MARKET INSIGHTS_04012023
04/01/2023
MARKET PULSE The VN-Index closed forming a "Small Black Candle" trading pattern. Trading volume increased but remained below the 20-day average. Price increase with volume increase is theoretically a good technical signal, but today was a negative day with a red candle and decreasing market breadth. Key points to note: (i) The 1,050-point region acted as resistance, and the index could not conquer it on its first retest. Additionally, year-end profit-taking demand was also the main reason the index only saw a slight increase at the end of the session. (ii) The VN-Index completed its flag pattern, having both a flagpole and a flag. Theoretically, the index could advance to the 1,216-point price region. Furthermore, in this pattern, when a "Break out" occurs, retesting the resistance line (which now acts as support) is not an overly negative point. (iii) The rotation of cash flow into the mining sector is also a good sign. (iv) Differentiation also began to show clearly in today's session. (v) The index is likely to test the T+2.5 cycle tomorrow, and if the index closes higher in the afternoon session, cash flow could become more aggressive. According to the "Price Action" analysis method for VN30, we have 09 codes showing buy signals, 05 codes showing sell signals, and 16 codes showing sideways signals. PLX, VPB, CTG, VCB, VHM, PDR, VIC, MSN, NVL ...show positive signals. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of increasing and a 47.05% probability of the closing price being higher than the opening price. Statistics show that the index will increase in tomorrow's trading session. Resistance is 1,100 points. Support is the 970-point region. Intraday Stock Support and Resistance (EOD) Stocks with abnormal trading volume during the day Watchlist for tomorrow Intraday Chart: * Tight monetary policy stance is more important than the federal funds rate; * Weak inflation means negative corporate earnings growth; * Where is the Vietnamese stock market?; US Stock Market: The S&P 500 is moving sideways with no clear trend, and we expect the index to rise to soon confirm an uptrend. 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 “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 […]
