Research Center

Buy VN30F2104 if it has opening price higher 1,300-pts threshold and stop the loss when 1,280 pts level is pierced.

The economic condition continued going more favorable in April as production, trade, and consumption activities recover further compared to the same period last year. Besides, CPI upward pressure became softer this month when the uptrend in world commodity prices become less aggressive. Hence, we indicate that the macroeconomic conditions generally remain stable in this month.

The market sentiment has become optimistic thanks to the high demand on large-cap stocks. Moreover, the uptrend is still maintained in the wider time frame as well as 1,200 pts level will set the strong demand zone for the market. In this case, investors should buy leading stocks when VNIndex positively reacted with this area.

The current contraction is a consolidation in the long-term uptrend. Therefore, traders should hold the current positions and buy more on the first pullback (when the 1,200-pts zone is retested).

TCB 1Q21 controlling-interest NP reached VND4,397bn, up 79% yoy and 11.2% qoq with upbeat sound across all business lines. NIM kept expanding to 5.9% thanks to high CASA ratio and low deposit rates while non-interest income stream is still growing. Given that, 2021F NP is upgraded by 30% to VND18.4tn. We raise TP to VND50,400 and reaffirm BUY.

Based on the high demand on ATC session, the market sentiment has become optimistic in the short term. Moreover, the uptrend is still maintained in wider time frame as well as 1,200 pts level will set the strong demand zone for the market. In this case, investors should buy leading stocks when VNIndex positively reacted with this area.

Long VN30F2105 after ATO session and stop the loss when there is the closing price below 1,260 pts level (Hourly time frame).

Vinhomes reported an exciting 1Q21 revenue growth of 99.2% yoy to VND12.9tn mainly driven by the property revenue growth of 75.2% yoy to VND10tn, equivalent to 2,900 units handed in 1Q21. However, net profit growth was below at -21.2% yoy to VND5.4tn due to the absence of a VND8.3tn financial income from bulk sale transactions recorded in 1Q20.

The company sets moderate guidance of a VND1.2tn net profit, 4% yoy and VND4.8tn revenue, 6% yoy. The commence of delivery of Lovera Vista condo project (1,145 units) in tandem with the delivery of remaining Safira condo units drives the FY21F revenue growth. Per management, three projects could be launched to the housing market including 1) a 4.3ha townhouse project (158 units) in Dist 9, 2) a 5.7ha townhouse project in Dist 2 and 3) a 1.8ha condo project (1,100 units) in Binh Tan Dist

The collapse on Monday has confirmed the short-term correction phase as well as the followed consolidation phase has shown no signal for the rebound. However, uptrend is still maintained in wider time frame as well as 1,200 pts level will set the strong demand zone for the market. In this case, investors should buy leading stocks when VNIndex positively reacted with this area.