MARKET INSIGHTS_02082024
02/08/2024
SUMMARY OF KEY POINTS IN THE REPORTWith today's gaining session, in terms of pattern, we are gradually forming a bullish divergence, signaling a reversal at the bottom. Technically, when we are near the dynamic support MA(200), this is always considered a positive signal. However, to confirm the return of a medium-term uptrend, the VN-Index needs to break above the resistance zone of 1,270 points at this time.The securities sector is inherently a group capable of leading the market. Over the weekend, we saw stocks with positive performance in this sector, such as BSI, CTS, FTS, rebound strongly. In terms of patterns, all three rebounded from oversold territory with bullish divergence and a double-bottom reversal pattern. Thus, we need a rebound from leading sectors such as securities, banking, steel, etc., next week to erase current negative trading signals.According to the "Price Action" analysis method for VN30, we have 07 codes giving buy signals, 03 codes giving sell signals, and 20 codes giving neutral signals. SSB, BID, VPB, VCB, VNM, SAB... are giving positive signals.According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 50% probability of declining and a 53.84% probability of the closing price being higher than the opening price. Based on statistics, the index's movement (up or down) is unclear, with the closing price higher than the opening price in Monday's trading session. Support is 1,200 points and resistance is 1,250 points.Investors can download the full report via the following link:
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