MARKET INSIGHTS_27122023

MARKET PULSE VN-Index closed the trading session forming a "Small Black Candle" pattern. Trading volume increased but remained below the 20-day average. A price decrease with decreasing trading volume is a bearish pattern not supported by volume. Key points to note: (i) The VN-Index has been operating in the medium term according to the Three Rising Valleys (3RV) pattern since November 1, 2023. The resistance of this pattern is 1,134 points, and if there is a breakout from this resistance, the next price target is 1,245 points. The 1,042-point mark will be the area confirming the continued existence of the pattern. (ii) According to seasonal adjustment cycles, liquidity also tends to narrow. (ii) The principle that resistance remains resistance until it is broken still needs to be noted at this time. (iii) Today, foreign investors made a slight net purchase of over 100 billion VND, after a strong net selling streak over the past half-month. One session cannot create a trend, but the halt in net selling shows that we should view foreign net flows as eventually turning to net buying, even if they were net sellers before, and they might even buy at high prices. Therefore, we should focus on the trading movements of individual stocks to decide whether to buy or sell. (iv) Specifically for matched order transactions on HOSE today: Domestic organizations (excluding proprietary trading) bought 158.4 billion VND. Proprietary trading bought 211.2 billion VND, domestic individual investors net sold 493.1 billion VND. Foreign investors net bought 123.6 billion VND. This proves that individual investors are not always wrong when they net buy, as they bought throughout the recent low-price period and are now selling to take profits in the high-price range. Of course, with proprietary trading groups, organizations, and foreign investors net buying, we expect the market to have the momentum to overcome the 1,134-point resistance. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of increasing and a 43.75% probability of the closing price being higher than the opening price. Based on statistics, the index traded higher with a closing price lower than the opening price on Thursday's trading session. Resistance is 1,134 points. Support is 1,080 points. Intraday Stock Support and Resistance (EOD) Stocks with unusual trading volume today Watchlist for tomorrow Intraday Chart: * Yield curve inverted but stock market still rose strongly; * GS forecasts Fed to cut interest rates in March, May, and June; US Stock Market: Indices are forecast to continue rising slightly tonight. Investors can download the full report via the following link: