MARKET INSIGHTS_31012024

MARKET PULSE VN-Index closed the trading session forming a "Long Black Candle" trading pattern. Trading volume increased but still exceeded the 20-day average. Theoretically, a price decrease with increased trading volume is a bearish pattern supported by volume. Key points to note: (i) Typically, about 1 week before a holiday, the market often experiences 1-2 sharp decline sessions followed by a series of illiquid increases. Currently, we see the first part repeating with today's sharp decline session. (ii) With the rotation of stock sectors coming to an end, a price correction is also necessary as profit-taking pressure simultaneously emerged in hot sectors recently such as chemicals, rubber... (iii) SHB was a notable phenomenon today as this stock reached a record high matching volume of over 127 million shares. The most widely rumored information today is that: SHB is linked to Hai Ha Petro (an enterprise whose license was recently revoked due to abuse of the price stabilization fund and tax debt on January 12, along with Xuyen Viet Oil). In addition to delaying a tax debt of over 1,775 billion VND, and owing BIDV Bank, Long Bien Hanoi branch 2,142 billion VND, it is known that Hai Ha Waterway and Road Transport Co., Ltd. (Hai Ha Petro) also owes another bank an amount of up to 3,900 billion VND (as of December 2023). Basically, we cannot confirm whether the above rumors are true or not, but strong selling pressure on a deep decline day always creates a negative signal for the stock. SHB is not a stock we prefer to recommend buying due to concerns about its poor asset quality, and therefore we also believe that trying to find a bottom for this stock is unnecessary. (iv) Foreign investors continued net buying, with net buying volume concentrated in the securities, banking, and steel sectors. According to quantitative statistics, with today's pattern, in the next trading session, the VN-Index has a 51% probability of declining and a 50% probability of the closing price being higher than the opening price. Based on statistics, the index may trade down with the closing price potentially higher than the opening price on Thursday's trading session. Resistance is 1,210 points. Support is 1,160 points. Intraday Stock Support and Resistance (EOD) Stocks with abnormal trading volume today Watchlist for tomorrow Intraday Chart: * Impressive recovery of the IIP (Industrial Production Index) and export growth; * Which countries have the highest GDP growth rates?; US Stock Market: Forecast for tonight's closing indices to increase. Investors can download the full report via the following link: