MARKET INSIGHTS_19082022

MARKET PULSE

The VN-Index closed the trading session forming a “Black Candle” pattern. Trading volume decreased and was below the 20-day average. A price decrease with a volume decrease is not an overly negative pattern, but considering the market breadth, there is downward pressure.

Key points to note: (i) The VN-Index has completed filling the price gap established on June 13, 2022, and it is clear that the index is under strong selling pressure as investors take profits and worry that the market will not be able to overcome the strong resistance level of 1,300 points. The pre-resistance selling effect has occurred. (ii) Given current developments, it is more likely that the index may experience a downward correction in the early trading sessions of the week. Investors may reduce their stock holdings.

According to the “Price Action” analysis method for VN30, we have 09 codes giving buy signals, 08 codes giving sell signals, and 13 codes giving sideways signals. ACB, VNM, VIC… are giving negative 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 47.05% probability of the closing price being higher than the opening price. Statistics show that the index will increase in the first trading session of the week. Looking specifically at the VN30 group, it can be seen that large-cap stocks may pull the index up, but looking at the breadth, the number of declining stocks is likely to be high. Resistance is 1,300 points and short-term support is 1,226 points.

Intraday Stock Support and Resistance (EOD)

Stocks with Abnormal Trading Volume Today

Watchlist Stocks for Tomorrow

Intraday Charts:

• Scenarios of the US stock market in the past;
• First time streaming viewership surpassed cable viewership in the US;

US Stock Market: After a hot rally and reaching its target, the market is in an information vacuum, so profit-taking is likely. Major indices are forecast to correct downwards tonight.

Investors can download the full report via the following link:

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