MARKET INSIGHTS_18032024
18/03/2024
SUMMARY OF SOME KEY POINTS IN THE REPORTAccording to O'Neil's theory, there is a rule for additional buy points when a stock pulls back to the 10-week MA after breaking out of a base 1, from the 1st to 3rd attempt. This means that if a stock pulls back 1-3 times from base 1, an additional buy can be made when the stock bounces strongly off the 10-week MA with large volume. In this scenario, there will be 2 possibilities: (a) A strong shake-out occurs to flush out a large amount of clinging supply back to the 10-week MA, after which money flows into the stock, catching investors off guard. (b) A flat base pattern requires 1-2 weeks of accumulation before breaking out. Theoretically, it seems the market is currently operating in a shake-out manner.The index's long-legged candlestick closing above the resistance line established at the peak of July 2022 and August 2023 is also a positive signal. Market trading resembles early 2021, a period when the securities group continued to rise sharply despite two large-volume distribution candles. Currently, the real estate group has the potential to become such a group, supported by government policies and actual market liquidity over the past two weeks.The real estate group is showing good trading signals, including DIG, HDC, TCH, DXG, CEO... We note that over the past two weeks, real estate transactions have shown a sudden increase in the market.Investors can download the full report via the following link:
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