MARKET INSIGHTS_01042024
01/04/2024
SUMMARY OF SOME KEY POINTS IN THE REPORT
Foreign investors continued a net selling session of nearly 700 billion VND. Net selling focused on MSN, SSI, VNM, VCI, DGC, KBC, CTG... while net buying focused on the securities group, MWG, DIG, PDR, PVS, NVL, NLG, PVD, DXG, VGC... It is very difficult to determine when the current net selling cycle of foreign investors will end. From a cash flow perspective, if we consider the period from 2017 when foreign capital flowed strongly into the market, the scale of divestment might need to reach another 1 billion USD before it can stop. As long as net selling does not create new lows for investors when selling, the market's trading remains positive. Furthermore, as shared, the market's price increase momentum from 2020 until now has come from domestic investors' transactions.
A slight concern about the possibility that correction wave 4 has not ended and the index might retest the 1,240-point support, with strong volatility likely to occur according to the cycle. Any fluctuations at the beginning of April are buying opportunities for investors;
Power Master Plan VIII will promote the growth of stocks related to this industry in the medium and long term. Short- and medium-term beneficiaries include GEX, PC1 (currently facing exchange rate issues hindering profit growth), TV2... Medium-term beneficiaries include PVS, DGC, BCG, and businesses participating in power projects according to the plan, especially LNG gas power, biomass power, pumped-hydro storage, and battery storage power...
According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of increasing and a 60% probability of the closing price being higher than the opening price. Based on statistics, the index traded up with the closing price higher than the opening price on Monday's trading session. Resistance is 1,300 points. Support is 1,200 points.
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