MARKET INSIGHTS_21032022

MARKET PULSE

The VN-Index closed the trading session forming a “White Closing Marubozu” trading pattern. Trading volume increased and was below the 20-day average. Increasing price with increasing trading volume is a good technical signal.

Key points to note: (i) From the neckline support area of the head and shoulders pattern, the index has risen continuously and is preparing to retest the old peak. This somewhat reduces the fear of a head and shoulders pattern at the top. (ii) Cash flow tends to spread to speculative stocks, real estate stocks, and even fundamentally positive stocks, providing many choices for both investors and speculators at this time. The risk rotation continues.

According to the “Price Action” analysis method for VN30, we have 09 codes giving buy signals, 01 code giving sell signals, and 20 codes giving sideways signals. Vincom group with VIC, VRE, VHM showed positive trading patterns today.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 51% probability of increasing and a 25% probability of the closing price being higher than the opening price. Statistics show that the market will increase with a lower closing price. Resistance is 1,535 points. Support is 1,440 points. A narrow-range sideways trend is forming.

Intraday Stock Support and Resistance (EOD)

Stocks with Surging Trading Volume Today

Watchlist for Tomorrow

Intraday Chart:

• A bearish indicator?;
• US 10-year and 2-year bond yield spread;

US Stock Market: Stocks completed a week-long rally, closing near today’s session highs. The Nasdaq 100 led the major indices. We observe that the indices are at medium-term resistance after the recent rally, and therefore the indices are expected to correct downwards in the first trading session of the week.

Investors can download the full report via the following link:

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