BSC - Vietnam Daily Monitor 2015.05.28 - Stronger profit-taking in next sessions

Summary

Market liquidity reached 2,210.6 million of unit, which was equivalent to VND 2,750 billion, up by 30% and at the highest in 2 months.

Despite of profit-taking pressure in the closing session, banking stocks and speculative ones rose sharply, pushing the index through its resistance level.

Foreign investors were the net buyers on the 9th consecutive session.

Recommendation

In short-term, market correction may soon occur when the index is approaching its strongest resistance at 580 pts. Cash flow is likely to circulate among groups of stocks and opportunities may appear in the shares that has not increased much.

We recommend that investor should reduce market exposure and gradually taking profit in high profitable gainers.