MARKET INSIGHTS_04032022
04/03/2022
MARKET PULSE
The VN-Index closed the trading session forming a "Small Black Candle" trading pattern. Trading volume decreased but remained above the 20-day average. Overall, the volume pattern, similar to most recent periods, does not support the index's upward momentum. Key points to note: (i) The narrowing band and the upper band not yet opening indicate that the market cannot break out strongly. This is merely a warning sign of strong volatility approaching. Typically, if the market rises, it will rise well, or conversely, it could fall more sharply. (ii) The head-and-shoulders pattern at the peak still poses a risk. (iii) The market remains differentiated and gains points by sector. However, some short-term correction pressure may emerge as many stock groups have seen 40-100% returns during the recent sideways period.
According to the "Price Action" analysis method for VN30, we have 08 codes showing buy signals, 06 codes showing sell signals, and 16 codes showing sideways signals. SAB, KDH, PLX showed "Bearish" signals today.
According to quantitative statistics, with today's pattern, the VN-Index has a 53% probability of increasing in the next trading session, and a 45.6% probability of the closing price being higher than the opening price. Statistics show that the market will gain points on the first trading day of the week, however, we see the possibility that the index could decline. Resistance is 1,535 points. Support is 1,470 points.
Stock support and resistance for the day (EOD)
Stocks with a surge in trading volume today
Watchlist of stocks for tomorrow
Intraday chart:
* Russian Ruble under pressure from Western economic sanctions;
* Textile and garment industry grew well in Jan/2022;
US Stock Market: Stocks fell and bond prices rose today, although both of these, along with real estate ETFs, have been trending lower so far in 2022. Amazon is representative of stocks that have struggled this year. Tonight's forecast is for indices to decline.
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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 […]
