Market Overview Before the October 20 Session
After a sharp decline and the VN-Index losing the 1,700-point level, the outlook ahead of the October 20 session still leans toward caution. The index is hovering around the 1,690-point area, while the 1,700-1,710 zone has become a notable psychological resistance area. Weakening liquidity and continued net selling pressure from foreign investors remain factors weighing on short-term sentiment.
According to the previous session's closing data, the VNINDEX closed at 1,689.8 points, down 16.1 points, equivalent to -0.9%, with a trading volume of 519,290,379 units. The HNXINDEX fell to 257.9 points, down 1.2 points, equivalent to -0.5%, while the UPCOMINDEX remained unchanged at 125.0 points.
Notable Stocks on HOSE
Divergence continued to be evident among stocks with their own technical setups. On the upside, SMA rose 7.0%, COM rose 7.0%, and TNH rose 6.9%, making them the three standout gainers on HOSE. Conversely, KOS fell 6.9%, VPG fell 6.8%, and HAS fell 6.7%, showing that correction pressure still persists in some speculative and mid-cap stocks.
| Ticker | Change |
|---|---|
| SMA | +7.0% |
| COM | +7.0% |
| TNH | +6.9% |
| KOS | -6.9% |
| VPG | -6.8% |
| HAS | -6.7% |
Liquidity and Capital Flows
Liquidity was notably concentrated in a few large-cap stocks with high trading value. VIX led with 40.7 million units, followed by VPB with 30.8 million units and SHB with 30.7 million units. This reflects that capital continues to seek stocks capable of quick turnover, but it is not yet strong enough to create a sustainable recovery for the broader market.
Notable Technical Signals
Among the technical signals, CMF reached a composite score of 85.4, VLB scored 80.2, and VNZ scored 77.3, indicating that some stocks have maintained a positive trend foundation despite the overall market's weakness. Looking more broadly, TCX, TCB, HII, CLW, and BSI also maintain relatively solid composite scores, but the overall backdrop still calls for caution while liquidity has yet to improve noticeably.
| Ticker | Composite Score |
|---|---|
| CMF | 85.4 |
| VLB | 80.2 |
| VNZ | 77.3 |
HNX and UPCOM
On the other two exchanges, the HNXINDEX held at 257.9 points and the UPCOMINDEX at 125.0 points, showing a fluctuating pattern distinct from HOSE. On HNX, PPP rose 10.0% and PLC rose 9.5%, the two standout gainers, while on UPCOM, TNW and EFI both rose 15.0%. Even so, these gains remain selective rather than reflecting broad market consensus.
Outlook Ahead of the Session
The most likely scenario for the October 20 session is weak fluctuation early in the session, followed by a possible technical rebound if buying demand improves around the 1,690-point area. The nearest support zone for the VN-Index lies around 1,690 points, while short-term resistance remains in the 1,700-1,710 range. If liquidity fails to improve, the risk of retesting lower levels remains present.
From a market structure perspective, capital tends to flow into stocks with their own technical setups and good liquidity, while the leading group has yet to show a sufficiently strong consensus signal. Investors should therefore continue to closely monitor the VN-Index's movement around the current equilibrium zone and the reaction of capital flows at key technical thresholds.