**Market Commentary – Week of May 02-03, 2024**
During the weekly period (May 02-03, 2024), the VN-Index made positive gains while staying above the Middle Bollinger Band. However, the presence of a High Wave Candle pattern indicates some indecisiveness among investors.
Additionally, the MACD and Stochastic Oscillator indicators are trending down, signaling that the short-term outlook remains uncertain.
## Technical Analysis
### Price Trend and Oscillators
**VN-Index – Three White Candles Pattern Emerges**
On May 03, 2024, the VN-Index continued to rise after successfully testing the cluster of the 100-day SMA and 200-day SMA, while displaying a Three White Candles pattern, indicating a positive investor sentiment.
Furthermore, the MACD indicator is gradually closing the gap with the Signal line. If a buy signal reappears in the upcoming sessions, the uptrend will be further strengthened.
However, trading volume has remained below the 20-session average in recent sessions. If this improves, the short-term outlook will be more favorable.
**HNX-Index – Short-Term Recovery Continues**
On May 03, 2024, the HNX-Index gained slightly, accompanied by improved volume compared to the previous session, but remained below the 20-day moving average, indicating cautious investor sentiment.
On the other hand, the HNX-Index is rebounding after retesting its long-term support trendline, while the Stochastic Oscillator continues to trend higher after giving a buy signal in the oversold zone. Therefore, this recovery is likely to continue in the near term.
### Money Flow Analysis
**Movement of Smart Money:** The Negative Volume Index of the VN-Index crossed above and is now above the 20-day EMA. Thus, the risk of a sudden drop (thrust down) is reduced.
**Foreign Investment Inflow:** Foreign investors returned to net buying on May 03, 2024. If foreign investors continue this in the coming sessions, the outlook will remain positive.
Technical Analysis Department, Vietstock Advisory
