Technical Signals for VN-Index
During the morning trading session of August 5, 2024, the VN-Index witnessed a decline, accompanied by a significant drop in trading volume. This indicates a cautious sentiment among investors.
At present, the VN-Index is trending towards retesting the 200-day SMA as the Stochastic Oscillator indicator flashes a sell signal again. If the sell signal is sustained and the index falls below this support level, the risk of a downward adjustment will heighten in the upcoming sessions.
Technical Signals for HNX-Index
On August 5, 2024, the HNX-Index experienced a drop, along with a slight decline in trading volume during the morning session, reflecting investors’ cautious attitude.
Moreover, the HNX-Index remains close to the lower band of the Bollinger Bands, while the MACD indicator continues its downward trajectory after previously giving a sell signal. This suggests that the short-term corrective trend is likely to persist in the forthcoming sessions.
PDR – Phat Dat Real Estate Development Joint Stock Company
On the morning of August 5, 2024, PDR witnessed a sharp decline, along with a substantial drop in trading volume, indicating investors’ cautious sentiment.
Additionally, the stock price continues its downward trajectory, hugging the lower band of the Bollinger Bands. Meanwhile, the MACD indicator is steadily widening the gap with the signal line after previously giving a sell signal, suggesting that the current trend is likely to extend in the upcoming sessions.
PLX – Vietnam Oil and Gas Group
During the morning session of August 5, 2024, PLX experienced a price drop, coupled with a significant decline in trading volume, indicating that investors are exercising caution.
Furthermore, the stock price is testing the Fibonacci Projection 61.8% level, which corresponds to the region of 45,500-46,500. The Stochastic Oscillator indicator continues its downward trajectory after previously forming a bearish divergence. Should the sell signal be maintained and the stock price breaks below this support region, the risk of a downward adjustment will increase in the upcoming sessions.
Technical Analysis Team, Vietstock Consulting Department
Bank stocks sold off heavily
Today (2/2), the VN-Index continues to rise, but in a cautious trading atmosphere. It is noteworthy that most banking stocks in the VN30 basket are facing strong selling pressure.
