MARKET INSIGHTS_1112022

MARKET PULSE

The VN-Index closed trading, forming a “Black Candle” trading pattern. Trading volume decreased but remained above the 20-day average. Market breadth today leaned towards a negative trend, coupled with a candlestick combination that was not as expected, which is a bad sign at this time.

Key points to note: (i) RSI(14) established a new low, indicating a prevailing negative trend. (ii) Three major industry groups are trading below MA(50): securities, fertilizers, and steel. (iii) The bright spot is that the index remains above the dynamic support MA(20), and the construction and real estate sectors continue to maintain good price momentum. This helps keep the expectation of leadership alive.

According to the “Price Action” analysis method for VN30, we have 02 codes showing buy signals, 08 codes showing sell signals, and 20 codes showing sideways signals. BID and GAS had Bullish 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 50% probability of the closing price being higher than the opening price. Statistics show that the market will increase tomorrow. We also expect a bottom-finding reaction at the dynamic support level to appear tomorrow.

Intraday Stock Support and Resistance (EOD)

Stocks with a Spike in Trading Volume Today

Stocks to Watch Tomorrow

Intraday Chart:

• US growth stocks have experienced a prolonged period of decline;
• LPG prices are trending upwards, does this support an increase in GAS stock price?;

US Stock Market: Stocks fell at the open but rebounded strongly to regain lost ground. Apple showed support, but the reality remained unchanged from Friday. However, Tesla closed up 3%. Major indices are forecast to rise tonight.

Investors can download the full report via the following link:

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