MARKET INSIGHTS_10062022
10/06/2022
MARKET PULSE
The VN-Index closed, forming a "Black Closing Marubozu" trading pattern. Trading volume increased and surpassed the 20-day average. Decreasing price with increasing trading volume is a bad technical signal. Key points to note: (i) The 1,300-point level could not support the index on the weekend (It acted as support for most of the day, but selling pressure intensified towards the end of the session, and the index lost this level). This brings a somewhat negative sentiment. (ii) Other groups could not lead the week as cash flow rotation was not strong enough to help groups like textiles and rubber break through the dynamic MA(50) resistance, while groups such as seafood, utilities, and mining faced widespread profit-taking pressure after a hot rally. This signal could lead to an increased decline in the index. According to the "Price Action" analysis method for VN30, we have 02 codes for buy signals, 14 codes for sell signals, and 14 codes for sideways signals. PNJ, FPT, CTG, PLX... showed negative trading patterns during the day. According to quantitative statistics, with today's pattern, for the next trading session, the VN-Index has a 47% probability of increasing and a 40% probability of the closing price being higher than the opening price. Statistics show that it will decline on Monday. Resistance is at 1,340 points and support is at 1,250 points. Intraday Stock Support and Resistance (EOD) Stocks with abnormal trading volume during the day Watchlist of stocks for tomorrow Intraday Chart:
* War creates impulses for global economic recovery;
* Inflation forecast and war in Ukraine;
US Stock Market: Indices had a declining session yesterday. We believe the current up-and-down trend is still within the range from MA(20) to the upper band resistance. Basically, the inflation data on June 10th and the FED meeting mid-next week will determine the new direction of US stock indices.
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Summary of Key Points in the Report The VN-Index closed the trading session forming a “Small White Candle” pattern. Trading volume declined but remained above the 20-day average. According to theory, a price increase accompanied by declining volume is not a bullish pattern supported by volume – thus, the signal is not very positive. Key […]
Summary of Key Points in the Report The VN-Index closed the trading session forming a “Black Candle” pattern. Trading volume increased and surpassed the 20-day average. According to theory, a price decrease accompanied by rising volume is a bearish pattern supported by volume – a negative signal. Key highlights: (i) Foreign investors recorded a net […]
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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 […]
