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After the falling session due to profit taking pressure, VnIndex rebounded

After the falling session due to profit taking pressure, VnIndex rebounded

Thursday 14, 11 2019
Although many analysts are quite optimistic about the medium and long-term stock market, VnIndex is still facing short-term profit-taking selling pressure of investors.
The session on November 13 was quite positive right from the opening minutes, but the selling pressure increased sharply right after that, causing VN-Index quickly turned down, the red maintained throughout the rest of the session. With the strong decline of VnIndex yesterday, investors became more cautious when trading.

It can be seen that if VnIndex surpasses the point of 1,000, the selling pressure of short-term profit-taking has increased while the demand for absorbing is not large, so investors should be more cautious with adjustments in this period. Waiting patiently for a clearer trend can be a good choice for portfolio security.

In a recent judgment, SSI Research forecasts that the VN-Index will likely move above the threshold of 1,000 points in November and assuming no negative movements from foreign capital flows, the sideways and upward trend may be maintained until the end of the year.
Meanwhile, MBS stated that the short correction phase of the school has not ended with the VN-Index has lost the support level around 1,017 points. Currently, the support area of the index is at 1.006 points - 1.009 points (where the 20-day MA20 and Fibo78.6% converge). In case bad things happen, if the market penetrates this support zone, it might drop to the support level of 1,000 points.

This morning, many stocks recovered and pushed VnIndex up by nearly 2 points. There was no sudden change in liquidity as the buyers were not in a hurry in the context that VnIndex was under profit taking pressure.

This morning VNM increased slightly after yesterday's decline. Yesterday, the international market received information that the largest dairy company in the US filed for bankruptcy. The pessimistic view that the dairy industry is facing difficulties and the optimistic side sees Vinamilk's opportunities in the US market will be much better when the big player stops the game.
TienB's TTB dropped to the floor again today, increasing the number of floor sessions to 5 in a row.

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