MARKET INSIGHTS_04052022

MARKET PULSE

The VN-Index closed forming a “Bearish Harami” trading pattern. Trading volume decreased and was lower than the 20-day average. Falling prices with falling volume is a good sign.

Key points to note: (i) After a V-shaped price increase, today the market has differentiated. Strong stocks continue to rise, and weak stocks are retesting their old lows. This development is common in the past. (ii) New industry groups have emerged creating new highs after a correction, namely the transportation sector and the seafood group approaching old highs. This reflects that market capital flow is still good and investment is based on business expectations.

According to the “Price Action” analysis method for VN30, we have 07 codes giving buy signals, 02 codes giving sell signals, and 21 codes giving sideways signals. GAS and POW are currently giving “Bullish” signals.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 51% probability of increasing and a 46.15% probability of the closing price being higher than the opening price. Statistics show that the market will increase tomorrow. Support is 1,260 points and resistance is 1,421 points.

Intraday Stock Support and Resistance (EOD)

Stocks with a significant surge in trading volume today

Watchlist of stocks for tomorrow

Intraday Chart:

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US Stock Market: The indices are still in a strong support area, which is the bottom of the most recent correction. Basically, it seems the market is waiting for official interest rate hike information from the FED to measure the impact on earnings. In the short term, technology stocks are still the group under the most pressure right now. It is predicted that the indices will increase tonight.

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