MARKET INSIGHTS_08082022
08/08/2022
MARKET PULSE The VN-Index closed the trading session forming a "White Candle" trading pattern. Trading volume increased and was above the 20-day average. A price increase with increasing volume is a good sign in the context that we are in a strong short-term resistance zone. Key points to note: (i) The index successfully conquered the short-term resistance level of 1,252 points, which is the price gap established on June 13, 2022, and is the target price zone of the small inverse head and shoulders pattern at the bottom. This was a good trading day. (ii) Cash flow is rotating among industry groups with the potential to lead. The market continues to pursue attractive technical patterns, creating excitement in trading. As long as the risk rotation continues, the market still tends to go up. According to the "Price Action" analysis method for VN30, we have 10 codes giving buy signals, 16 codes giving sell signals, and 04 codes giving neutral signals. Securities, banking... are giving negative signals. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 49% probability of increasing points and a 58.82% probability of the closing price being higher than the opening price. Statistics show that the index may correct downwards tomorrow. Resistance is 1,300 points and short-term support is 1,226 points. We believe that the stocks currently held are more important than the index at this time. Stock support and resistance for the day (EOD) Stocks with a sudden increase in trading volume during the day Watchlist of stocks for tomorrow Intraday chart: * Overview of the textile and garment industry 6M/2022; US Stock Market: The market fell sharply after an extremely good jobs report. The explanation for this event is that investors believe that with positive signals from the job market, the FED will raise interest rates more aggressively to combat inflation. However, from a long-term perspective, good job market signals have reduced the recessionary pressure on the economy. It is forecasted that tonight the indices will increase. Investors can download the full report via the following link:
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