MARKET INSIGHTS_19032024
19/03/2024
SUMMARY OF KEY POINTS IN THE REPORT
Regarding trading, we had 2 distribution days in the past period according to William O'Neil's theory. With 2 distribution days, we still play a monitoring role rather than an immediate selling point. In reality, the market is still trading well with a back-and-forth trading style around the support area. The longer this process lasts, the higher the chance of the decline stopping. The VN-Index may need more time to re-accumulate around the double-top pattern area to erase negative technical signals at this time; The VN-Index could also move according to an ABC pattern with support at 1,200 points. However, regardless of the trend, the key point is that a decline to support is still a good buying zone; The banking sector is trading at the support of the 4th downtrend wave, and we see bottom-forming trading patterns emerging (Bouncing up and down around support is a common occurrence). The securities sector may still face net selling pressure from foreign investors due to the continuous withdrawal of fund certificates in this industry. Investors can download the full report via the following link:
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