Stock market commentary on July 1: Weak trend continues to mainstream

However, the market may appear soon to recover when approaching this support area in the next few sessions.

The domestic market failed to protect the performance in the morning when it slipped in the last minutes of the afternoon, it was also the 6th consecutive decrease session of the VN-Index. 3 past.

At the close, the VN-Index fell 4.25 points to 825.11 points, of which the VN30 index fell 4.28 points to 770.53 points. Market breadth was on the selling side, the whole market had 138 gainers / 237 losers, in the VN30 basket, there were 5 gainers, 22 losers and three hold stocks.

The liquidity in this session has decreased compared to the previous session but still remained high with the matched price of nearly VND 4,057 billion. Foreign investors’ trade was not very positive as it continued seeing a net selling for the 4th session in a row with a total value of 36 billion dong.

Here are the comments of the securities companies on July 1:

Source: MB Securities

MB Securities Joint Stock Company (MBS)

The market’s downward trend has spread to the 6th session in a row, both domestic and foreign information hardly affected the market. The continuous fall of the market made technical indicators worse, the MA100 support level is quite fragile.

However, there is a technical recovery in the remaining sessions of this week. Stocks which have plummeted since the short-term peak (900 points) will be the address of cash flow.

Bao Viet Securities Corporation (BVSC)

The short-term downward pressure of the market still exists and the VN-Index is likely to continue to retest to test the strong support range of 780 – 820 points.

The current negative point is still the announcement period of second quarter business results of listed companies. The effects of the Covid19 epidemic can make businesses less profitable.

BIDV Securities Securities Joint Stock Company (BSC)

The liquidity in the market decreased slightly, the amplitude of fluctuations narrowed and the market breadth was negative, indicating that the correcting trend is weakening. VN-Index is likely to move in the area of 825 – 850 points in the coming sessions.

Rong Viet Securities Joint Stock Company (VDS)

Although the VN-Index is at the support MA (100), the market still failed to recover and the weakening trend is still leading. Today is the last day of the second quarter, the closing date for the next restructuring phase of the HOSE index and the NAV closing of some investment funds, so the trading move had some abnormalities.

Therefore, investors should temporarily monitor the market’s movements at the current support level and still have a chance for a small recovery phase of the market.

Investors should only consider the statements of securities companies as a reference source. Securities companies all recommend disclaiming liability for these statements.

Source: vietnambiz.vn

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