MARKET INSIGHTS_23052022

MARKET PULSE

VN-Index closed trading forming a “Black Candlestick” trading pattern. Trading volume increased and was below the 20-day average. A decrease in price with an increase in trading volume is not a good technical signal.

Key points to note: (i) Despite VN30’s sharp decline today, the market was quite diversified. Many small and mid-cap stocks with good business performance forecasts still increased – This is a good sign now because the market is diversified. (ii) When the market declined sharply, the supply of stocks was not too large and could not push many stocks down to the floor price. Basically, this was probably a pure profit-taking session. (iii) VN-Index has not yet surpassed the 1,250-point resistance, and that is still a negative signal. As long as the index has not surpassed this level, the short-term uptrend is still threatened.

According to the “Price Action” analysis method with VN30, we have 01 stock giving a buy signal, 05 stocks giving a sell signal, and 24 stocks giving a sideways signal. MBB is a stock with good trading signals for the day.

According to quantitative statistics, with today’s pattern, in the next trading session, VN-Index has a 50% probability of increasing and a 66.67% probability of the closing price being higher than the opening price. Statistics show that trading will be volatile with the closing price higher than the opening price. We expect the market to end with an increase.

Stock support and resistance for the day (EOD)

Stocks with abnormal trading volume for the day

Watchlist for tomorrow

Intraday Chart:

• Countries with the largest national debt burden;

US Stock Market: After Friday’s decline, US stock indices hit strong support. The formation of a hammer candlestick on Friday also created a good trading pattern with a positive divergence signaling a reversal. It is predicted that the indices will increase in the first trading session of the week.

Investors can download the full report via the following link:

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