MARKET INSIGHTS_09052022
10/05/2022
MARKET PULSE The VN-Index closed trading forming a "Long Black Candle" trading pattern. Trading volume increased and was above the 20-day average. A price decrease with increased volume is not a positive sign because today demand could not absorb the selling supply. Key points to note: (i) Currently, technical indicators have returned to the oversold region and are forming a double bottom pattern with positive divergence, signaling a reversal (Requires a session with a point decrease below the 1,260 point region). (ii) The VINCOM group remains the strongest support, helping the index not to fall. Additionally, as usual, VCB often goes against other banking stocks with efforts to turn green during the day. (iii) Market breadth is heavily skewed towards selling, and we are in an extremely pessimistic state. (iv) The ADX(14) bubble is in the region signaling a trend reversal. Investors need to observe the divergence of the two indicators DI(+) and DI(-) at this time. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 48% probability of increasing and a 54.54% probability of the closing price being higher than the opening price. Statistics show that the market will decline in tomorrow's session. Support is 1,260 points and the next support is the 1,200 point price region. We expect bottom-fishing demand to increase in tomorrow's trading session as the market has fallen sharply with many stocks starting to enter strong support areas. Intraday Stock Support and Resistance (EOD) Stocks with unusual trading volume during the day Stocks of interest for tomorrow Intraday Chart: * US CPI has peaked as predicted by Prof. ?; * Taylor Rule for the US economy; US Stock Market: Indices are still in strong support areas, and despite quite negative trading, both S&P 500 and Dow Jones have not yet broken their nearest support lows. Basically, support remains support until it is broken. We will observe for 2 more trading sessions to clarify the market trend. Investors can download the full report via the following link:
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Summary of Key Points in the Report The VN-Index closed the trading session forming a “Long White Candle” pattern. Trading volume increased and surpassed the 20-day average. According to theory, a price rise accompanied by higher volume represents a bullish pattern supported by volume – a positive signal. Key highlights: (i) Foreign investors recorded a […]
Summary of Key Points in the Report The VN-Index closed the session forming a “Small Black Candle” pattern. Trading volume increased and surpassed the 20-day average. Theoretically, a rise in both price and trading volume indicates a bullish pattern supported by volume — a positive signal. Key highlights: (i) Foreign investors recorded a net purchase […]
