The stock market is currently witnessing highly unpredictable developments, as the VN-Index remains under constant correction pressure. Liquidity has surged every time the index approaches its recent peak of around 1,300 points. Profit-taking before resistance After a significant recovery in the first week of July, with the VN-Index rising from 1,240 to above 1,280 points, the index fluctuated within a narrow range during the second week. Although it briefly neared 1,300 points again, profit-taking pressure has consistently built up as the VN-Index challenges this resistance level, which has been strong in the past two years. Large investors and internal shareholders will choose to take profits at high prices when the VN-Index approaches this resistance area. Since early July, there has been a trend of major shareholders and internal shareholders selling off their shares. For instance, at Thanh Cong Textile Garment Investment Trading Joint Stock Company (HOSE: TCM), where the stock price has rose to a two-year high, board member Nguyen Tuan Nghia has registered to sell seven million TCM shares between July 16 and August 14. This sale aims to reduce his ownership from 17.19 million to 10.19 million shares, or from more than 16.8% to 10%. Nghia is a […]
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