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 mark, and a defensive stance has emerged.
The volume of successfully bottom-fishing trades over the past few days, along with the volume of trapped trades in the 1300 range, has been 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 need to observe how much the green price range is suppressed and the ability of buying money to defend.
With the “original 1300 points” 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, short-term profit-taking or reducing inventory is normal.
Today’s highlight is that the money flow is very focused, and stocks with higher-than-average liquidity, along with a strong price increase range, are healthy stocks that can absorb short-term goods well. Stocks are differentiating in strength as money flow has not spread widely. The blue-chip group has better money-attracting signals, more stable prices than midcap and penny stocks. This is reasonable because large money flows usually choose blue-chip stocks or stocks with sufficient liquidity to operate.
Currently, the market is still in the stage of testing supply in 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 that were sold off today are actually not peaks at all, but are psychologically influenced when the VN Index approaches the old peak. Therefore, observe the specific bottom price of the stock when trading.
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 bottom can be bought more when the price bounces down due to general psychological pressure. In sessions like today, healthy stocks are exposed, and a good portfolio is unaffected.
Today’s derivatives market is 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 break points of 1367.xx did not get the corresponding basis.
This afternoon’s profit-taking created uneven price effects; purely looking at the VN Index shows signs of weakness, but many stocks are still strong. Money flow into blue-chips is positive, and large-cap stocks are still supportive. VN30 is much stronger than VN Index. The strategy remains 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 is at 1357; 1348; 1341; 1333.
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