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August 10: VN-Index down early in morning session

Released at: 11:30, 10/08/2018 Stock Market Watch

August 10: VN-Index down early in morning session

Chart from vneconomy.vn

HNX and UPCoM also struggling early on.

by Hai Van

Early morning trade was quite slow on August 10 as foreign investors expressed some degree of caution.

By 10am, the VN-Index was down 2.68 points (0.28 per cent) to 960.92 points and the HNX-Index and the UPCoM-Index had also lost ground.

Bluechips such as VHM, VRE, VPB, GAS, MSN, CTG, and VIC fell slightly, with the market lacking momentum as a result. PVD, PVS, and PVB, after a correction yesterday, were unable to regain their momentum. Demand, however, remained quite strong.

HAG took profits at the beginning of the session and was close to its reference level, with matching orders soaring to 20 million units. HNG, meanwhile, continued to take profit and lost VND700.

Large caps BVH and VJC stemmed any possible major decline.

Saigon Hanoi Securities Inc (SHS)

The VN-Index adjusted slightly today, with matching volumes below the 20-day average of 156 million. Short-term technical indicators were positive, within the support range of 945-960 points (MA5-20) and below the psychological resistance level of 970 points.

Intermediate term technical indicators are supported by the resistance level of 1,020 points (MA100) and support at 961 points (MA50). Regarding the long-term trend, the VN-Index is currently in a bear market with a resistance level of 1,010 points (MA200).

It is predicted that in afternoon trade today the VN-Index may recover to 970 points.

Bao Viet Securities

Investors can raise portfolios to a maximum of 70 per cent. Some available positions are available for T+ trading. Adjusted rhythms are considered an opportunity to increase the proportion of the portfolio. The resistance level is at 980-1,000 points. The support of the index is at 942-947 points and 920-930 points.

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