MARKET INSIGHTS_15082022

MARKET PULSE

VN-Index closed the trading session forming a “GAP UP” trading pattern. Trading volume increased and was above the 20-day average. Price increase with increased trading volume is a positive technical pattern.

Key points to note: (i) VN-Index had a price gap after a sideways trend. This is a good sign. (ii) RSI(14) set a new high and for the first time rose above the 70 mark since the downtrend in April. This indicates that the current market state is very positive. (iii) The upper band opened up, supporting the price’s upward momentum.

According to the “Price Action” analysis method with VN30, we have 13 codes giving buy signals, 07 codes giving sell signals, and 10 codes giving sideways signals. Banks continue to show good trading signals.

According to quantitative statistics, with today’s pattern, in the next trading session, VN-Index has a 48% probability of increasing and a 45.45% probability of the closing price being higher than the opening price. Statistics show that the index will decrease in tomorrow’s trading session (the index often fills the GAP). Resistance is 1,300 points and short-term support is 1,226 points.

Stock support and resistance for the day (EOD)

Stocks with sudden surge in trading volume for the day

Watchlist of stocks for tomorrow

Intraday Chart:

• Will the US repeat the 2008 scenario?;
• S&P 500 often rises during periods of increasing inflation;
• Correlation between cement and steel prices and the gross profit margin of the construction industry;

US Stock Market: Overall, the current trend remains positive. In the short term, the Nasdaq index touched the resistance target of 13,129 points of the inverse head and shoulders pattern at the bottom, so there will be selling pressure. However, it is too early to confirm that the uptrend has ended.

Investors can download the full report via the following link:

---