Research Center

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).

Foreign selling pressure came back. Selling activity focused on Real Estate, Consumer Staples, and Materials whilst Consumer Discretionary and Utilities attracted the most foreign demand. With ETF flow, Vietnam kept attracting the flow of money, mainly driven by the demand across SSIAM VNFIN Lead ETF and VFMVN Diamond ETF.

This quarterly earnings report on Vietnam steel production is intended to track the earning growth trend in the steel market. We think the demand growth outlook is still brisk in 4Q21 backed by 1) realized export opportunities in the U.S. and EU 2) the bounce back for domestic demand.

The VNIndex retests the last peak and maintains its uptrend in the short term because of closing above its significant moving averages and 1,400-pts threshold. 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 1,460 pts level (Hourly chart). For new long positions, traders could enter the long positions when there is the valid breakout at 1,540 pts level and stop the loss when there is the closing price below 1,520 pts level.

The upward resumption phase is still active. In this case, investors should continue to hold the current positions on leading stocks. On the contrary, positions should be closed by half if the 1,300 pts area is pierced.

Key focus areas are presale growth and its funding demand. Since lockdown prolonged until Nov that impedes the sales events, NVL aims to sell 7,000 units in 2021F, reducing 30% vs the initial plan. More than 2,000 units sold in 4Q21 could bring around VND15tn-20tn contract sale value, according to the management. Net debt/equity as of end-3Q21 increased to 0.98x from 0.96x as of end-2Q21. NVL’s leve rage ratio, which is significantly higher than average for developers (0.2x-0.4x), remains unhealthy in our view.

The captured long positions on VN30F2111 should not be closed and stop the loss when there is the closing price below 1,460 pts level (Hourly chart). For new long positions, traders could enter the long positions when there is the valid breakout at 1,540 pts level and stop the loss when there is the closing price below 1,520 pts level.

The VNIndex maintains its uptrend in the short term because the index closed above the significant moving average and 1,400-pts threshold. 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 1,460 pts level (Hourly chart). For new long positions, traders could enter the long positions when there is the valid breakout at 1,540 pts level and stop the loss when there is the closing price below 1,520 pts level.