MARKET INSIGHTS_30062022

MARKET PULSE
The VN-Index closed the trading session forming a "Long Black Candle" trading pattern. Trading volume decreased slightly and was below the 20-day average. A price decrease with decreasing volume is not an overly negative signal in technical analysis. Key points to note: (i) Regarding the pattern, the VN-Index corrected as it approached the dynamic resistance MA(20). This indicates that pessimistic sentiment is still present at this time. However, today's effect might be due to the market simultaneously taking profits upon encountering resistance, and investors limiting purchases of stocks that yielded a 20% return in the recent rebound. (ii) Selling pressure was not truly excessive despite the index's decline. At certain times, we observed that supply had dried up, and essentially, the late-hour selling effect was mainly due to increased profit-taking demand. (iii) Typically, to start an uptrend, high Beta stocks will be in focus at this time. We should also observe high Beta stocks in the next few sessions after this group potentially completes a technical pattern with a higher degree of confidence.
According to the "Price Action" analysis method for VN30, we have 03 codes for buy signals, 12 codes for sell signals, and 15 codes for sideways signals. The banking sector had a negative transaction.
According to quantitative statistics, with today's pattern, the next trading session for the VN-Index has a 48% probability of increasing and a 100% probability of the closing price being higher than the opening price. Statistics show that the index will decrease in tomorrow's trading session. Resistance is at 1,250 points and support is at 1,150 points.
Intraday Stock Support and Resistance (EOD)
Stocks with abnormal trading volume today
Watchlist for tomorrow
Intraday Chart:
* The war in Ukraine slows down global economic growth;
* The stock market always precedes the economy;
US Stock Market: The US stock market is in its worst period in history, with a decline that will likely be the highest after half a year. History shows that developments in the second half of the year are often positive after a bad first half. Some initial signs indicate that inflation is slowing down and energy prices are starting to fall. Easing inflation will help improve investor sentiment at this time.
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