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VN-Index could rise by 40 points this week since it has established a support level at around 1,300, brokerages said.
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The index fell by 1.22 percent last week to 1,313 points. During the period it fell all the way to 1,280 points, but huge buying helped it regain 1,300.
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Analysts at BIDV Securities Company said the fact that it has remained in the 1,300 range is a positive sign, and the index could rise to 1,350 soon.
They warned nevertheless that Covid-19 makes the market unpredictable.
KB Vietnam said the index has formed “two bottoms” and is likely to rise to 1,340.
But Vietcombank Securities was more circumspect, saying the index is likely to fluctuate in a 20-point range around 1,300 since there is no fresh news to drive it up.
“Investors are still reluctant to buy since the Covid-19 situation remains complicated.”
It advised investors to continue to watch the market and buy in small quantities with priority on mid-cap stocks.
Source: VNexpress.