MARKET INSIGHTS_2012022
20/01/2022
MARKET PULSE
The VN-Index closed the trading session forming a "Long White Candle" pattern. Trading volume increased but remained below the 20-day average. Technically, the price increase with returning volume is a good sign at this time. Points to note: (i) RSI(14) has shown good recovery in the last 2 sessions, but the current pattern often sees a pullback after another 1-2 sessions. (ii) The VN-Index faces resistance from the MA(50) moving average around the 1,500-point area. The index is likely to encounter significant difficulty when rising to this zone. (iii) Tomorrow is the T+3 bottom-fishing day, and it's crucial for demand to effectively absorb the profit-taking supply at the end of the session to open up a longer-term outlook. (iv) Note that recently the VN-Index often corrects after a T+1 session where goods arrive.
According to the "Price Action" analysis method for VN30, we have 05 codes showing buy signals, 03 codes showing sell signals, and 22 codes showing sideways signals. STB, MBB, VRE, BID, PDR are large-cap stocks showing good signals today.
According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 50% probability of increasing and a 41.66% probability of the closing price being higher than the opening price. Statistics show that the market will trade indecisively between gains and losses in tomorrow's session. It is highly likely that a Doji or inverted hammer candlestick pattern could appear. We believe that correction pressure may appear at the beginning of the week, and tomorrow the market breadth will lean towards declining stocks. Resistance is 1,500 points and support is 1,430 points.
Intraday Stock Support and Resistance (EOD)
Stocks with sudden surge in trading volume today
Watchlist for tomorrow
Intraday Chart:
* China's easing monetary policy;
* Q4/2021 business results of listed companies on the Vietnamese stock exchange;
US Stock Market: Stock and bond prices fell today as Goldman Sachs reported missing its earnings estimates. Last night's developments indicate that the market is in a short-term downtrend. A good support level would typically see a technical rebound, but there was an unexpected downward movement. Tonight's forecast is for indices to continue to decline.
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Summary of Key Points in the Report The VN-Index closed the trading session forming a “Long White Candle” pattern. Trading volume increased and surpassed the 20-day average. According to theory, a price rise accompanied by higher volume represents a bullish pattern supported by volume – a positive signal. Key highlights: (i) Foreign investors recorded a […]
Summary of Key Points in the Report The VN-Index closed the trading session forming a “Long White Candle” pattern. Trading volume increased and surpassed the 20-day average. According to theory, a price rise accompanied by higher volume represents a bullish pattern supported by volume – a positive signal. Key highlights: (i) Foreign investors recorded a […]
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