MARKET INSIGHTS_17052024
17/05/2024
SUMMARY OF KEY POINTS IN THE REPORT The VN-Index surpassed the resistance level of 1,250 points, which also marked the downtrend channel established since March 7, 2024. This is a positive signal. Combined with RSI(14) setting a new high, this has attracted capital back into the market, as we expected in yesterday's report. This is an important point right now, and liquidity may start to increase again. We observe capital rotation beginning to push prices, including highly valued sectors such as securities and real estate (which are currently at a low base after the recent decline). Thus, the spread is quite good, indicating that the risk-on cycle is continuing. Furthermore, in Q1/2024, the small-cap group recorded a net profit growth of 66.9%, which has also been a driving force for price increases in this group recently. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of increasing and a 53.33% probability of the closing price being higher than the opening price. Based on statistics, the index traded higher with the closing price above the opening price in Monday's trading session. Support is 1,240 points and resistance is 1,280 points. Investors can download the full report via the following link:
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