MARKET INSIGHTS_10062022

MARKET PULSE

The VN-Index closed the trading session forming a “Black Closing Marubozu” trading pattern. Trading volume increased and surpassed the 20-day average. A price decrease with increased trading volume is a bad technical signal.

Key points to note: (i) The 1,300-point zone could not support the index on the last day of the week (It acted as support for most of the day, but selling pressure intensified at the end of the session, and the index lost this level). This brings a somewhat negative sentiment. (ii) Other groups could not lead the week as cash flow rotation was not strong enough to help groups like textiles and rubber break out of the dynamic MA(50) resistance, while groups like fish, utilities, and mining faced widespread profit-taking pressure after a hot streak. This signal could lead to a further decline in the index.

According to the “Price Action” analysis method for VN30, we have 02 codes showing buy signals, 14 codes showing sell signals, and 14 codes showing sideways signals. PNJ, FPT, CTG, PLX… showed negative trading patterns during the day.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 47% probability of increasing and a 40% probability of the closing price being higher than the opening price. Statistics show that it will decline on Monday. Resistance is at 1,340 points and support is at 1,250 points.

Intraday Stock Support and Resistance (EOD)

Stocks with a surge in trading volume during the day

Watchlist of stocks for tomorrow

Intraday Chart:

• War creates impulses for global economic recovery;
• Inflation forecasts and the war in Ukraine;

US Stock Market: The indices had a down session yesterday. We believe the current up-and-down trend remains within the range from MA(20) to the upper band resistance. Essentially, the inflation data on June 10th and the FED meeting mid-next week will determine the new direction of US stock indices.

Investors can download the full report via the following link:

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