?[Market News 13/05/2024] OIL & GAS, STOCKS LEAD MARKET RECOVERY

Some important notes:

– The market is forming a small 12345 uptrend wave within the larger wave (5) after the larger wave (4) moved in an ABC pattern. The support for the small wave 4 during correction is 1,214 to the 1,238 point range.

– In the short term, another minor resistance is the dynamic MA(50) resistance at 1,250, which will be an obstacle for the index, but we believe the VN-Index has a high chance of successfully breaking this resistance. However, we also note that we are entering an area of dense resistance, and this could be a period of significant stock differentiation. Many stocks will not increase in price and will break their lows, but conversely, many stocks will break their highs.

– From our perspective, stock selection during this period will be more important than predicting the daily rise and fall of the VN-Index (Our implication is that in other periods, the general trend of the VN-Index’s rise and fall has a stronger impact on individual stocks than in this period).

– Index forecast for May 13, 2024: Statistics show that the index increased, but the closing price is not necessarily higher than the opening price.

– Recommended codes: CTS, SAM (these stocks have high speculative potential).

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