MARKET INSIGHTS_08032022
08/03/2022
MARKET PULSE The VN-Index closed the trading session forming a "Black Closing Mazuboru" trading pattern. Trading volume increased and was above the 20-day average. Price decline with increasing volume is a negative signal at this time. Points to note: (i) The narrowing band along with today's price drop is a dangerous warning. We could enter a strong downtrend cycle if the index falls in the next 2-3 sessions. (ii) The head and shoulders pattern at the peak still poses potential risks. (iii) The market has very few differentiated stock sectors, and the increasing profit-taking pressure in the oil and gas, and fertilizer groups is not a very positive warning at this time. According to the "Price Action" analysis method for VN30, we have 04 codes for buy signals, 08 codes for sell signals, and 18 codes for sideways signals. HPG, GAS, TPB gave "Bearish" signals today. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 47% probability of increasing and a 75% probability that the closing price will be higher than the opening price. Statistics show that the market will decrease tomorrow. Resistance is 1,535 points. Support is 1,470 points and 1,400 points. Intraday Stock Support and Resistance (EOD) Stocks with a surge in trading volume today List of stocks to watch tomorrow Intraday Chart: * Russia's most important oil export partners; US Stock Market: Stocks fell today as indices had their worst day in 18 months. VIX price action suggests that investors think the worst is yet to come. The index is currently at support; if it breaks, selling pressure will be very high, and we often believe that the index tends to fluctuate around this level. The forecast for tonight is that the index will increase. Investors can download the full report via the following link:
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