Technical Signals for VN-Index
During the morning trading session of August 6, 2024, the VN-Index gained points and formed a candle pattern resembling a High Wave Candle, while trading volume slightly increased. This indicates investors’ uncertainty.
At present, the VN-Index is retesting the old April 2024 low (equivalent to the 1,175-1,195 point range) as the Stochastic Oscillator indicator continues to head lower after previously giving a sell signal. If the sell signal is maintained and the index falls out of this support area, the risk of a downward correction will increase in the coming sessions.
Technical Signals for HNX-Index
On August 6, 2024, the HNX-Index rose along with a slight increase in trading volume during the morning session, indicating that investors’ sentiment has become less pessimistic.
Additionally, the HNX-Index is retesting the 23.6% Fibonacci Projection level (equivalent to the 221-226 point range) while the MACD indicator continues to trend downward after previously giving a sell signal, suggesting that the short-term downward trend is likely to persist in the upcoming sessions.
NHA – Hanoi Housing Investment and Development Corporation
On the morning of August 6, 2024, NHA continued its downward trend, accompanied by a significant increase in trading volume, reflecting investors’ pessimistic sentiment.
Moreover, the stock price remains close to the lower band of the Bollinger Bands, and the MACD indicator is widening the gap with the signal line after previously giving a sell signal. This suggests that the downward trend is likely to extend in the upcoming sessions.
VGT – Vietnam Textile and Garment Group
During the morning session of August 6, 2024, VGT witnessed a price increase and formed a High Wave Candle pattern, accompanied by a slight rise in trading volume, indicating investors’ uncertainty.
Additionally, the stock price is retesting the 20-day SMA while the Stochastic Oscillator indicator continues to decline and move deeper into the oversold region. If a buy signal reappears, the prospects for a recovery may return in the upcoming sessions.
Technical Analysis Team, Vietstock Consulting Department
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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.
