[Market News 30/05/2024] REAL ESTATE GROUP IS SHOWING LOW PROFITABILITY
![[Market News 30/05/2024] REAL ESTATE GROUP IS SHOWING LOW PROFITABILITY 1](/Content/Upload/images/(3)%20500x320_Zalo%20Cover%20OA%20_LIte_30052024.png)
Some important notes:
– With yesterday’s decline, the upper band is trending sideways. This will hinder the index’s upward momentum. As shared in yesterday’s report, our view is that resistance remains resistance until it is broken, no matter how well we traded before.
– The market experienced some strong selling pressure in the securities and real estate sectors. These are inherently high-valuation sectors lacking good information on business results, except for some specific real estate stocks like TCH, NTL… Coupled with foreign investors focusing on selling into the VN30 group, including banking stocks, this could cause the index to correct downwards, even if a few promising sectors like transportation see price increases, as these are only mid-cap groups.
– Forecast for May 30, 2024: Statistics show the index declining.
– Some notes: We see selling pressure remaining high, and investors need to place profit-locking orders.
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SOURCE: AAS RESEARCH
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