Vn-Index set to rise up to 1,340-1,350 this week
While there may be some fluctuation, the market may have entered its short-term recovery phase and moving to the resistance zone at 1,340.
Following two consecutive weeks on the decline, experts believe opportunities have arisen for the benchmark Vn-Index to rise up to around 1,340-1,350 this week.
| Investors at a securities company in Hanoi. Photo: Tran Quynh |
The Vn-Index closed the final trading session last Friday at 1,313.2, down 1.22% against the previous week. While there had been times when the index fell below the 1,300-mark, the capital inflows returned and kept Vn-Index over 1,300.
BIDV Securities Company (BSC) noted data from the past five sessions demonstrated the 1.300-mark to remain a short-term supporting zone in this period.
“Strong capital inflows in the last Friday session signaled an upward trend of the market towards 1,350,” stated the BSC, but also warned the Covid-19 situation may exert negative impacts on the market.
Sharing a similar view, KB Securities Company (KBSC) also expected a positive week for the market.
“While there may be some fluctuation, the market may have entered its short-term recovery phase and moving to the resistance zone at 1,340,” stated the KBSC.
Vietcombank Securities Company (VCBS) said while there may be concerns that the Vn-Index has been on the decline for the past two weeks, the index was still able to stay around the 1,300-mark. “This lays the platform for the market to move forward,” added the VCBS, while acknowledging the lack of supporting information may limit the improvement.
“The Government has reaffirmed its commitment to ensuring macro-economic stability in 2021, but investor sentiment remains cautious at a time when the pandemic continues to be serious,” stated the VCBS. The securities company advised investors to remain cautious and follow the market situation before making a purchase decision.
