[Market news 13/08/2024] THE RISK CYCLE STILL CONTINUES

Some important notes:

– Since the information about VJC being sued and having to pay 270 million USD in compensation, foreign investors have continuously net-sold this stock. In the past month, foreign investors have had an increasing number of net-buying sessions, however, the value of net-selling days is usually larger than that of net-buying days. Nevertheless, due to significant net-selling in the past few months, we see that the net-selling pressure is gradually decreasing.

– This type of market could last for a few days or a few weeks before entering a stable phase. Overall, we are seeing positive progress, especially today, with a dominant number of rising and ceiling-hitting stocks. For now, the resistance will be the 1,240-point area, which will show us whether this recovery is a bull trap or if a momentum-driven breakout day will occur.

– The market continues to maintain price rotation with the transportation sector driving prices up yesterday. We observe that many stock codes are gradually forming double-bottom patterns, positive divergence patterns signaling a reversal, or ABC correction patterns of wave 4.

– Basically, the number of codes with positive charts is trending upwards. As long as the risk rotation continues to appear, opportunities will open up for investors.

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SOURCE: AAS RESEARCH

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