MARKET INSIGHTS_12062023

MARKET PULSE The VN-Index closed the trading session forming a "White Closing Marubozu" trading pattern. Trading volume decreased and was below the 20-day average. Price increase with decreasing volume is not a good technical signal. Key points to note: (i) The VN-Index has surpassed the dynamic MA(200) day resistance. This is a good technical signal. The last time it broke above this line, the VN-Index had a 2-year uptrend. (ii) Significant selling pressure throughout the trading day also creates a risk of decline, but notably, the selling volume was not actually too large, even though today was the day when a record-breaking order matching session from a few months ago settled in accounts. Pushing the index up at the end of the day also somewhat relieved negative sentiment. (iii) A slight concern with the developing Failure Swing pattern, and notably, the index has not yet surpassed the 1,130 and 1,150 point range. This is still considered a difficult resistance area that the market needs time to re-accumulate. (iv) The second negative point is that the ABCD pattern also suggests a correction. We believe that a correction, if it occurs, is also necessary for the market. Investors should not be overly concerned about this event. (v) Foreign investors returning to light net buying is also a good sign. At least the foreign net selling streak is showing initial signs of stopping. We still expect foreign investors to soon return to a net buying streak when the VN-Index is in a strong resistance area, which will support investor sentiment. According to the "Price Action" analysis method for VN30, we have 16 codes giving buy signals, 04 codes giving sell signals, and 10 codes giving neutral signals. VIB, BVH, CTG, FPT, SSI... are giving positive signals. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of increasing points and a 55.56% probability of the closing price being higher than the opening price. Statistics show that the index traded up with the closing price lower than the opening price in the next session. Support is 1,060 points and resistance is 1,130 points. Intraday Stock Support and Resistance (EOD) Stocks with sudden surge in trading volume today Watchlist for tomorrow Intraday Chart: * The race to expand nuclear arsenals * Expected inflation in the US is trending down; US Stock Market: Indices are forecast to continue rising tonight. Investors can download the full report via the link below: