[Market News 25/07/2024] FOREIGN INVESTORS AND INSTITUTIONS NET BUY, INDIVIDUAL INVESTORS NET SELL

Some important notes:

– With the green candle recovering upon touching the downtrend channel, this is also a short-term positive signal. However, it is too early to confirm that the market has bottomed out. The index needs to recover and erase the bearish candle of July 23, 2024, to confirm a short-term uptrend. Overall, however, we have a medium-term downtrend channel as shown in the adjacent figure, and that is a negative signal to be aware of.

– The lower band opening up to support the downtrend, along with the formation of a structural downtrend wave, is a strong risk warning signal at this time. Technically, investors should continue to reduce portfolio weight and manage risk.

– The recovery of the real estate stock group after hitting the oversold area also somewhat relieved pressure on the market, indicating that the most negative group has stopped declining. Additionally, we also see hot-growth stocks like VGI and HVN no longer closing at the floor price, showing an effort to find equilibrium for this group. Overall, we are still in a market observation phase rather than acting hastily.

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SOURCE: AAS RESEARCH

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