Market Update [November 13] – Fishery and textile stocks outperform market

13/11/2018 17:13

Report: Market Update
Source: ASEANSC
ASEANSC’S VIEWPOINTS

On Tuesday (November 13th), although the index dropped sharply, however, fishery and textile stocks still traded higher thanks to positive news from CPTTP agreement. In addition, SAB, BVH and BHN were the large-cap gainers, helping trim the losses.

By the closing bell, the VN-Index lost 12.74 points (-1.39%) to close at 905.38. Trading volume was over to 170 million shares, worth VND3,600 billion. Breadth was widely negative, with losers topping gainers 194 to 99. Foreign investors net sold nearly VND77 billion on the HSX.

In view of technical analysis, the VN-Index’s chart shows a green candlestick called “Inverted hammer”, is quite positive. Therefore, we believe that, in a positive scenario, the VN-Index will test the nearest resistance range of 910 – 920, at which investors can sell a part of the existing short-term portfolio. In a negative scenario, the nearest support range of VN-Index is forecast at 890 – 900, the next support range is expected at 870 – 880. Based on Kelly formula, the recommended proportion of the portfolio is 90% cash/ 10% stocks.

Please see the attached file for more details.