MARKET INSIGHTS_06042022
06/04/2022
MARKET PULSE
The VN-Index closed forming a "Bullish Engulfing" candlestick pattern. Trading volume increased and was above the 20-day average. Rising price with increasing volume is a good sign. Key points to note: (i) The index established a "Break out" of the triangle pattern with a price gap. The index falling back to fill the price gap and then rising again with increasing volume is a good technical signal. (ii) The upper band tends to open up, supporting price increases. (iii) Cash flow is tending to return to the VN30 group and stocks with business factors forecast to grow. This opens up prospects for pushing the index higher.
According to the "Price Action" analysis method for VN30, we have 17 codes for buy signals, 07 codes for sell signals, and 13 codes for neutral signals. The banking group, PNJ, MWG, MSN, GAS, FPT have positive trading patterns.
According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 49% probability of increasing and a 58.33% probability of the closing price being higher than the opening price. Statistics show that the market will decrease tomorrow, but we predict the indices will increase. Resistance is 1,535 points. Support is 1,480 points.
Intraday Stock Support and Resistance (EOD)
Stocks with abnormal trading volume during the day
Watchlist for tomorrow
Intraday Chart:
* Profit outlook and stock valuation;
* The number of new accounts continues to increase sharply, but cash flow does not increase proportionally;
US Stock Market: Stocks traded lower as investors realized that rapidly rising interest rates could reduce the prospects for stock market growth. Rising interest rates also pushed the dollar index value higher, thus negatively impacting gold prices. Indices are forecast to continue to correct downwards in tonight's trading session.
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