MARKET INSIGHTS_07042022
07/04/2022
MARKET PULSE The VN-Index closed trading forming a "Black Closing Marubozu" candlestick pattern. Trading volume decreased and remained at the 20-day average. A sharp price drop in the support zone with low trading volume is not necessarily too negative (If volume were high, it would be very negative). Key points to note: (i) The index established a "Break out" of a triangle pattern with a price gap. The index fell back to fill the price gap and broke support, creating a rather negative trading pattern. This implicitly means we are trading according to an exhaustion gap combination. (ii) The upper band is starting to narrow again, and this will not support a strong upward price trend in the short term. (iii) Selling pressure is strongly increasing across fundamental, speculative, and large-cap groups. This needs to be limited in the next 1-2 sessions to help the market regain balance. According to the "Price Action" analysis method for VN30, we have 07 codes giving buy signals, 14 codes giving sell signals, and 09 codes giving sideways signals. POW has a good trading pattern. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 47% probability of increasing points and a 34.61% probability of the closing price being higher than the opening price. Statistics show that the market will decrease tomorrow. Resistance is 1,535 points. Support is 1,480 points. Intraday Stock Support and Resistance (EOD) Stocks with abnormal trading volume today Watchlist for tomorrow Intraday Chart: * US recessions lead to highest unemployment rates; US Stock Market: Stocks fell as investors reacted to concerns that the Fed might accelerate the pace of interest rate hikes. Energy sector stocks are currently maintaining relative strength but could show weakness if oil prices fall. After several declining sessions, tonight the indices might trade indecisively between gains and losses - closing slightly up or slightly down. Investors can download the full report via the following link:
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