MARKET INSIGHTS_21122022

MARKET PULSE

The VN-Index closed trading forming a “Three outside down pattern”. Trading volume increased and was above the 20-day average. Falling prices with increasing volume is a negative signal.

Key points to note: (i) The MA(50) support took effect and the market formed a hammer candlestick, although it has not yet truly confirmed a potential reversal for tomorrow’s session. (ii) The market’s trading pattern is repeating the April 2020 pattern. If history repeats itself, this is a period of stock accumulation and a correction is also necessary. (iii) Cash flow is still circulating well and is highly differentiated.

According to the “Price Action” analysis method for VN30, we have 02 codes showing buy signals, 10 codes showing sell signals, and 18 codes showing sideways signals. VJC, SBT… show 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 an 85.7% probability of the closing price being higher than the opening price. Statistics show that the index will trade indecisively in tomorrow’s session. We forecast an increase in the index. Resistance is 1,100 points. Support is 1,015 points and strong support is in the 970-point region.

Intraday Stock Support and Resistance (EOD)

Stocks with Surging Trading Volume Today

Watchlist for Tomorrow

Intraday Chart:

• US Stock Market Performance Statistics Before Christmas Holiday;
• Japan raises 10-year government bond yield cap by 50 basis points;
• Cost of Christmas dinner;

US Stock Market: The current movement of the S&P 500 index shows a negative price pattern. Positive expectations are placed on the Santa Claus rally cycle. In 2022, we observed that each decline was often very sharp, and the index only stopped for no more than 3 rising candles. Therefore, in the short term, observing 3 candlesticks will confirm whether the main trend has changed or not?

Investors can download the full report via the following link:

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