MARKET INSIGHTS_04072022

MARKET PULSE

The VN-Index closed the trading session forming a “Long Black Candle” trading pattern. Trading volume decreased and was below the 20-day average. A price decrease with a volume decrease is not an overly negative signal in technical models.

Key points to note: (i) Regarding the pattern, the VN-Index is establishing a sideways pattern with support around the 1,150-point area and resistance around the 1,250-point area. (ii) Selling pressure was not actually too significant despite the index’s decline. There were times when we saw supply dry up, and basically, the late-hour selling effect was mainly due to increased profit-taking demand. (iii) High Beta groups still traded better, indicating that the risk rotation continues.

According to the “Price Action” analysis method for VN30, we have 10 codes showing buy signals, 07 codes showing sell signals, and 13 codes showing sideways signals. The banking sector 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 68% probability of the closing price being higher than the opening price. Statistics show that the index will decrease in tomorrow’s trading session. Resistance is at the 1,250-point mark and support is at 1,150 points.

Intraday Stock Support and Resistance (EOD)

Stocks with Unusual Trading Volume Today

Watchlist for Tomorrow’s Stocks

Intraday Chart:

• Vietnam Manufacturing PMI;
• Valuation of Industry Groups on the US Stock Market;

US Stock Market: In the short term, the sharp decline in yields brings the sentiment that the economy is about to enter a recession and commodity prices will decline. However, as shared, the economy typically lags the stock market by an average of 116 days. The US stock market will be closed for Independence Day tonight. The index is forecast to continue rising after trading resumes

Investors can download the full report via the following link:

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