20160520_BSC Daily Review_EN_Looking for technical recovery

Summary
The correction continued today when VN-Index (-0.71%) decreased slightly, however, market liquidity was improved with significant rise in value (+ 23.4%) along with a decline in volume ( -1.86%). The change in liquidity was caused by the put-through trades in VIC and VNM. Most of bluechips were corrected such as BVH (-3.3 %), bank stocks CTG (-1.1%), BID(-1.6%), VCB (- 1.5%) and especially VIC (- 3.7 %). Foreigners continued net selling on HOSE.
 
Both HNX-Index (-0.07%) and Upcom (-0.04%) went down insignificantly. But, while the volume doubled with an increased value (+25.1%) on Upcom, the opposite is true on HNX where both volume (-23.19%) and value (-22.95%) fell.


Recommendation
Market broke through supporting level of 620 points as the weak demand caused by the foreigner withdrawal but VN-Index still stays in safe zone. There is a possibility for a technical recovery to test the resistance level of 625 points with the support from possitive news. 
Using technical recovery, investors might reduce the proportion of stock when market reaches 625 points