Bottom-fishing investors, FLC “family” stocks sold out, the market’s 6 consecutive losing sessions were stopped.

April 22, 2022 13:59 GMT+7

The price increase of a series of large and small stocks, especially small and medium cap stocks, quickly spread to the whole market. At 10 am, VN-Index increased by 18.01 points (1.31%) to reach 1,388.22 points. VN30-Index increased 24.3 points (1.7%) to 1,451.17 points.

Not stopping there, only about 20 minutes later, VN-Index increased by 23 points to surpass the resistance level of 1,390 points, reaching 1,392 points.

Unexpectedly, the group of stocks belonging to Mr. Trinh Van Quyet’s “family” of FLC simultaneously hit the ceiling price, including: FLC, HAI, KLF, AMD, ART, ROS and all had no oversold conditions.

However, the cash flow still said no to the group of stocks belonging to the “family” of Louis of Mr. Do Thanh Nhan when BII shares of Louis Holdings continued to fall to the floor but no buyers. The same situation also happened with shares of TGG of Louis Capital, AGM of An Giang Import-Export JSC, SMT of Sametel JSC. Meanwhile, APG shares of APG Securities JSC decreased by 4.5%.

TVB shares of Tri Viet Securities, the company whose CEO is involved in making stock price of Mr. Do Thanh Nhan also fell to the floor for the second consecutive session while being traded at 11,350 VND/share.

In this morning session, banking and real estate stocks prospered again and created traction for the market. Stocks ACB, BID, CTG, HDB, MBB, STB, TCB, VCB, VPB, TPB although none of them hit the ceiling price, they all traded in green.

Meanwhile, NVL, VIC, VRE, VHM, HPG are also being traded with very positive movements.

In fact, bottom-fishing demand appeared since the end of yesterday and appeared more strongly in VN30 group, helping VN-Index to narrow the drop.

Before entering today’s session, SSI Securities Company also stated that the current recovery is still likely to continue, however, the VN-Index has to face and retest the strong resistance area. 1,400 – 1,425 points in the coming sessions. Meanwhile, 1,380 – 1,368 points is the nearest support zone on the index.

In terms of valuation, the P/E of VN-Index after yesterday session is about 16 times, approximately the 5-year average. Meanwhile, VN30’s P/E is only 15.1 times, lower than the 5-year average. With the above valuation, analysts predict that a strong market drop is unlikely and in the last trading session of the week of April 22, VN-Index can still recover if the support level is reached. support 1,350 points is maintained.

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