[Market News 03/06/2024] STRONG EXPORT GROUPS (STEEL, TEXTILES, SEAFOOD) ARE BEING ACTIVELY BOUGHT BY INVESTORS

Some important notes:

– The index is still above the dynamic support level MA(50) around 1,250 points. However, with flat MA lines as currently, technically, looking at MA indicators will have little meaning.

– A Failure Swing is gradually forming in the support area, and if the market rises again tomorrow, we will have a nice short-term accumulation pattern.

– The market experienced some strong selling pressure in the securities and real estate sectors, but selling pressure in the real estate sector is trending down as it hit a strong support zone for this group in the recent period. The intraday recovery effort of the securities group has not created a good effect, while profit-taking pressure is appearing in some mid-cap and small-cap stocks after a period of strong growth, causing the market to lack breakout momentum. Foreign investors focusing on selling into the VN30 group, including banking stocks, may cause the index to correct downwards, however, we can expect banking groups like CTG, VCB, which are in support zones, to receive renewed buying interest along with MSN and MWG, which could turn around negative investor sentiment at this time.

– Index forecast for June 3, 2024: Statistics show the index will adjust downwards.

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SOURCE: AAS RESEARCH

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