MARKET INSIGHTS_15032024
15/03/2024
SUMMARY OF KEY POINTS IN THE REPORT
In O'Neil's theory, there's a rule for supplementary buy points when a stock pulls back to its 10-week MA after breaking out of a Stage 1 base for the 1st to 3rd time. This means if a stock pulls back 1-3 times from a Stage 1 base, a supplementary buy can be made when the stock bounces strongly off its 10-week MA with high volume. In this scenario, there are two possibilities: (a) A strong shake-out occurs to clear a large amount of clinging supply down to the 10-week MA, followed by strong buying interest that catches investors off guard. (b) Flat base trading requires 1-2 weeks of accumulation before breaking out.
The real estate sector is showing good trading signals, such as DIG, HDC... We note that in these two weeks, real estate transactions are showing a sudden increase in the market.
According to quantitative statistics, with today's pattern, the VN-Index has a 51% probability of increasing in the next trading session, and a 34.78% probability of the closing price being higher than the opening price. Based on statistics, the index traded higher with a closing price lower than the opening price on Monday's trading session. The sideways trading trend around resistance and support will continue, with differentiation and the breadth of new highs potentially increasing. Resistance is 1,300 points. Support is 1,210 points.
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