term uptrend is intact as the high target price of 1,530-1,550 pts for the symmetrical triangle pattern. Therefore, the traders should hold their long position and focus on leading stocks.

The captured long positions on VN30F2111 should not be closed and stop the loss when there is the closing price below 1,520 pts level (Hourly chart).

The VNIndex may maintain its contraction phase in some sessions as the index approaches the target price of a small rectangle pattern at a range of 1,470-1,500 pts. However, the long-term uptrend is intact as the high target price of 1,530-1,550 pts for the symmetrical triangle pattern. Therefore, the traders should hold their long position and focus on leading stocks.

A record plunge in Vietnam’s economy in 3Q21 has threatened economic prospects in the medium and long term growth. The government is standing in a right place to mitigate the lingering impact of the current outbreak and the next ones if they take appropriate actions in an appropriate timing and appropriate way. Recent macro and policy developments are signaling that the ongoing economic recovery would be smooth and sound, but it needs a booster shot, a sufficiently large fiscal relief package, to accelerate recovery momentum and help economic growth back on track. From our view, the “Economic Recovery and Development” fiscal support package, if successfully passed, would be a key to unlocking the full potential of the economic recovery.

The VNIndex approaches the target price of small rectangle pattern at a range of 1,470-1,500 pts. That implies the market may contract in some sessions. However, the long-term uptrend is intact as the high target price of 1,530-1,550 pts for the symmetrical triangle pattern. Therefore, the traders should hold their long position and focus on leading stocks.