MARKET INSIGHTS_06072022

MARKET PULSE

The VN-Index closed the trading session forming a “Long Black Candle” pattern. Trading volume increased and returned to the 20-day average. The price decrease with decreasing volume did not create a clear confirmation signal of negative selling pressure when the index broke support. However, overall, we had a negative trading day.

Key points to note: (i) Regarding the pattern, the VN-Index broke the 1,150-point support, but the lower band has not yet opened, which could hinder a sharp decline in the index. (ii) Both ETFs and proprietary trading desks selling caused the index to fall faster due to large-cap stocks hitting the floor. However, typically, strong capital withdrawal cycles only last 2-3 trading sessions. (iii) The next strong support level for the model is the 1,080-point region.

According to the “Price Action” analysis method for VN30, we have 04 codes giving buy signals, 11 codes giving sell signals, and 15 codes giving sideways signals. The VINCOM group had a negative trading day.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 48% probability of increasing and a 56.25% probability of the closing price being higher than the opening price. Statistics show that the index will decrease in tomorrow’s trading session. Bottom-fishing demand will continue to increase tomorrow. Resistance is at 1,250 points and support is at 1,080 points. Short-term support according to the model is 1,042 points.

Intraday Stock Support and Resistance (EOD)

Stocks with a Surge in Intraday Trading Volume

Stocks of Interest for Tomorrow

Intraday Chart:

• How much India and China spend on Russian oil;

US Stock Market: Forecast for tonight is that indices will continue to rise.

Investors can download the full report via the following link:

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