MARKET ANALYSIS FOR THE WEEK OF JANUARY 5-9, 2026
During the week of January 5-9, 2026, the VN-Index marked its fourth consecutive week of gains, decisively breaking through the previous peak from October 2025 and setting a new all-time high. Trading volume surged above the 20-week average, reflecting a significant improvement in liquidity and investor optimism.
The index’s adherence to the Upper Band of the Bollinger Bands, coupled with a renewed buy signal from the MACD, underscores the continued strength of the medium-term uptrend.
TECHNICAL ANALYSIS
Trend and Price Oscillation Analysis
VN-Index – New 52-Week High
In the trading session on January 9, 2026, the VN-Index experienced sideways movement, forming a small-bodied candlestick pattern with above-average trading volume, indicating investor hesitation. However, the index achieved a new 52-week high and remained close to the Upper Band of the Bollinger Bands, signaling persistent positive momentum.
Additionally, the MACD indicator continues to form higher highs and higher lows, further supporting the medium-term upward trajectory.
HNX-Index – Stochastic Oscillator Signals Buy
On January 9, 2026, the HNX-Index declined, forming a Big Black Candle pattern with above-average trading volume, reflecting continued investor pessimism. The index remains below the 200-day SMA, while the MACD continues to signal selling pressure and remains below zero, indicating a bearish medium-term outlook.
Conversely, the Stochastic Oscillator has formed a bullish divergence and is signaling a buy opportunity in the oversold region. If the indicator rises above this level in upcoming sessions, a short-term rebound is likely.
Liquidity Analysis
Smart Money Flow: The Negative Volume Index for the VN-Index is currently above the 20-day EMA. If this trend persists in the next session, the risk of a sudden downturn will diminish.
Foreign Investor Flow: Foreign investors continued to net buy in the session on January 9, 2026. Sustained buying by foreign investors in upcoming sessions would further enhance market optimism.
Technical Analysis Team, Vietstock Advisory Department
– 16:58 January 11, 2026
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Foreign investors initially sold off at the beginning of the week but returned to net buying by the end of the week.
Vietnam’s Stock Market Surges with 2.6 Million New Trading Accounts by 2025
By the end of 2025, individual investors held over 11.8 million accounts, representing approximately 11% of the population, surpassing the 2030 target ahead of schedule.
January 8th Stock Market Update: VCB Hits Ceiling, VN-Index Adjusts
The stock market on January 8th witnessed profit-taking pressure in the Vingroup sector, while “king” stocks provided support. As a result, the VN-Index corrected following yesterday’s heated rally.
Real Estate Stocks Hit Rock Bottom, Yet VN-Index Reaches New Highs
Today (January 9th), the VN-Index soared to a new peak, nearing the 1,870-point mark, driven by the strong performance of blue-chip stocks, notably state-owned banks. Conversely, a wave of sell-offs hit real estate stocks, sending many plummeting to their floor prices.
Unexpected Force Unloads Nearly VND 1.4 Trillion in Vietnamese Stocks on Final Trading Day, Heavily Selling Bank Shares
Proprietary trading desks at Vietnamese securities companies collectively offloaded a staggering VND 1.367 trillion worth of stocks on the Ho Chi Minh City Stock Exchange (HOSE) during the period in question.
