[Market News 28/02/2024] WITH EVERY DECLINE AND REBOUND, MANY STOCKS ALWAYS SET NEW HIGHS

Some important notes:

– After a relatively good session, the index immediately saw two strong gaining sessions. The decline only fell to the support area of 1,210 points, indicating positive buying interest.
– Similar to the previous period, after each correction, a group of stocks will break new highs after a sideways trend. This time, we are seeing the seafood group (ANV, VHC) and steel (HPG), chemicals (DGC)… Thus, this is also a trend that creates a strong ripple effect of capital flow in the market.
– Foreign investors returning to net buying in the last two sessions is also a good sign. Recently, stocks with net foreign buying tend to increase, and those with net foreign selling tend to decrease. HPG today is an example of this trend.

– The recent exchange rate is a noteworthy issue as USD/VND on the interbank market has touched 24,700 VND (still lower than the 24,900 VND mark of 2022). Although it creates some pressure, we believe that risk factors have not yet appeared because a slight devaluation also partly supports export growth, and there are no signs that the SBV will change its loose monetary policy.

– Index forecast for February 28, 2024: Statistics show that the index will gain points, but the closing price will be lower than the opening price.

– Recommended stocks: ANV, GAS, NTP.

– We sent updates for PVS, ANV, CTR, PVD via customer email.

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SOURCE: AAS RESEARCH