MARKET INSIGHTS_30012024

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. According to theory, increasing price with increasing trading volume is a bullish pattern supported by volume. Key points to note: (i) The market is entering a trading pattern typical of the Lunar New Year cycle, with selling pressure often appearing in the week before the holiday and liquidity tending to narrow. (ii) Market breadth today improved significantly compared to yesterday, both in terms of the number of rising sectors and rising stocks. Capital flowed into sectors showing good recovery signs in January from Top-Down analysis, such as textiles, industrial park leasing (FDI registration and disbursement continue to increase), retail, construction... (iii) Foreign investors returned to net buying, and the net buying volume continued to focus on banking and steel stocks (This is likely a portfolio restructuring activity by foreign investors). (iv) The sharp decline in the exchange rate after hovering around the 25,000 VND mark is a good sign. With two long bearish candles on the chart, we now see a double-top pattern for the USD/VND exchange rate. Clearly, this is good news for the market and will, to some extent, not put pressure on the State Bank of Vietnam (SBV) to change monetary policy. According to the "Price Action" analysis method for VN30, we have 05 codes showing buy signals, 08 codes showing sell signals, and 17 codes showing sideways signals. GVR, HDB, VJC, SSI, BCM... show positive signals. According to quantitative statistics, with today's pattern, the next trading session, the VN-Index has a 50% probability of increasing and a 42.37% probability of the closing price being higher than the opening price. Based on statistics, the index traded indecisively with no clear upward or downward trend, with the closing price lower than the opening price in Wednesday's trading session. Resistance is 1,210 points. Support is 1,160 points. Intraday Stock Support and Resistance (EOD) Stocks with unusual trading volume today Watchlist for tomorrow Intraday Chart: * Tourism grew seven times faster than GDP after the pandemic; * Exchange rate pressure has eased in the last 2 sessions; US Stock Market: Forecast for tonight is that indices will close lower. Investors can download the full report via the following link: