MARKET INSIGHTS_20032024
20/03/2024
SUMMARY OF SOME KEY POINTS IN THE REPORTTheoretically, the market operates according to a shakeout model. We had a panic-inducing price drop session on March 18, 2024, however, there was no further decline on the day after the shakeout session - in fact, the market went up. If large volume meant a price drop, the market would not have gone up. February 19, 2024, was a session that fell back into the previous high volume area, and usually, if the volume is large, it's a failed test session (This might be contrary to the thinking of most investors). In reality, we had a low volume session, which is a buy signal according to theory. Why is that? Because it dipped into the sell-off area of the shakeout zone, but we saw the selling volume disappear. On March 20, 2024, we had a green candle that surpassed 2/3 of the March 18, 2024, bearish candle, confirming that the market has returned to an uptrend.The rebound in the banking sector was a highlight of the day. This uptrend signals that the correction of wave 4 for the banking group has ended, and this aligns with our expectations. VIB hit its ceiling and set a new high, while LPB was the second strongest performing stock from its low base. These are two stocks representing the group that accumulated and broke out, and the deeply corrected group with the fastest rebound. Additionally, both CTG and TCB also recovered well from the support areas we shared.Market breadth breaking new highs continues to increase with TCH, DIG...Investors can download the full report via the following link:
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