20160329_BSC_Vietnam Daily Review_EN_Necessary observation at the support of 562 pts

Summary

In contrast to yesterday's movements, VN-Index and HNX-Index closed in red with a significant decrease in amplitude. VN-Index lost 570 points, due to the downward pressure on oil and gas and banks stocks. This influenced the market sentiment, leading to high selling pressure at the end of the afternoon session. Foreigners were net sellers on the HSX and HNX today, however if excluding the net selling activities of EVE, they are still net buyers on the HSX. On UPCOM, foreign investors remain the net buying pressure, mainly in GEX.

Recommendation

Market trends are worsening. In short term, we recommend investors to observe the reaction of VN-Index based on technical signals at the support level of 560-562 points. Investors consider selling out and staying out of the market if VN-Index pierces the support level at 560 points with large volumes. Conversely, if VN-Index tests successfully at 560 points, investors can venture buying and selling out quickly at a profit.

Company updates

VSC - Vietnam Container Shipping JSC (HSX)

Stock recommendations

CANSLIM portfolio: Take profit VIC