Stocks Next Week: Correction Phase After Reaching Historical Peak

At the end of the first trading week of September, VN-Index stopped at 1,666 points, down 0.91% compared to the previous week - leaving the historical peak of 1,700 points. VN30 decreased to 1,845 points while HNX Index also retreated to 280 points.

Forecasting the stock market next week, Saigon - Hanoi Securities Company commented that the market has signals of creating a short-term peak at the beginning of September. Normally, after a period of strong growth, surpassing historical peaks, the market will have a period of adjustment, accumulation, and re-testing the historical peak that has been surpassed.

Therefore, investors should maintain a reasonable proportion. The investment target is towards codes with good fundamentals, leading in strategic industries, and outstanding growth of the economy .

Mr. Nguyen Tan Phong, Pinetree Securities Analyst, said that the Vietnamese stock market brought many surprises to investors in the first trading week of September.

Stocks next week: Entering a correction phase after reaching a historical peak.

Continuing the positive growth momentum in the week before the holiday, VN-Index opened the month with two consecutive sessions of gains. Cash flow shifted from banking stocks to other stocks such as steel, real estate, or midcap stocks.

However, while the market was in high spirits, having surpassed its all-time high and reached 1,711 points, in just the last 30 minutes of Friday afternoon, especially in ATC, the pressure of profit-taking caused the VN-Index to suddenly drop 40 points, even though no negative information was released.

Commenting on the trend next week, Mr. Phong predicted that, technically, the VN-Index will have support at the 1,645 point area and if it can hold at this level, the stock market may have a technical recovery and accumulate around the 1,670 point area of the VN-Index. However, in a more negative scenario if bad news is released, the VN-Index may have a correction to 1,580-1,600 points.

" Investors should proactively manage their portfolios, bring the stock ratio to a safe level and should not disburse new funds at the current stage. In addition to internal factors, investors also need to monitor international events that may affect the global stock market, and thereby affect Vietnam ," Mr. Phong noted.

Sharing the same view, Vietnam Construction Securities Company (CSI) also believes that VN-Index is trading at its historical peak, the probability of a correction after more than 4 months of increasing points is quite high.

According to CSI, in the last trading session of the week, with high selling pressure causing the VN-Index to fall deeply, erasing the increase in points of the previous 5 sessions, this is a strong warning sign that a correction trend may occur.

" With a cautious view, investors are not in a hurry to return to their net stock buying position soon, and continue to patiently wait for the balanced adjustment zone to have a safe buying point ," CSI Securities commented.

Meanwhile, BETA Securities Company believes that instead of worrying about the fluctuations, investors should consider this a "necessary break" to prepare for the next breakthrough opportunities.

The signs of liquidity slowing down are also a signal that cash flow is choosing and ready to shift to industries with long-term growth prospects. Therefore, the most reasonable strategy at this time is to maintain a cautious but flexible mindset: limit chasing high prices, prioritize selective disbursement into leading stocks. In addition, it is possible to reduce the proportion of stocks that have increased rapidly.

Experts from Asean Securities also believe that the market index will continue to fluctuate in the short term due to the influence of profit-taking supply, especially from foreign investors. The index's near support zone is the 1,630 - 1,650 area while the near resistance zone is 1,680 - 1,690 points.

With short-term trading, investors holding stocks should only maintain their current positions in stocks with safe capital values and strong upward momentum.

Meanwhile, investors with a high cash ratio can observe and wait for new disbursement points with leading stock groups. New purchases should only be made in a partial disbursement direction.

Ngoc Vy

Source: https://vtcnews.vn/chung-khoan-tuan-toi-giai-doan-dieu-chinh-sau-khi-dat-dinh-lich-su-ar964135.html