[Market News 11/06/2024] SUPERIOR PROFITABILITY LIES IN THE SHIPPING GROUP

Some important notes:

– The current trading activity seems similar to the VN-Index’s phase in the 1,130 region in December 2023, when the index struggled to overcome resistance and trading volume narrowed. Selling pressure was not too strong on the downside, and liquidity began to increase when the market broke through resistance. Today, the market is attempting a breakout led by the banking and steel sectors. Do we still hope history will repeat itself?

– From a medium-term perspective, the VN-Index has been moving in an inverse head and shoulders pattern since March, with the neckline confirmed at 1,292 points. A breakout would push the index towards the 1,400-point price range.

– It’s too early to conclude, but the current trading activity seems to be repeating the pattern at the 1,250-point mark, and perhaps we will soon see a breakout session in the next 2-3 sessions. Of course, as we have shared before, resistance remains resistance until it is broken. Therefore, despite positive thoughts, we should still trade cautiously.

– Index forecast for June 11, 2024: Statistics show the index increased with the closing price lower than the opening price.

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SOURCE: AAS RESEARCH