“”””[Market News 01/16/2024] SUPPORT DURING PRICE CORRECTION IS THE 1,134 POINT ZONE””””

Some important notes:

– Some sectors that declined to support areas have recovered, such as mining (PVD), retail (MWG)… giving us an initial insight into the trend of recovery upon hitting support.

– In the short term, we observe that the mid-cap group still has the potential for a 1-2 session correction (Of course, the support level will vary depending on the stock and sector). Therefore, selling pressure may continue for the next 1-2 sessions.

– Regarding the narrowing trading volume, which makes many investors worried. We would like to share this: We are currently in a downtrend phase, so the narrowing volume is also a good sign. Furthermore, even in bullish wave theory, we also see volume patterns tending to increase sharply at breakout points or at peaks and usually decrease again.

– Foreign investors bought net for the 3rd consecutive session, but the net buying amount was insignificant, all below 100 billion VND. Currently, the seasonal net buying cycle is still repeating.

– Index forecast for January 16, 2024: Statistics show that the index is adjusting downwards.

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SOURCE: AAS RESEARCH

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