Vietstock Weekly 29/01-02/02/2024: Still Exposed to Risks

The VN-Index experienced a drop in points and slowed down its upward momentum compared to the previous trading week. Trading volume has been volatile, and the index is currently testing a long-term resistance trendline, which may lead to potential fluctuations in the upcoming sessions.

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MARKET COMMENTARY WEEK 22-26/01/2024

During the week (22-26/01/2024), VN-Index declined and consolidated its upward momentum compared to the previous trading week.

Trading volume fluctuated abnormally and the index is currently testing the long-term resistance trendline, indicating potential volatility in the upcoming sessions.

TECHNICAL ANALYSIS

Trends and Price Oscillation Analysis

VN-Index – MACD and Stochastic Oscillator signal sell

In the trading session on 26/01/2024, VN-Index slightly increased while forming a small-bodied candle pattern with continued volume below the 20-session average, indicating cautious investor trading.

In addition, the MACD and Stochastic Oscillator indicators have given sell signals, suggesting a less optimistic outlook for the upcoming sessions.

Currently, the index has surpassed the previous September-October 2023 peak (equivalent to the 1,150-1,165 point range) and this will serve as good support for VN-Index in the near future.

HNX-Index – MACD has crossed below the 0 threshold

In the trading session on 26/01/2024, HNX-Index gained points and continues to stay below the 200-day SMA in the context of ADX continuing to move below the 20 level, indicating a high possibility of continued volatility.

Trading volume remains below the 20-session average, reflecting the cautious sentiment of investors.

In addition, the MACD indicator maintains a bearish state and has crossed below the 0 threshold, increasing the risk of a correction.

Money Flow Analysis

Smart money movement: The Negative Volume Index of VN-Index has crossed below and is below the 20-day EMA line. Therefore, the risk of sudden decline (thrust down) will increase.

Technical Analysis Department, Vietstock Advisory Room

SOURCEvietstock
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