MARKET INSIGHTS_26082024

SUMMARY OF SOME KEY POINTS IN THE REPORT

The VN-Index is facing a resistance line connecting the two peaks of 12/06/2024 and 09/07/2024. The appearance of a red adjustment candle in this area is understandable. Additionally, the VN-Index still has a price gap from 19/08/2024 that has not been filled, so we believe the index may experience a correction in the next 2-3 sessions to fill the created price gap. Basically, a cup-and-handle pattern could form on a weekly basis. This is consistent with the re-accumulation cycle due to the market’s V-shaped recovery.

Regarding cash flow, today we see the securities group, with HCM still being the best-performing stock in the securities sector, setting a new 52-week high. This trend is repeating a past pattern where, whenever the market starts an uptrend, HCM and VCI are the most prominent stocks in the securities industry.

According to the “Price Action” analysis method for VN30, we have 08 codes giving buy signals, 15 codes giving sell signals, and 07 codes giving sideways signals. VRE, VPB, SSI, BVH, VHM… are giving positive signals.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 50% probability of increasing and a 42.85% probability of the closing price being higher than the opening price. Based on statistics, the index’s trading direction (up or down) is unclear with the closing price being higher or lower than the opening price on Tuesday’s trading session. Support is 1,256 points and resistance is 1,300 points.

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