Vietnam’s VN-Index Falls Below 1,740 as Brokerages Watch 1,730 Support
Vietnam’s VN-Index closed at 1,734.75 on November 12, down 12.15 points after failing to break through resistance near 1,750. More sectors fell than rose, and trading volume was low. Several brokerages said the index’s near-term direction depends on whether support around 1,730 holds.
On November 12, Vietnam’s VN-Index fell 12.15 points to close at 1,734.75, while the HNX-Index rose 0.89 points to 256.62. The VN-Index failed to break through resistance near 1,750 and closed near the day’s low.
According to BSC, 15 of 18 sectors declined. Information technology fell more than 2%, while oil and gas gained more than 1%. Foreign investors were net sellers on all three markets: HSX, HNX and UPCOM. BSC said the VN-Index remained within a symmetrical triangle pattern, with its trading range continuing to narrow and a price base forming around 1,725.
BSC said the VN-Index remained within a symmetrical triangle pattern, with its trading range narrowing and a price base forming around 1,725.（VietVance）
BVSC said the index’s upward trend remained intact, though momentum showed signs of weakening. It identified support at 1,720–1,730 and resistance at 1,755–1,765. TVS noted that trading volume was 17% below the average for the past 20 sessions and expected the index to consolidate within the 1,720–1,740 range over the next few sessions.
Brokerages differed in their outlook. SSI said a failure to hold the 1,730–1,735 area could extend the correction to 1,700–1,720. VCBS said the index could continue rising over the next few sessions after finding support near 1,735, though it could also fluctuate around that level. These are market views from securities firms.
Source: VietVance
