MARKET INSIGHTS_23052023
23/05/2023
MARKET PULSE
The VN-Index closed trading forming a "Long Black Candle" trading pattern. Trading volume decreased but remained above the 20-day average. Falling prices with increasing volume is not a good technical trading signal. Key points to note: (i) The VN-Index is moving within an expanding triangle channel, and this pattern is approaching its final point. We have not yet seen a "Break out," and essentially, the index is still moving sideways around the resistance area of the triangle pattern. (ii) Oil and gas, and pork are groups with outstanding profitability in recent sessions. Additionally, some small-cap stocks like QBS, SAM, EVG... have resumed their upward trend, which is also a good sign. (iii) Net selling by foreign investors is the main factor pushing the index down. SAB, MSN, VNM, and the banking stock group are the culprits that caused the index to sometimes drop by nearly 10 points.
According to the "Price Action" analysis method for VN30, we have 04 stocks showing buy signals, 12 stocks showing sell signals, and 14 stocks showing sideways signals. GAS, VIB, VCB, MBB, VHM, STB, TPB, PLX... show negative signals.
According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of declining and a 48.57% probability of the closing price being higher than the opening price. Statistics show that the index will decrease on the next day. Support is 1,018 points, and resistance is 1,100 points.
Intraday Stock Support and Resistance (EOD)
Stocks with sudden surge in trading volume during the day
Watchlist of stocks for tomorrow
Intraday Chart:
* Domestic fertilizer prices are still in a strong downward trend;
* The asset quality of the commercial banking system is showing a declining trend;
US Stock Market: Discussions on the debt ceiling are unlikely to conclude before the week of June 1, 2023, and therefore, the stock market will continue to trade sideways and be differentiated, similar to recent trading sessions.
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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 […]
Summary of Key Points in the Report The VN-Index closed the trading session forming a “Black Candle” pattern. Trading volume increased and surpassed the 20-day average. According to theory, a price decrease accompanied by rising volume is a bearish pattern supported by volume – a negative signal. Key highlights: (i) Foreign investors recorded a net […]
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 […]
