MARKET INSIGHTS_11012024

MARKET PULSE

The VN-Index closed trading forming a “Three Inside Up Pattern”. Trading volume increased and was above the 20-day average. Price increased, trading volume increased, is a bullish pattern without volume support.

Key points to note: (i) The VN-Index has broken out of the medium-term resistance of the Three Rising Valleys (3RV) pattern since November 1, 2023, and with a positive trend, the next price target is 1,245 points. (ii) The market has not decreased in points in recent sessions, but there has been a price correction in many sectors except for the banking sector. Cash flow pushing the banking sector higher has caused the index to fall into a “green outside, red inside” state. However, the overall good trading trend of the banking sector also reflects the market’s rotation after each new cycle and is consistent with the business activity cycle and market cycle as per our strategy report sent to clients in early November 2023. Basically, this should be considered the start of an uptrend wave. (iii) The insurance sector has also broken out, and BVH is one of the stocks attracting the largest cash flow. From a cash flow rotation perspective, this is also a notable highlight. (iv) The securities, steel, and retail sectors have also rebounded in price today after a series of corrections. Clearly, stocks have received the necessary reaction when prices fell to support levels. (v) Foreign investors buying net again is also a market highlight. According to the annual cycle, foreign investors usually buy net again after January 10, so if investors continue to buy net seasonally, we can expect the market to continue to advance to higher levels as profit-taking pressure from individual investors is balanced by foreign trading.

According to quantitative statistics, with today’s pattern, in the next trading session, the VN-Index has a 51% probability of decreasing and a 45.45% probability of the closing price being higher than the opening price. Based on statistics, the index traded down with the closing price lower than the opening price on Tuesday’s trading session. Resistance is 1,180 points. Support is 1,134 points.

Intraday Stock Support and Resistance (EOD)

Stocks with a Surge in Trading Volume Today

Watchlist for Tomorrow

Intraday Charts:

• Nikkei 225 sets new 52-week high;
• US Stock Market Cycles;

US Stock Market: Forecast for tonight is that indices will trade sideways within a wide range, awaiting CPI news

Investors can download the full report via the following link:

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