MARKET INSIGHTS_07052024
07/05/2024
SUMMARY OF KEY POINTS IN THE REPORT
After a follow-through day with low trading volume, is it a failure or not? In theory, this is entirely possible. For example, a classic case is the US stock market in 2002, which bottomed out and had an FTD day, but trading volume remained low for a long time. However, the FTD day was precisely the day that confirmed the return of an uptrend. Based on this theory, we believe investors do not need to be overly concerned at this time.
In the short term, the dynamic resistance zone MA(50) at 1,250 will be an obstacle for the index, but we believe the VN-Index has a high probability of successfully breaking through this resistance. However, we also note that we are entering a dense resistance area, and this could be a period of significant stock differentiation. Many stocks will not rise in price and may break their lows, but conversely, many stocks will break new highs. From our perspective, stock selection during this period will be more important than predicting the rise and fall of the VN-Index (Our implication is that in other periods, the general trend of the VN-Index's rise and fall strongly impacts individual stocks more than in this current period).
Capital tends to favor stocks with strong business fundamentals, supported by expectations of business improvement from macroeconomic factors, global commodity prices, consumption volume, and the certainty of improving business profits, rather than purely speculative stocks without underlying business. This is an issue that needs attention when trading stocks.
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