The enthusiastic upward momentum in the morning triggered short-term profit-taking trades in the afternoon, creating noticeable pressure. The VN Index once again climbed close to the 1300-point mark, and a defensive stance resurfaced.
The volume of successfully bottom-fishing trades over the past few days, along with the volume of trapped trades in the 1300-point region, was released, putting downward pressure on most stocks, including the strongest ones. In such sessions, the range of price suppression, along with large or small volume, reflects the resistance.
Many stocks fell below the reference price by the afternoon; such stocks are weak, at least for this session. The rest needs to observe how much the green price region is suppressed and the ability of buying money to defend.
With the “original 1300-point” statement, the 3-session bounce is still considered a “test” of the peak again, and it is unclear whether there will be a breakthrough. Therefore, it is normal to take short-term profits or reduce holdings.
Today’s focus was on the highly concentrated cash flow, and stocks with higher-than-average liquidity, along with a strong price range and a slight price retreat from the peak, are robust stocks that can absorb short-term goods well. Stocks are diversifying in strength as cash flow has not spread widely. The blue-chip group showed better money-attracting signals, maintaining more stable prices than midcap and penny stocks. This is reasonable because large cash flows usually choose blue-chip stocks or stocks with sufficient liquidity to operate.
The market is still in the testing phase of supply on the uptrend and in the old peak area. Note that the VN Index is not homogeneous with stocks, and the peak of the VN Index is not the peak of the stock. Therefore, many codes were actually sold today, not because they were at their peak at all, but because of the psychological chain reaction when the VN Index approached the old peak. Therefore, transactions should observe the specific floor price of the stock.
Still holding the view that the market is positive, stocks that have risen rapidly in recent days may slow down a bit, and those that are still forming the foundation, the price bounces down due to general psychological pressure, can be bought more. In sessions like today, healthy stocks are exposed, and a good portfolio is unaffected.
Today’s derivatives market was difficult to profit from, although the VN30 index rose quite strongly, but most of the increase was at the jump at the beginning of the session, while the intraday fluctuations during the session were very narrow, but the basis differed quite widely. The points where VN30 exceeded 1367.xx were ineffective for Long, and the breaking points of 1367.xx were not paid the corresponding basis.
The profit-taking session this afternoon created different effects, and purely looking at the VN Index showed signs of weakness, but many stocks remained strong. Cash flow into blue-chips is good, and large-cap stocks are still supportive. VN30 is much stronger than VN Index. The strategy is still to buy stocks, Long/Short flexibly with derivatives.
VN30 closed today at 1360.58. The nearest resistance for tomorrow is 1368; 1376; 1380; 1388. Support 1357; 1348; 1341; 1333.
“Stock Blog” is personal and does not represent the opinion of VnEconomy. The views and evaluations are of the individual investor, and VnEconomy respects the author’s point of view and writing style. VnEconomy and the author are not responsible for any issues arising from the investment opinions and views posted.
