MARKET INSIGHTS_06102022

MARKET PULSE

The VN-Index closed the trading session forming a “Black Candle” trading pattern. Trading volume increased and was above the 20-day average. Falling prices with increasing trading volume is technically negative;

Key points to note: (i) The VN-Index is trading according to the island cluster pattern that we shared concerns about yesterday. (ii) The ADX bubble is at a high level and is preparing to reach a reversal point after 1-2 more trading sessions. (iii) If the VN-Index turns green tomorrow, the opportunity to form a bottom and create a counter-wave will be confirmed;

According to the “Price Action” analysis method for VN30, we have 03 codes giving buy signals, 02 codes giving sell signals, and 25 codes giving sideways signals. VIC, PRD, SAB… show positive 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 63.63% probability of the closing price being higher than the opening price. Statistics show that the index will increase in tomorrow’s trading session. Resistance is 1,150 points. Strong support is 1,000 points.

Intraday Stock Support and Resistance (EOD)

Stocks with a Surge in Trading Volume Today

Watchlist of Stocks for Tomorrow

Intraday Charts:

• US oil reserves hit a record low;
• How national debt is increasing;

US Stock Market: The S&P 500 is in a decisive price zone for a short-term uptrend. Another upward session would open up opportunities for price increases, while a downward session could push the S&P 500 back to the 3,200-point range. Technically, models show that the index is in the process of forming a bottom. A bottom is always a process, not a single trading session.

Investors can download the full report via the following link:

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