Vietnam Insider presents the Market Watch newsletter dated December 11, 2023, with the latest financial insights:
On Friday, the VN-Index experienced a marginal increase, maintaining an average liquidity level and securing a close above the MA200 milestone at 1,118 points. Despite anticipated challenges in retesting this milestone, there is a 60% probability that the VN-Index will continue its upward trajectory towards the MA100 resistance at 1,155 points.
BCM has seen a boost in liquidity in recent sessions, leading the stock to surpass the MA50 resistance and form a bullish double-bottom pattern. Consider investing in BCM with a short-term target set at 72,500 (MA200) and a stop loss at 63,000.
MVIS has released the structural results for the MVSI MarketVector Vietnam Local Index basket. Notably, CEO will be added to the index basket, with no stocks being removed. These changes will take effect on Monday, December 18, 2023, following their application at the end of the day on Friday, December 15, 2023.
Fitch Ratings has upgraded Vietnam’s credit rating from BB to BB+ with a stable outlook, reflecting the country’s positive medium-term growth prospects. Fitch forecasts a 7% GDP growth in the medium term, driven by substantial foreign direct investment (FDI) inflows.
Derivatives Trading Strategy:
1. Comment:
The F2312 contract hovered around the resistance at 1,115 points, fluctuating within the range of 1,109-1,119 points. There is a prediction that F2312 might retest the 1,109 point mark before experiencing an upward movement. If it surpasses the 1,119 barrier, this contract could potentially reach the 1,125-1,135 range.
2. Strategy:
– Buy at 1,109 points
– Target (TP): 1,119 points
– Stop loss (SL) at 1,107 points.
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