MARKET INSIGHTS_15082022
15/08/2022
MARKET PULSE
The VN-Index closed the trading session forming a "GAP UP" trading pattern. Trading volume increased and was above the 20-day average. Rising prices with increasing trading volume is a positive technical pattern. Key points to note: (i) The VN-Index formed a price gap after a sideways trend. This is a good sign. (ii) RSI(14) set a new high and for the first time rose above 70 since the downtrend in April. This indicates that the current market state is very positive. (iii) The upper band opened up, supporting the price's upward momentum. According to the "Price Action" analysis method for VN30, we have 13 codes showing buy signals, 07 codes showing sell signals, and 10 codes showing sideways signals. The banking sector continues to show good trading signals. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 48% probability of increasing and a 45.45% probability of the closing price being higher than the opening price. Statistics show that the index will decrease in tomorrow's trading session (The index often fills the GAP). Resistance is 1,300 points and short-term support is 1,226 points.
Intraday Stock Support and Resistance (EOD)
Stocks with sudden surge in trading volume during the day
Watchlist of stocks for tomorrow
Intraday Chart:
* Will the US repeat the 2008 scenario?;
* S&P 500 often rises during periods of increasing inflation;
* Correlation between cement and steel prices and the gross profit margin of the construction industry;
US Stock Market: Overall, the current trend remains positive. In the short term, the Nasdaq index touched the resistance target of 13,129 points from the inverse head and shoulders pattern at the bottom, so there will be selling pressure. However, it is too early to confirm that the uptrend has ended.
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