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At 10:24 am, VnIndex was reversed and increased. From -14 points, currently, VnIndex has quickly recovered to +1 point. However, this appears to be a small bullish trap as the VN-Index has rapidly retreated to -4 points after gaining a bit of time. Liquidity on the 2 exchanges remained at a high level, more than VND 8.5 billion on the HoSE and VND 1.100 billion on the HNX at 10:30 ‘.
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At 10:11 am, the stock market showed signs of a slight recovery. VnIndex currently only lost 6 more points. However, investors should not act too hastily, but rather carefully consider whether this is a real recovery or just a bullish trap.
Although the entire market was in the red due to strong large-scale selling pressure, oil and gas stocks were instead increasing strongly thanks to international movements in oil prices. Yesterday, in the international market, oil prices rose to the highest level in more than a year after the Organization of the Petroleum Exporting Countries (OPEC) and its allies (called OPEC +) agreed to maintain the current production level. At the close of the session, Brent oil rose $ 2.67, or 4.2%, to $ 66.74 / barrel, previously to $ 67.75 / barrel, the highest since January 2020. Similarly, West Texas America oil (WTI ) closed the session with a rise of $ 2.55 (4.2%) to $ 63.83 / barrel, after also reaching a peak since January 2020 at 64.86 USD / barrel.
OPEC + suddenly maintained the decline in production, the price of oil soared to the highest level in over a year
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At the end of yesterday’s session, VnIndex rallied from -30 points to -18, but the recovery was halted by congestion at HoSE since the early afternoon yesterday. No one will respond without hindering the order, VnIndex may recover more or close worse, but after yesterday’s pullback, investors have gradually lost the expectation that VnIndex will exceed 1,200 points this time. Investors sell their shares hard when their expectations are not met, causing VnIndex to drop another 10 points today.
After the ATO session, the stock market gradually decreased from -5 points to -8 points and then to -14 points. The strong selling force sent many stocks plummeting. At 9.50 a.m. M., VnIndex currently lost more than 14 points and liquidity in HoSE was up to 3,000 million. The HNX also fell almost 2 points although yesterday it won strongly.
According to our observation, in the VN30 group, only POW was against the general market trend, bouncing strongly by 5.2%. PLX was also one of two rare stocks with slight price increases. Currently 28/30 shares of VN30 are traded in the red color where SBT, VRE, TPB are 3 shares with the deepest drop of more than 3%.
