MARKET INSIGHTS_24112022

MARKET PULSE

The VN-Index closed forming a “White Candle” trading pattern. Trading volume increased and remained below the 20-day average. Price increase with volume increase is a good sign on a day when most of the market was under selling pressure and traded below the reference price.

Key points to note: (i) After touching the MA(20) resistance, the VN-Index corrected, giving the feeling that the October and November patterns would repeat. Currently, we are seeing better trading than the previous two times, which somewhat creates more reassurance in the current investment sentiment. (ii) The market showed broad participation with steel, banking, securities, and real estate sectors trading well. This group has the potential to lead market sentiment.

According to the “Price Action” analysis method for VN30, we have 13 codes showing buy signals, 05 codes showing sell signals, and 12 codes showing sideways signals. The banking sector shows positive signals.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 49% probability of increasing and a 51.61% probability of the closing price being higher than the opening price. Statistics show that the index will decrease in tomorrow’s trading, but we believe the market will increase. Resistance is 982 points. Support is 870 points.

Intraday Stock Support and Resistance (EOD)

Stocks with Surging Trading Volume Today

Watchlist for Tomorrow

Intraday Chart:

• ISM bottomed out 1.5 months before the market;
• Inflation is signaling a rapid cool-down;
• Decreasing government bond yields are a good sign for the stock market at this time;
• US M2 money supply is declining;

US Stock Market: With the current trend, we observe that market sentiment has shifted to a positive state. Furthermore, with limited upside, this is a golden period for the market to select investment codes that will generate very high returns.

Investors can download the full report via the following link:

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