20190903_BSC_Vietnam Daily Review_EN_Fluctuating around the reference level_TA_VCS_ Psychological resistance

Market outlook 
Back to trading after the holidays, VN-Index was somewhat gloomy when it soon dropped below the reference level due to increasing selling pressure on blue-chips such as VHM, GAS, SAB. In the afternoon, the fall was expanded when VIC, MSN, GAS continued under correcting pressure and the index dropped to support level of 980 points. The market had a fluctuating session following the general trend of the region when the 15% tax rate to about 112 billion USD of Chinese goods officially came into effect. Even so, President Trump said bilateral negotiations would still take place as planned in September.

Future contracts:
Future contracts decreased following downward movement of VN30. Investors should prioritize buying with target price around 890 points for medium-term contracts.
Covered warrants: In the trading session on September 03, 2019, the market was negative although the majority of underlying securities increased. Trading volume increased. VNM is accumulating around price range of 120-124. Liquidity increased, signaling possibility of short-term recovery. Technical indicators also show signs of upward correction, creating momentum for its coverred warrant to increase in the coming sessions.

Technical analysis: VCS_ Psychological resistance
(Please go to page 2 for buy/sell status of stocks and page 4 for Blue chip stocks information)

Highlights
• VN-Index -4.70 points, closed at 979.36. HNX-Index -0.91 points, closed at 101.40.
• Pulling up the index: VNM (+0.51); FPT (+0.12); VCB (+0.11); MWG (+0.09); BHN (+0.06).
• Pulling the index down: VIC (-0.48); MSN (-0.47); GAS (-0.45); HPG (-0.44); PLX (-0.27).
• The matched value of VN-Index reached 2,466.97 billion, -5.47% compared to the previous session.
• Amplitude is 6.59 points. The market has 85 gainers and 220 losers.
• Foreign investors' net selling value: 12.52 billion dong on HOSE, including VJC (31.38 billion), VRE (9.96 billion) and TNA (9.81 billion). Foreigners were net buyers on the HNX with a value of VND 91.27 billion.