MARKET INSIGHTS_05072022
05/07/2022
MARKET PULSE The VN-Index closed the trading session forming a "Long Black Candle" pattern. Trading volume increased and returned to the 20-day average. Falling prices with increasing volume is not a good technical signal. Key points to note: (i) Regarding the pattern, the VN-Index is retesting the 1,150-point support level. (ii) Selling pressure is concentrated on stocks with high returns in June. This seems similar to the April and May periods. Thus, the market may form a bottom when the currently sold-off groups stop declining. Currently, these stock groups will start to decline towards strong support zones in another 1-2 trading sessions, and investors should observe trading to determine the index's main trend. According to the "Price Action" analysis method for VN30, we have 09 codes showing buy signals, 08 codes showing sell signals, and 13 codes showing neutral signals. Banks had a negative trading day. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 48% probability of increasing and a 57.14% probability of the closing price being higher than the opening price. Statistics show that the index will decrease in tomorrow's trading session. However, we believe that the market will see bottom-fishing demand in tomorrow's session. Resistance is at 1,250 points and support is at 1,150 points. Intraday Stock Support and Resistance (EOD) Stocks with sudden surge in trading volume today Watchlist for tomorrow Intraday Chart: * Logistics costs are starting to cool down; * GS estimates US corporate EPS and US GDP; US Stock Market: In the short term, sharply falling yields create a sentiment that the economy is heading into recession and commodity prices will decline. However, as shared, the economy typically lags the stock market by an average of 116 days. The US stock market will be closed for Independence Day tonight. The index is forecast to continue rising after trading resumes. 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 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 […]
