MARKET INSIGHTS_16112022

MARKET PULSE

The VN-Index closed the trading session forming a “Long White Candle” pattern. Trading volume increased sharply and was above the 20-day average. Strong liquidity, reaching nearly 1 billion shares, is a good sign. This indicates that the market has met most of the margin call supply, which is necessary at this time. The market needs to be balanced with ups and downs, rather than having trading blocked and liquidity turned off.

Key points to note: (i) RSI(14) is forming a bullish divergence pattern, signaling a reversal. (ii) Most stocks show a double bullish divergence, signaling a reversal. (iii) The widespread increase in points is not surprising as supply and demand have met. With high trading volume, theoretically, the market could recover in a V-shape to the 1,000-point level.

According to the “Price Action” analysis method for VN30, we have 09 codes giving buy signals, 01 code giving a sell signal, and 20 codes giving sideways signals. Banks… are showing 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 41.66% probability of the closing price being higher than the opening price. Statistics show that the index will trade indecisively tomorrow, but we hope the market will end with an increase. However, it is unlikely that the market will rise across the board as it did today. Resistance is 1,000 points. Support is 870 points..

Intraday Stock Support and Resistance (EOD)

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Intraday Chart:

• World population reaches 8 billion;

US Stock Market: The current trend is positive, the S&P 500 will head towards the 4,175-point region.

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