Last week, the VN-Index recorded a trading session with large fluctuations after conquering 1,800 points and faced strong downward pressure in the last two trading sessions of the week. At the opening of the first trading session of the week, the stock market continued to see positive demand from large-cap stocks such as Vingroup and banking stocks, helping the VN-Index quickly extend its gains. The upward trend continued for the next two sessions, and the second half of the fifth trading session (December 25th) helped the VN-Index conquer a new peak of 1,800 points.

However, from the second half of Thursday afternoon's trading session (December 25th), the Vingroup stocks unexpectedly reversed course and fell to the floor price, causing the downtrend to spread to most stocks in the market, pushing the VN-Index down to around 1,750 points.

Foreign investors were net buyers last week, with a total value of VND 2,660 billion in the first four trading sessions, a significant increase compared to the same period the previous week.

In this morning's trading session, the VN-Index opened down 37 points from the reference point and quickly came under strong selling pressure from large-cap stocks such as Vingroup and bank stocks. The supply quickly spread to other sectors, causing the VN-Index to continue its decline below 1,700 points. The red dominated the market with 48 gainers and 261 losers. Liquidity increased slightly in this morning's session, but red continued to dominate, partly reflecting short-term selling pressure after yesterday's unexpected market reversal.

In the afternoon session, the VN-Index fluctuated around 1,690 before bottom-buying demand in banking and Vingroup stocks helped the VN-Index quickly recover to 1,700 points and return to 1,730 points in the latter half of the trading session and the ATC session. Notably, foreign investors reversed to strong net selling last week with a total value of over VND 1154.67 billion, focusing on selling VIC, VHM, and VRE.

At the close of last week's session, the VN-Index closed at 1,729.80 points, down 13.05 points, equivalent to 0.75%. For the week, the VN-Index increased by 25.49 points (1.50%) compared to the previous week.

The VN-Index closed the last week with a bearish hammer candlestick under strong selling pressure on large-cap stocks such as Vingroup and banks. On the daily chart, both the RSI and MACD indicators continue to trend downwards, and the VN-Index is hovering around the MA20 line, indicating that correction pressure persists and the index is retesting the support zone around 1,720 points. Therefore, there is a high probability that sideways trading will continue in the next session.

On the hourly chart, the VN-Index continues its strong recovery after breaking above the lower boundary of the Bollinger Band. Simultaneously, the RSI has formed its first bottom and continues to trend upwards, showing that recovery demand is being maintained in the market. The VN-Index is expected to find equilibrium around the 1,730-1,740 range in the coming trading sessions.

The VN-Index experienced significant volatility, correcting downwards to the 1,700 points, but quickly reversed course and moved upwards again thanks to bargain hunting in large-cap stocks that were at deep discount levels. Given the current market conditions, VCBS recommends that investors consider reducing their holdings in stocks experiencing strong selling pressure while monitoring market strength in the coming sessions and seeking opportunities to invest after the VN-Index stabilizes.