MARKET INSIGHTS_04032022

MARKET PULSE

The VN-Index closed the trading session forming a “Small Black Candle” trading pattern. Trading volume decreased but remained above the 20-day average. Overall, the volume pattern, similar to most of the recent period, did not support the index’s upward momentum.

Key points to note: (i) The narrowing band and the upper band not yet opening indicate that the market cannot break out strongly. This sign is merely a warning of impending strong volatility. Typically, if the market rises, it will rise well, or conversely, it could fall more sharply. (ii) The head-and-shoulders pattern at the peak still poses potential risks. (iii) The market remains differentiated and gains points by sector. However, some short-term correction pressure may emerge as many stock groups have yielded 40-100% returns during the recent sideways period.

According to the “Price Action” analysis method for VN30, we have 08 codes giving buy signals, 06 codes giving sell signals, and 16 codes giving sideways signals. SAB, KDH, PLX gave “Bearish” signals for the day.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 53% probability of gaining points and a 45.6% probability of the closing price being higher than the opening price. Statistics show that the market will gain points on the first trading day of the week, however, we see the possibility that the index could decline. Resistance is 1,535 points. Support is 1,470 points.
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Intraday Stock Support and Resistance (EOD)

Stocks with a surge in trading volume for the day

Watchlist for tomorrow

Intraday Charts:

• Russian Ruble under pressure from Western economic sanctions;
• Textile and garment industry grew well in Jan/2022;

US Stock Market: Stocks fell and bond prices rose today, although both of these, along with real estate ETFs, have been trending lower so far in 2022. Amazon is representative of stocks that have struggled this year. Tonight’s forecast is for indices to decline.

Investors can download the full report via the following link:

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