MARKET INSIGHTS_26052023

MARKET PULSE The VN-Index closed the trading session forming a "Black Candle" trading pattern. Trading volume decreased and was lower than the 20-day average. Falling prices with decreasing volume is also a good sign at this time, indicating that the demand to sell at any price is weakening. Key points to note: (i) The VN-Index is moving within an expanding triangle channel, and this pattern is approaching its final point. We have not yet seen a "Break out," and essentially, the index is still moving sideways around the resistance area of the triangle pattern. It has been 11 sessions since May 12, 2023. (ii) Differentiation continues, with the mid-cap and small-cap groups seeing price increases again after the recent correction. (iii) Foreign investors net sold VN30, focusing heavily on selling steel, banking, and securities stocks, causing the index to adjust slightly downwards. However, we observe that domestic capital is buying quite well and supporting these stock groups. Additionally, despite strong selling, when large-cap stocks fell to support levels, demand pushed them into the green, as seen with STB and GVR. Therefore, we expect the steel and banking groups to recover by the middle of next week; According to the "Price Action" analysis method for VN30, we have 03 codes showing buy signals, 10 codes showing sell signals, and 17 codes showing sideways signals. PLX, GVR, KDH... show positive signals, while VIB, TCB, MBB... show negative signals. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 50% probability of increasing and a 51.17% probability of the closing price being higher than the opening price. Statistics show that the index will trade indecisively between gains and losses, with the closing price higher than the opening price on the next day. We believe that at this stage, looking at individual stock codes is still more important. Furthermore, looking throughout the past period, the buy-and-hold strategy has generated higher returns compared to continuous short-term trading. Support is 1,018 points and resistance is 1,100 points. Intraday Stock Support and Resistance (EOD) Stocks with sudden surge in trading volume today Watchlist for tomorrow Intraday Chart: * Advanced semiconductor manufacturing relies on Taiwan; US Stock Market: Forecast for tonight is that indices will rise. Investors can download the full report via the following link: