MARKET INSIGHTS_07112023
07/11/2023
MARKET PULSE The VN-Index closed the trading session forming a "Long Black Candle" trading pattern. Trading volume decreased and was below the 20-day average. Decreasing price with decreasing volume is not a signal that strongly supports a downtrend. Key points to note: (i) After RSI(14) broke out of the Falling Wedge pattern, this index is now falling back to test the resistance level, which is now a support zone. (ii) The VN-Index adjusted when it entered the resistance zone, which is the price gap established on October 25, 2023, and this adjustment is not too surprising. Basically, today's developments are consistent with the VN-Index's movement trend. (iii) The VN-Index also adjusted when it approached the dynamic resistance zone of MA(20) today. (iv) Cash flow also shifted towards the oil and gas group, while strong profit-taking pressure is occurring in the real estate group. In addition, the banking group's adjustment also caused the index to fall further. Foreign net selling also caused the majority of the VN30 group to adjust downwards during the day. Overall, we had a not-so-positive trading day. According to the "Price Action" analysis method for VN30, we have 06 codes giving buy signals, 08 codes giving sell signals, and 16 codes giving sideways signals. ACB, VIB, SAB, BVH, MSN, HPG... gave positive signals. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of decreasing and a 40% probability of the closing price being higher than the opening price. Based on statistics, the index will trade downwards with the closing price lower than the opening price. Resistance is 1,104 points. Support is 1,020 points. Stock support and resistance for the day (EOD) Stocks with abnormal trading volume during the day Watchlist of stocks for tomorrow Intraday chart: * Stocks with the best returns on the US stock market over the past 5, 10, 15, 20 years; * Ready for a soft landing? ; US Stock Market: Forecasts indicate indices will rise. Investors can download the full report via the following link:
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Summary of Key Points in the Report The VN-Index closed the trading session forming a “Small White Candle” pattern. Trading volume declined but remained above the 20-day average. According to theory, a price increase accompanied by declining volume is not a bullish pattern supported by volume – thus, the signal is not very positive. Key […]
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Summary of Key Points in the Report The VN-Index closed the trading session forming a “Long White Candle” pattern. Trading volume increased and surpassed the 20-day average. According to theory, a price rise accompanied by higher volume represents a bullish pattern supported by volume – a positive signal. Key highlights: (i) Foreign investors recorded a […]
Summary of Key Points in the Report The VN-Index closed the trading session forming a “Long White Candle” pattern. Trading volume increased and surpassed the 20-day average. According to theory, a price rise accompanied by higher volume represents a bullish pattern supported by volume – a positive signal. Key highlights: (i) Foreign investors recorded a […]
Summary of Key Points in the Report The VN-Index closed the session forming a “Small Black Candle” pattern. Trading volume increased and surpassed the 20-day average. Theoretically, a rise in both price and trading volume indicates a bullish pattern supported by volume — a positive signal. Key highlights: (i) Foreign investors recorded a net purchase […]
