Technical Signals for the VN-Index
In the morning trading session of August 29, 2024, the VN-Index witnessed a surge in points alongside a significant dip in trading volume. This indicates a sense of investor uncertainty.
At present, the VN-Index is retesting the Fibonacci Retracement 61.8% threshold (equivalent to the 1,275-1,295 point region) while the Stochastic Oscillator has signaled a sell-off within the overbought zone. This suggests that short-term downside risks may emerge if the indicator falls below this level in upcoming sessions.
Technical Signals for the HNX-Index
On August 29, 2024, the HNX-Index witnessed a dip in points and formed a candle pattern akin to a High Wave Candle, accompanied by a substantial drop in trading volume. This combination hints at investor indecision.
Additionally, the HNX-Index is retesting the cluster of the 50-day and 100-day SMA, while the Stochastic Oscillator has flashed a sell signal within the overbought territory. Should the index fall below this support zone, the likelihood of a downward correction will heighten in the upcoming sessions.
STB – Saigon Thuong Tin Commercial Joint Stock Bank
During the morning session of August 29, 2024, STB witnessed a sharp surge in price and formed a White Marubozu candle pattern, accompanied by above-average trading volume. This indicates active participation from investors.
Furthermore, the stock price rallied after breaking above the Middle Bollinger Band, while the MACD continued to widen its gap with the Signal line, reinforcing the bullish momentum.
PET – Petroleum Equipment Assembly and Trading Joint Stock Company
On the morning of August 29, 2024, PET’s stock price remained stagnant, accompanied by a slight dip in trading volume, reflecting investor indecision.
The stock is currently retesting the Fibonacci Projection 50% threshold (equivalent to the 27,500-28,500 region), while the MACD continues its upward trajectory. A successful break above this resistance level could pave the way for a short-term recovery in upcoming sessions.
Vietstock Consulting’s Technical Analysis Team
Investing in a volatile market: Should beginners consider putting money into high-yield bonds for 10-30% yearly profit?
Short-term stock market trading has proven to be a risky venture for many investors, leading to substantial losses. However, there are a few select open funds that have managed to achieve impressive returns, reaching up to 30%.
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.
