MARKET INSIGHTS_06062024
06/06/2024
SUMMARY OF KEY POINTS IN THE REPORT
Today's cash flow focused on banking and steel stocks. We observe that in the context of the index facing difficulties and often being heavily sold in the afternoon session, the fact that leading groups like banking and steel stocks held firm and still closed near their daily highs remains a bright spot. If this trend continues, the outlook for a breakout remains positive.
It's too early to conclude, but current trading seems to be repeating the pattern seen at the 1,250-point mark, and we may soon see a breakout in the next 2-3 sessions. Of course, as we have shared before, resistance remains resistance until it is broken, so despite positive thoughts, we should still trade cautiously.
According to the "Price Action" analysis method for VN30, we have 08 codes giving buy signals, 06 codes giving sell signals, and 16 codes giving sideways signals. PLX, BCM, VNM, STB, HPG... show positive signals.
According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 50% probability of increasing and a 40% probability of the closing price being higher than the opening price. Based on statistics, the index traded with an unclear increase, with the closing price lower than the opening price on Friday's trading session. Support is 1,240 points and resistance is 1,300 points.
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