MARKET INSIGHTS_16052024
16/05/2024
SUMMARY OF KEY POINTS IN THE REPORT VN-Index surpassed the resistance level of 1,250 points, which was also the downtrend channel established since March 7, 2024. This is a positive signal. Combined with RSI(14) setting new highs, it has also attracted cash flow back into the market as we expected in yesterday's report. This is an important point right now, and liquidity may start to increase again.The return to growth of the banking sector has somewhat supported the index's stronger upward momentum. LPB, TCB breaking new highs shows that they are strong banking stocks, and these are still 2/3 of our preferred stocks in the Q1 business results summary for banks when we shared it. The market may differentiate and slow down its upward momentum tomorrow, but as shared, we prioritize stock selection for trading over looking at the index at this time.According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of increasing and a 51.42% probability of the closing price being higher than the opening price. Based on statistics, the index traded up with the closing price higher than the opening price in Friday's trading session. Support is 1,240 points and resistance is 1,280 points.Investors can download the full report via the following link:
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