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VN-Index Bounces Back After A Three-Day Lose Streak

The Asian stock market spiked on Monday, regaining some of the huge losses set in the last trading session.

 

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After losing 1.25% last Friday, HÀ NỘI’s VN index on the Ho Chi Minh Stock Exchange (HoSE) went up by 12.17 points or 1% closing at 1,224.17 points. VN index was able to bounce back after three days of downtrend. 

On the southern exchange, the market’s breadth was positive with 194 gainers surpassing fallers by 121. 

Liquidity remained robust, exceeding VND 20 trillion. However, it sharply declined by over 50% compared to the previous trading session. In particular, trading volume on the HoSE dropped by 52.3% to nearly VND 21 trillion, equivalent to a trading volume of over 889.7 million shares. The index’s reversal was primarily fueled by the growing large-cap stocks from various industries such as banking, manufacturing, and information technology sectors. 

Meanwhile, the VN30-index which tracks the 30 largest stocks on HoSE went up by 10.22 points or 0.84% closing at 1,233.31 points. In this index, 19 stocks experienced gains, eight declined and three stayed unchanged. 

Technical Analysis of VN index

VN index locks at 1237.46 today, February 27 showing a neutral phase based on the following indicators: RSI stands at 72.86 (neutral), MACD is at 19.52 (buy), SO is at 79.24 (neutral), CCI is at 111.08 (neutral), ADI at 36.25 (Neutral), AO at 43.49 (neutral), Momentum at 48.98 (buy) and Williamson %R is at -4.28 (neutral).

Although the market is showing signs of a neutral phase, the momentum MACD indicators still suggest a potential upward momentum. In this case, traders need to keep an eye on price movements for potential entry points especially in light of the buy signals from the momentum and MACD indicators.

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Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
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