Research Center

During the rigid price movement where trading signals are invalid, traders should continue to stay on the sidelines and wait for the range is broken to capture the big market leg.

In the short term, the downside risk is intact due to cautious market sentiment. Moreover, the 1,200-pts threshold is the strong resistance. Therefore, traders should be careful and wait for the next signal to confirm the current trend.

There is no signal for the bearish momentum in the medium- and long-term and we are still in the uptrend. Thus, investors should hold the current positions and the captured positions at the buy zone (1,000-1,080 pts) and take action only when the next market leg is clear or there is the valid breakout at 1,200 pts zone.

Based on the sharp contraction, the market sentiment has become cautious in the short term. Moreover, the 1,200-pts threshold is the strong resistance. Therefore, traders should be careful and wait for the next signal to confirm the current trend.

TCB 4Q20 NP beats our estimate by ~23% at VND3.95tn (+30.5% yoy and 28% qoq) given better-than-expected credit provision. For whole 2020, TCB earned a NP of VND12.3tn, up 22% yoy on a TOI of VND27tn, up 28% yoy. In the update, we lift our TP to VND47,000 and maintain BUY given more positive assumptions related to credit growth, assets quality, NIM and non –NII growth.

During the rigid price movement where trading signals are invalid, traders should stay on the sidelines and wait for the range is broken to capture the big market leg.

February showed a gloomy picture for the economic activity due to a long holiday. Export and production posted the first reduction since the pandemic, while CPI recorded the strongest increase in 8 years. For the outlook in March, we expect the well-controlled pandemic situation domestically and accelerating COVID-19 vaccines distribution globally will push economic growth back to expansionary.

Established in 2008, Clever Group, is specializing in digital marketing industry, focusing on providing digital marketing solutions, developing marketing big data and AI technology, cross-nation B2B e-commerce solution, Social Listening solutions.

Vinh Hoan announced business results in Jan 2021, which delivered optimistic yoy revenue growth. Vinh Hoan reached VND632bn revenue in Jan 2021 (+31.0% yoy), which was mainly premised by export revenue surge to China (+180.0% yoy), Europe (+32.0% yoy) and rest of world excluding the U.S., EU, China (+48.0% yoy).

Long positions captured at 1,183.5 pts should be closed when there is the closing price below 1,180 pts level (Hourly time frame). For new long positions, long VN30F2103 after ATO session and stop the loss when there is the closing price below 1,180 pts level. (Hourly time frame)