MARKET INSIGHTS_08042022
08/04/2022
MARKET PULSE
The VN-Index closed trading forming a "Three outside downpattern" trading pattern. Trading volume decreased and was lower than the 20-day average. A sharp price drop and no increase in trading volume indicate that investors are cautious in evaluating the market, and this comes from the demand side, not the supply side. Key points to note: (i) The index established a "Break out" of the triangle pattern with a price gap, and the index immediately saw a rapid and significant correction. The trading pattern based on an exhaustion gap is a rather negative signal. (ii) The upper band is starting to narrow again, and this will not support a strong upward price trend in the short term. (iii) Selling pressure is strongly increasing across fundamental, speculative, and large-cap groups. This needs to be limited in the next 1-2 sessions to help the market regain balance. (iv) In a horizontal price range, the index breaking down or breaking out of the MA (Moving Average) has little significance. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 53% probability of increasing points and a 33.33% probability of the closing price being higher than the opening price. Statistics show that the market will increase points on the 3rd day with the closing price lower than the opening price. Resistance is 1,535 points. Support is 1,440 points. A Break Down from the support zone will push the market into a downtrend. Intraday stock support and resistance (EOD) Stocks with abnormal trading volume during the day Watchlist for tomorrow Intraday chart: * Developments in the US stock market with the pace of monetary tightening (fast or slow); * Trend of integrating drug sales into retail systems; US Stock Market: As stocks and bonds diverge with rising interest rates, SPY is starting to trend higher while TLT is trending lower. Concerns about rising interest rates and an inverted yield curve are leading analysts to seek new allocation strategies. Overall, in the short term, indices are unlikely to break through their peaks. Next week, the market will focus on CPI data, which could help predict the FED's next interest rate hike trend before deciding on investment trends in the new phase. Investors can download the full report via the following link:
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